Lolita 
OFSI has mentioned that it’ll renew its authorized companies Common Licence (GL), relevant to the Russia and Belarus sanctions regimes, till 28 October 2023. See GL INT/2022/2252300 (28 October 2022, resulting from expire 28 April 2023). In a letter to stakeholders, OFSI mentioned that the renewed GL:
- will set the authorized charges caps (£500,000 inc. VAT) and authorized bills caps (5{141a5ed8bfe4319a6738ddde4dcd918154fba9e897e1ad5caac5b7e1366b63d2} of authorized charges, as much as £25,000) once more;
- will clarify that it is going to be relevant in instances the place charges and / or bills could exceed the authorized charges and / or bills caps (any authorized charges and/or bills over the relevant caps would require a particular licence);
- will clarify that the two caps may be mixed, that means if work is undertaken for a chosen individual that includes charges for authorized work carried out in satisfaction of a previous obligation (£500,000 restrict) and work undertaken post-designation (£500,000 restrict), as much as £1 million (inc. VAT) might be paid below the renewed GL – this precept would be the identical with regard to bills; and
- is not going to authorise authorized charges for defamation and comparable instances.
OFSI has additionally mentioned that while choices on any particular licence software in defamation or comparable instances can be taken on a case-by-case foundation, it’s OFSI’s beginning place that cost of authorized charges in such instances wouldn’t be acceptable, and a licence can be declined.
