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Regulation 51 Bank notes and coinageI1I2

United Kingdom

(1)

The export of bank notes or coinage to or for the benefit of the Central Bank of the DPRK is prohibited.

(2)

A person must not directly or indirectly—

(a)

supply or deliver bank notes or coinage from a third country to or for the benefit of the Central Bank of the DPRK;

(b)

make bank notes or coinage available to or for the benefit of the Central Bank of the DPRK.

(3)

Paragraphs (1) and (2) are subject to Part 9 (Exceptions and licences).

(4)

A person who contravenes a prohibition in paragraph (2) commits an offence, but—

(a)

it is a defence for a person charged with the offence of contravening paragraph (2)(a) (“P”) to show that P did not know and had no reasonable cause to suspect that the person to whom, or for whose benefit, the bank notes or coinage were supplied or delivered was the Central Bank of the DPRK;

(b)

it is a defence for a person charged with the offence of contravening paragraph (2)(b) (“P”) to show that P did not know and had no reasonable cause to suspect that the person to whom or for whose benefit the bank notes or coinage were made available was the Central Bank of the DPRK.

(5)

In this regulation “third country” means a country that is not the United Kingdom, the Isle of Man or the DPRK.

Annotations

Commencement

I1

Reg. 51 not in force at made date, see reg. 1(2)

I2

Reg. 51 in force at 31.12.2020 by S.I. 2019/627, reg. 7(2); 2020 c. 1, Sch. 5 para. 1(1)

Notes on Chapter 2

Textual amendments

F1

Words in Pt. 6 Ch. 2 heading substituted (5.12.2024) by The Sanctions (EU Exit) (Miscellaneous Amendments) (No. 2) Regulations 2024 (S.I. 2024/1157), regs. 1(2), 3(5)