חוק למניעת הפצה ומימון של נשק להשמדה המונית, התשע"ח-2018Law on the Prevention of Proliferation and Financing of Weapons of Mass Destruction, 2018 · automatic translation · suggest a correction

Official summary of the law (Knesset)

This Law establishes a general mechanism for adopting declarations by the Security Council and by foreign states regarding entities that disseminate and finance weapons of mass destruction, which assist the states listed in the Schedule to the Law – Iran and North Korea. However, under the Law, the Minister of Finance may, by order, add or remove states, besides those listed in the Schedule, with the agreement of the Ministers of Foreign Affairs and Defense and with the approval of the Knesset Foreign Affairs and Defense Committee. Permanent adoption of the recommendations will be done only after the position of the Sanctions Unit at the Ministry of Finance has been presented to the Minister of Finance. In addition, the Law establishes that assisting in the development, production, distribution or financing of weapons of mass destruction, with the aim of assisting a foreign state or a non-state organization operating within the territory of a foreign state, or assisting economic activity with a declared or related entity for which no permit has been granted, constitutes a criminal offense. The Law also establishes a transitional provision relating to the adoption of approximately 140 previous declarations of the UN Security Council, to which the adoption mechanisms in the Bill will apply from the date of its commencement. The arrangement established in the Law conforms to the international standards set by the FATF, which is the leading international organization in the field of combating money laundering and the financing of terrorism and proliferation, and which is responsible for setting the binding international standard in this field.

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