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Changes over time for: Section 28


Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 31/12/2020.
Changes to legislation:
The Democratic People's Republic of Korea (Sanctions) (EU Exit) Regulations 2019, Section 28 is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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Transfers of funds etc.U.K.
This section has no associated Explanatory Memorandum
28.—(1) A person must not make or receive a transfer of funds which that person knows or has reasonable cause to suspect is a transfer of funds to or from the DPRK.
(2) A UK credit or financial institution must not enter into, or continue to participate in, any transaction with a person who the institution knows or has reasonable cause to suspect to be a person falling within regulation 18(2).
(3) Paragraphs (1) and (2) are subject to Part 9 (Exceptions and licences).
(4) A person who contravenes a prohibition in paragraph (1) or (2) commits an offence.
(5) In this regulation the reference to a transfer of funds includes the clearing of funds.
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