(1) A UK credit or financial institution must -
(a) close any bank account with,
(b) terminate any correspondent banking relationship with,
(c) terminate any joint venture with, and
(d) relinquish any ownership interest in, a person falling within regulation 18(2).
(2) A UK credit or financial institution must -
(a) close any representative office of that institution in the DPRK; and
(b) close any branch or subsidiary of that institution in the DPRK.
(3) Paragraphs (1) and (2) are subject to Part 9 (Exceptions and licences).
(4) A person who fails to comply with a requirement in paragraph (1) or (2) commits an offence.