SCHEDULE 2Modifications to be made in the extension of the Democratic People’s Republic of Korea (Sanctions) (EU Exit) Regulations 2019 to each British overseas territory listed in Schedule 1
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For regulation 89 (Treasury directions) substitute—
Financial sanctions directions89
1
The requirements in regulations 19 (severance of existing financial relationships), 23 (designated persons: closure of representative offices) and 26(7) (closure of joint venture or co-operative entities) have effect subject to any exceptions specified in a financial sanctions direction issued by the Governor under this regulation.
2
The Governor may issue a financial sanctions direction only with the consent of the Secretary of State.