http://www.legislation.gov.uk/uksi/2019/411/regulation/21/madeThe Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019enKing's Printer of Acts of Parliament2019-06-13EXITING THE EUROPEAN UNIONSANCTIONSThese Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) to establish a sanctions regime in relation to the Democratic People’s Republic of Korea (DPRK) for the purposes of implementing many of the obligations that the United Kingdom has under UN Security Council Resolution 1718 (2006), 1874 (2009), 2087 (2013), 2094 (2013), 2270 (2016), 2321 (2016), 2356 (2017), 2371(2017), 2375(2017), and 2397 (2017). They also have the purposes of restricting the ability of the DPRK to carry on its nuclear, biological or chemical weapons programmes, other weapons of mass destruction programmes and ballistic missile programmes, to promote the abandonment of those programmes and the decommissioning of the weapons, and to promote peace, security and stability on the Korean peninsula.PART 4FinanceCHAPTER 2Investment, financial services and financial markets21DPRK credit or financial institutions: branches, subsidiaries, and representative offices1

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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<p>A person (“P”) must not operate or facilitate the operation of—</p>
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of a person falling within regulation
<a href="#regulation-18-2">18(2)</a>
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.
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