The Democratic People's Republic of Korea (European Union Financial Sanctions) Regulations 2017

PART 4 U.K. Licences

Licences U.K.

23.—(1) The prohibitions and requirements in regulations [F1 3 to 7], 10(1)(b) to (d), 15(1)(a) and (2)(b), 17(1), [F2 18(3) to (4A)] and 21 do not apply to anything done under the authority of a licence granted by the Treasury.

(2) A licence must specify the acts authorised by it and may be—

(a) general or granted to a category of persons or to a particular person;

(b) subject to conditions;

(c) of indefinite duration or subject to an expiry date.

(3) The Treasury may vary or revoke a licence at any time.

(4) On the grant, variation or revocation of a licence, the Treasury must—

(a) in the case of a licence granted to a particular person, give written notice of the grant, variation or revocation to that person,

(b) in the case of a general licence or a licence granted to a category of persons, take such steps as the Treasury consider appropriate to publicise the grant, variation or revocation of the licence.

(5) A person commits an offence who, for the purpose of obtaining a licence, knowingly or recklessly—

(a) provides information that is false in a material respect, or

(b) provides or produces a document that is not what it purports to be.

(6) A person who purports to act under the authority of a licence but who fails to comply with any condition included in the licence commits an offence.

Textual Amendments

F1 Words in reg. 23(1) substituted (6.9.2017) by The Democratic Peoples Republic of Korea (European Union Financial Sanctions) (Amendment) (No. 2) Regulations 2017 (S.I. 2017/883), regs. 1(1), 2(12) (with reg. 3)

F2 Words in reg. 23(1) replaced (18.10.2017) by The Democratic Peoples Republic of Korea (European Union Financial Sanctions) (Amendment) (No. 5) Regulations 2017 (S.I. 2017/999), regs. 1, 2(6)