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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 20

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Point in time view as at 31/12/2020.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 20 is up to date with all changes known to be in force on or before 25 November 2024. 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. Help about Changes to Legislation

Opening of or taking up of business by a representative office, branch or subsidiary of DPRK credit or financial institutionU.K.

This section has no associated Explanatory Memorandum

20.—(1) A person (“P”) must not—

(a)open a representative office or establish a branch or subsidiary in the United Kingdom of a person falling within regulation 18(2);

(b)enter into an arrangement for, or on behalf of, a person falling within regulation 18(2) which relates to the opening of a representative office or the establishment of a branch or subsidiary in the United Kingdom, if P knows, or has reasonable cause to suspect, that the arrangement is for, or on behalf of, such a person; or

(c)authorise the taking up and pursuit of business by a representative office, branch or subsidiary of a person falling within regulation 18(2), if the representative office, branch or subsidiary was not operational before 19 February 2013.

(2) Paragraph (1) is subject to Part 9 (Exceptions and licences).

(3) A person who contravenes a prohibition in paragraph (1) commits an offence.

Commencement Information

I1Reg. 20 not in force at made date, see reg. 1(2)

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