{"title":"Licences and Exemptions","authors":"Hugo D. Lodge","doi":"10.1093/OSO/9780198844778.003.0010","DOIUrl":null,"url":null,"abstract":"In the sanctions context, a ‘licence’ is a written authorization from the Office of Financial Sanctions Implementation (OFSI) permitting an otherwise prohibited act. By contrast, an ‘exception’ to a prohibition applies automatically in certain defined circumstances as set out in the regulations and does not require a licence from OFSI.","PeriodicalId":304757,"journal":{"name":"Blackstone’s Guide to The Sanctions and Anti-Money Laundering Act","volume":"1 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2020-06-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Blackstone’s Guide to The Sanctions and Anti-Money Laundering Act","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1093/OSO/9780198844778.003.0010","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0
Abstract
In the sanctions context, a ‘licence’ is a written authorization from the Office of Financial Sanctions Implementation (OFSI) permitting an otherwise prohibited act. By contrast, an ‘exception’ to a prohibition applies automatically in certain defined circumstances as set out in the regulations and does not require a licence from OFSI.
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