OFSI issues new Russia-related general license to authorize certain news-related activities

On May 30, 2022, the UK’s Office of Financial Sanctions Implementation issued General License INT/2022/1834876 under Regulation 64 of The Russia (Sanctions) (EU Exit) Regulations 2019.  This general license enables Interim Managers and trustees of a charity to act as a receiver and manager with respect to certain property and affairs of the charity, provided that the Interim Managers are appointed by the Charity Commission (CC) under section 76(3)(g) of the Charities Act 2011, and the trustees are appointed by order of the CC under section 76(3)(b) and/or section 80 of the Charities Act 2011.  Under this general license, Interim Managers or trustees may allow for basic operational needs, the routine holding and maintenance of frozen funds, and the payment of professional fees such as legal fees.  Interim Manages or trustees may also authorize the receipt and disbursement of Charitable Funds and payments associated with the wind up or dissolution of the charity.  Any Person that utilizes this general license is required to keep accurate records of the payments and activities for a minimum of 6 years.  This license expires in one year, on May 30, 2023.

General License – INT/2022/1875276