OFSI General Licence - INT/2026/9491628
amended and 1 FAQ added
OFSI has published the amended Prince Group Insolvency General Licence INT/2026/9491628.
The General Licence was amended as follows:
The definition of 'Permitted Insolvency Activities' was amended to “The making, receiving, or processing of payments and any other action that is in connection with the Insolvency Proceedings, whether prior to or after commencement of such proceedings, conducted at the direction of, or with the consent of an Insolvency Practitioner (or Practitioners), are permitted, provided that no funds or economic resources are made available (directly or indirectly) to or for the benefit of any DP other than a Prince Group DP or Subsidiary.”
For the avoidance of doubt, the above definition only applies where the Insolvency Practitioner (or Practitioners) continue to act in that capacity in relation to the Insolvency Proceedings.
Consequential amendments were made to remove references to ‘any DP’ in the permissions, notification and record-keeping requirement.
To see the General Licence.
OFSI has published a new FAQ - FAQ 196 - on the amendment to the Continuation of Business of Lukoil International Entities General Licence (INT/2025/8031092), which was amended on 19 June 2026 to remove the requirement that funds made available, directly or indirectly, to or for the benefit of Lukoil International GmbH or a Lukoil International subsidiary must be paid into a frozen account.
It remains the case that funds must not be made available to or for the benefit of PJSC Lukoil, the designated Russian parent company, under General Licence INT/2025/8031092.
Any persons intending to use General Licence INT/2025/8031092 should consult FAQ 196 and the copy of the Licence for full details of the permissions and usage requirements.
To read the FAQ
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