General licence - IOM/2021/BEL001

Thursday, 5 August 2021

The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations. 

On 4 August 2021, the Treasury issued General Licence IOM/2021/BEL001 under Regulation 32 of The Belarus (Sanctions) (EU Exit) Regulations 2019, as those Regulations have effect in the Isle of Man by the Republic of Belarus Sanctions (Application) Regulations 2020 [SD 2020/0479] (“the Regulations”). 

Any persons intending to use General Licence IOM/2021/BEL001 should consult the copy of the Licence on this page for full details of the permissions and usage requirements. 

Under General Licence IOM/2021/BEL001 in an emergency an aircraft operator may make payment(s) directly or via an intermediary to Belaeronavigatsia for air traffic services. 

The permissions in General Licence IOM/2021/BEL001 do not authorise any act which the person carrying out the act knows, or has reasonable grounds for suspecting, will result in funds or economic resources being made available in breach of the  Regulations, save as permitted under licences granted under the Regulations. 

General Licence IOM/2021/BEL001 takes effect from 4 August 2021 and may be varied, revoked, or suspended by the Treasury at any time. 

Reporting requirement

Any activity conducted under General Licence IOM/2021/BELOO1 must be reported to the Treasury within 14 days, with details and supporting evidence. 

Record-keeping requirements

Persons must keep accurate, complete and readable records, on paper or electronically, of any activity purporting to have been permitted under this licence for a minimum of 6 years.

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