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The Democratic People's Republic of Korea (Sanctions) (EU Exit) Regulations 2019

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Changes over time for: Section 28

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There are currently no known outstanding effects for the The Democratic People's Republic of Korea (Sanctions) (EU Exit) Regulations 2019, Section 28. Help about Changes to Legislation

Transfers of funds etc.U.K.

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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.

Commencement Information

I1Reg. 28 not in force at made date, see reg. 1(2)

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