# The Democratic People's Republic of Korea (Sanctions) (EU Exit) Regulations 2019, Regulation 54: Financial services and funds relating to gold, precious metals or diamonds

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

(1) A person must not directly or indirectly provide financial services to a DPRK Government person in pursuance of or in connection with an arrangement whose object or effect is—
(a) the export of gold, precious metals or diamonds,
(b) the import of gold, precious metals or diamonds,
(c) the direct or indirect supply or delivery of gold, precious metals or diamonds, or
(d) directly or indirectly making gold, precious metals or diamonds available to a person.
(2) A person must not directly or indirectly make funds available to a DPRK Government person in pursuance of or in connection with an arrangement mentioned in paragraph (1).
(3) A person must not directly or indirectly provide financial services or funds in pursuance of or in connection with an arrangement whose object or effect is—
(a) the export of gold, precious metals or diamonds to a DPRK Government person,
(b) the import of gold, precious metals or diamonds consigned from a DPRK Government person,
(c) the direct or indirect supply or delivery of gold, precious metals or diamonds to a DPRK Government person or from a DPRK Government person,
(d) directly or indirectly making gold, precious metals or diamonds available to a DPRK Government person, or
(e) the direct or indirect acquisition of gold, precious metals or diamonds from a DPRK Government person.
(4) Paragraphs (1), (2) and (3) are subject to Part 9 (Exceptions and licences).
(5) A person who contravenes a prohibition in paragraph (1) or (2) commits an offence, but it is a defence for a person charged with an offence of contravening either of those paragraphs (“P”) to show that P did not know and had no reasonable cause to suspect that the person was a DPRK Government person.
(6) A person who contravenes the prohibition in paragraph (3) commits an offence, but it is a defence for a person charged with that offence to show that the person did not know and had no reasonable cause to suspect that the financial services or funds (as the case may be) were provided in pursuance of or in connection with an arrangement mentioned in that paragraph.

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Source: https://www.legislation.gov.uk/uksi/2019/411/regulation/54 (the official version)
Page: https://openlegislation.uk/democratic-peoples-republic-of-korea-sanctions-eu-exit-regulations-2019/regulation-54
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.