MEDIA RELEASE No: 2006-07 Date: 19 September 2006 Embargo: For Immediate Release

BANKING (FOREIGN EXCHANGE) REGULATIONS 1959
SANCTIONS AGAINST ENTITIES ASSOCIATED WITH NORTH KOREA

The Reserve Bank of Australia has been directed by the Australian Government to take steps under the Banking (Foreign Exchange) Regulations 1959 to implement financial sanctions against certain entities and an individual associated with the Democratic People’s Republic of Korea. Details of these twelve entities and one individual are contained in the Annex.

All transactions involving the transfer of funds or payments to, by the order of, or on behalf of such entities or person are prohibited without the prior approval of the Reserve Bank of Australia.

Enquiries:
Manager, Media Office
Information Department
Reserve Bank of Australia
SYDNEY

Phone: +61 2 9551 9720
Fax:     +61 2 9551 8033
E-mail:  rbainfo@rba.gov.au