SCHEDULE 2 Modifications 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

60.  For regulation 89 (Treasury directions) substitute—

“Financial sanctions directions

89.— (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.”