# The Democratic People's Republic of Korea (Sanctions) (EU Exit) Regulations 2019, Regulation 101: Proliferation financing

Extent: E+W+S+N.I.

(1) A relevant firm must inform the National Crime Agency without delay if-—
(a) it knows or has reasonable cause to suspect, that a person is providing proliferation financing, and
(b) the information or other matter on which the knowledge or cause for suspicion is based came to it in the course of carrying on its business with a person falling within regulation 18(2).
(2) Where paragraph (1) applies, the relevant firm must not carry out any activity related to the proliferation financing or suspected proliferation financing (including, in particular, any transfer of funds or clearing of funds) until it has complied with the requirement in paragraph (1) and instructions provided by the Treasury or the Commissioners.
(3) A reference in this regulation to information or any other matter which comes to a person in the course of carrying on its business is to be read in accordance with regulation 100(5).
(4) A person who fails to comply with the requirement in paragraph (1) or who contravenes the prohibition in paragraph (2) commits an offence.
(5) In this regulation—
“proliferation financing” means making available funds that could contribute to any of the DPRK's banned programmes;
“relevant firm” is to be read in accordance with regulation 100.

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Source: https://www.legislation.gov.uk/uksi/2019/411/regulation/101 (the official version)
Page: https://openlegislation.uk/democratic-peoples-republic-of-korea-sanctions-eu-exit-regulations-2019/regulation-101
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.