OFSI General Licence INT/2023/3263556 amended:
Add regulation 18A to the regulations that are exempt under the General Licence;
– Add definitions for Notes, Noteholders, Trustee, Relevant non-UK Institution, UK Prohibited Persons and UK Prohibited Persons Account;
– Make it clear in Permission 4.2 that any funds made available to DPs must be held in a frozen account and any economic resources made available must be treated as frozen;
– Add Permission 4.3 which states that financial services for foreign exchange reserve and asset management must not be provided to a UK Prohibited Person unless any resulting payments are credited to a UK Prohibited Person’s Account;
– Make corresponding clarificatory changes to Permission 5, the notification requirement and the record-keeping requirement; and
– Add a new reporting requirement.
OFSI General Licence INT/2023/3263556 – GOV.UK
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