{
  "url": "https://openlegislation.uk/democratic-peoples-republic-of-korea-sanctions-overseas-territories-order-2012/article-10C",
  "json_url": "https://openlegislation.uk/democratic-peoples-republic-of-korea-sanctions-overseas-territories-order-2012/article-10C.json",
  "legislation": "uksi/2012/3066",
  "legislation_title": "The Democratic People’s Republic of Korea (Sanctions) (Overseas Territories) Order 2012",
  "legislation_url": "https://openlegislation.uk/democratic-peoples-republic-of-korea-sanctions-overseas-territories-order-2012",
  "path": "article/10C",
  "kind": "article",
  "number": "10C",
  "heading": "North Korean credit and financial institutions: branches, subsidiaries, and representative offices",
  "text": "(1) A credit or financial institution (“P”) commits an offence if P—\n(a) opens a new bank account with;\n(b) establishes a new correspondent banking relationship with;\n(c) establishes a new joint venture with; or\n(d) takes an ownership interest in,\na person who P knows or has reasonable cause to suspect falls within article 10A(4).\n(2) A credit or financial institution (“P”) commits an offence if P—\n(a) opens a new representative office in North Korea; or\n(b) establishes a new branch or subsidiary in North Korea.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Pt. 2A inserted (7.8.2013) by The Democratic People’s Republic of Korea (Sanctions) (Overseas Territories) (Amendment) Order 2013 (S.I. 2013/1718), arts. 1(2), 8"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Art. 10C-10K substituted for art. 10C-10F (10.6.2016) by The Democratic People’s Republic of Korea (Sanctions) (Overseas Territories) (Amendment) Order 2016 (S.I. 2016/630), arts. 1(1), 8"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2012/3066/article/10C",
    "retrieved_at": "2026-10-29T01:10:57.929498+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}