New OFSI General Licence and licence amendment

IPA Insolvency Practitioner newsletter AML Digest, May 2024

On 29 February 2024, the Office of Financial Sanctions Implementation (OFSI) issued a new General Licence (INT/2024/4398024 – Court Funds Office Payments). This new licence allows persons who owe monies to a designated person as a result of a Court Order to pay these to the Court Funds Office and for the Court Funds Office to receive these payments. View the publication notice and General Licence here.

OFSI General Licence INT/2022/2300292 – Payment to Energy Companies for Gas and/or Electricity has been amended to add permission for payments for gas and electricity meter installation, certification, validation, monitoring, replacement, removal and other payments in relation to these activities. View the publication notice and General Licence here.

As a reminder, Insolvency Practitioners have a responsibility to establish a process for regularly reviewing the OFSI sanctions list updates.

OFSI notifies its subscribers by email whenever a new notice is published. To subscribe to OFSI’s e-alerts, click here.