Regulation 57 Financial support for tradeI1I2
United Kingdom
A person must not provide financial services or funds for the purpose of trade with the DPRK.
The prohibition in paragraph (1) does not apply to any provision of financial services or funds prohibited by Chapter 1 of this Part or in any other regulation in this Chapter.
Paragraph (1) is subject to Part 9 (Exceptions and licences).
A person who contravenes the prohibition in paragraph (1) 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 provided (as the case may be) were for the purpose of trade with the DPRK.
Annotations
Commencement
- I1
Reg. 57 not in force at made date, see reg. 1(2)
- I2
Reg. 57 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)