instrumentality of North Korea.
"Person." An individual, organization, a financial
institution, sole proprietorship, association, corporation,
partnership, joint venture, limited partnership, limited
liability partnership, limited liability company or other entity
or business association that exists for the purpose of making a
profit or government entity that includes a multilateral
development institution as defined in section 1701 of the
International Financial Institutions Act (Public Law 95-118, 22
U.S.C. § 262r).
§ 35A02. Engaging in investment activities.
A person or financial institution engages in an investment
activity by doing any of the following:
(1) Providing goods or services worth at least
$20,000,000, including oil tankers or transporters and
liquefied natural gas tankers or transporters, to the energy-
related activities of North Korea, or products used to
construct or maintain pipelines used to transport oil or
liquefied natural gas for the energy sector of North Korea.
(2) Extending at least $20,000,000 in credit to a person
for 45 days or more if all of the following apply:
(i) The person uses the credit to provide goods or
services to the energy sector in North Korea.
(ii) The person is, at the time the financial
institution or person extends credit, identified on a
list created under section 35A03 (relating to list of
persons engaged in investment activities).
§ 35A03. List of persons engaged in investment activities.
(a) List.--The department shall develop a list of persons
whom the department determines are engaged in investment
activities in North Korea as described in section 35A02
(relating to engaging in investment activities). The department
shall make its determination based on publicly available,
credible information. The department shall update the list every
180 days. Ninety days prior to adding a person to the list, the
department shall do all of the following:
(1) Provide notice to the person of the department's
intention to add the person to the list. The notice shall
inform the person that inclusion on the list makes the person
ineligible to enter into a contract with a Commonwealth
entity for goods or services worth at least $1,000,000. The
notice shall specify that if the person ceases to engage in
investment activities in North Korea, the person may regain
eligibility upon removal from the list.
(2) Provide the person an opportunity to comment in
writing to the department. The person shall maintain
eligibility if the person demonstrates no engagement in
investment activities in North Korea.
(b) Ineligibility of persons on list.--A person identified
on a list under subsection (a) shall be ineligible to enter into
a contract with a Commonwealth entity to provide for goods or
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