The Democratic People's Republic of Korea (Sanctions) (EU Exit) Regulations 2019, Section 101 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.
101.—(1) A relevant firm must inform the National Crime Agency without delay if-—
(a)it knows or has reasonable cause to suspect, that a person is providing proliferation financing, and
(b)the information or other matter on which the knowledge or cause for suspicion is based came to it in the course of carrying on its business with a person falling within regulation 18(2).
(2) Where paragraph (1) applies, the relevant firm must not carry out any activity related to the proliferation financing or suspected proliferation financing (including, in particular, any transfer of funds or clearing of funds) until it has complied with the requirement in paragraph (1) and instructions provided by the Treasury or the Commissioners.
(3) A reference in this regulation to information or any other matter which comes to a person in the course of carrying on its business is to be read in accordance with regulation 100(5).
(4) A person who fails to comply with the requirement in paragraph (1) or who contravenes the prohibition in paragraph (2) commits an offence.
(5) In this regulation—
“proliferation financing” means making available funds that could contribute to any of the DPRK's banned programmes;
“relevant firm” is to be read in accordance with regulation 100.
Commencement Information
I1Reg. 101 not in force at made date, see reg. 1(2)
I2Reg. 101 in force at 31.12.2020 by S.I. 2019/627, reg. 7(2); 2020 c. 1, Sch. 5 para. 1(1)
All content is available under the Open Government Licence v3.0 except where otherwise stated. This site additionally contains content derived from EUR-Lex, reused under the terms of the Commission Decision 2011/833/EU on the reuse of documents from the EU institutions. For more information see the EUR-Lex public statement on re-use.
