; North Korean person The terms applicable United Nations Security Council resolution , North Korean financial institution , and North Korean person have the meanings given those terms in section 3 of the North Korea Sanctions and Policy Enhancement Act of 2016 ( 22 U.S.C. 9202 ). . 6925. Report on use by the Government of North Korea of beneficial ownership rules to access the international financial system (a) In general Not later than 180 days after the date of the enactment of this Act, the Secretary of the Treasury shall submit to the appropriate congressional committees a report setting forth the findings of the Secretary regarding how the Government of North Korea is exploiting laws with respect to the beneficial owner of an entity in order to access the international financial system. (b) Elements The Secretary shall include in the report required under subsection (a) proposals for such legislative and administrative action as the Secretary considers appropriate to combat the abuse by the Government of North Korea of shell companies and other similar entities to avoid or evade sanctions. (c) Form The report required by subsection (a) shall be submitted in unclassified form but may include a classified annex. II Congressional review and oversight 6931. Notification of termination or suspension of sanctions Not less than 15 days before taking any action to terminate or suspend the application of sanctions under this subtitle or an amendment made by this subtitle, the President shall notify the appropriate congressional committees of the President’s intent to take the action and the reasons for the action. 6932. Reports on certain licensing actions (a) In general Not later than 180 days after the date of the enactment of this Act, and every 180 days thereafter, the President shall submit to the appropriate congressional committees a report on the operation of the system for issuing licenses for transactions under covered regulatory provisions during the preceding 180-day period that includes— (1) the number