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

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DPRK credit or financial institutions: branches, subsidiaries, and representative offices

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21.—(1) A person (“P”) must not operate or facilitate the operation of—

(a)a branch,

(b)a subsidiary, or

(c)a representative office,

of a person falling within regulation 18(2) if P knows, or has reasonable cause to suspect, that the branch, subsidiary or representative office is a branch, subsidiary or representative office of such a person.

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

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

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