1. The opening of branches, subsidiaries or representative offices of DPRK banks, including the Central Bank of the DPRK, its branches and subsidiaries, and of other financial entities referred to in Article 13, point 2, in the territories of Member States shall be prohibited.
2. Existing branches, subsidiaries and representative offices of the entities referred to in paragraph 1 in the territories of the Member States shall be closed within 90 days of the adoption of UNSCR 2270 (2016).
3. Unless approved in advance by the Sanctions Committee, it shall be prohibited for DPRK banks, including the Central Bank of the DPRK, its branches and subsidiaries, and for other financial entities referred to in Article 13, point 2, to:
(a) establish new joint ventures with banks under the jurisdiction of Member States;
(b) take an ownership interest in banks under the jurisdiction of Member States; or
(c) establish or maintain correspondent banking relationships with banks under the jurisdiction of
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