General licence - IOM/2022/RUS023
The Treasury has the power to issue General Licences for financial and trade sanctions regimes under a number of Regulations.
On 01 June 2022, the Treasury issued General Licence IOM/2022/RUS023 under regulation 64 of the Russia Sanctions (EU Exit) Regulations 2019, as they apply to the Isle of Man by the Russia Sanctions (Application) Regulations 2020 [SD 2020/0504] (“the Regulations”).
Any persons intending to use General Licence IOM/2022/RUS023 should consult the copy of the Licence for full details of the permissions and usage requirements which can be found attached to this release.
General Licence IOM/2022/RUS023 which allows certain activities related to the provision of Civilian Telecommunications Services and News Media Services. The licence will expire on 30 May 2024.
For the purposes of General Licence IOM/2022/RUS023, A Person is an individual, a body of persons corporate or unincorporate, any organisation or any association or combination of persons; the DP is ZAO TransTeleCom Company; a designated Credit or Financial Institution is any credit or financial institution designated by the Secretary of State from time to time under regulation 5 of the Russia (Sanctions) (EU Exit) Regulations 2019 (of Parliament); a designated person is a person who is designated by the Secretary of State from time to time under regulation 5 of the Russia (Sanctions) (EU Exit) Regulations 2019 (of Parliament) and a Relevant Institution is:
- a person who is licensed under the Financial Services Act 2008 (of Tynwald) to carry on a regulated activity within the meaning of section 3 of that Act;
- a person who is authorised or registered under the Insurance Act 2008 (of Tynwald) or holds a permit under that Act;
- a person who is registered under the Moneylenders Act 1991 (of Tynwald) to carry on the business of lending money;
- a person who is acting as a trustee or an administrator of a retirement benefits scheme within the meaning of the Retirement Benefits Schemes Act 2008 (of Tynwald)
Civilian Telecommunication Services are either an “electronic communication network” or “electronic communications service” as defined by Section 4 of the Communications Act 2021 that is used for civilian purposes. For the avoidance of doubt this does not include any News Media Services as defined below.
News Media Services are news reporting and journalistic services involved in the reporting of news and current affairs by a recognised news publisher.
Under General Licence IOM/2022/RUS023:
- Subject to the conditions set out in the licence a Person, other than a designated person, may continue business operations involving the provision of Civilian Telecommunication Services;
- Subject to the conditions set out in the licence a Person, other than a designated person, may continue business operations involving the provision of News Media Services; and
- A Relevant Institution may process payments in accordance with these permissions.
General
The permissions in General Licence IOM/2022/RUS023 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 Russia Regulations, save as permitted under licences granted under The Russia Regulations.
The General Licence takes effect from the date of issue and expires on 30 May 2024.
Further details of the sanctions regime related to Russia may be found on the Customs and Excise pages of the Isle of Man Government website.
