Specific sanctions licenses relating to insolvency

Summary

The request sought confirmation on the number of specific sanctions licenses applied for and granted under the insolvency licensing purpose introduced in December 2024. The Treasury responded that zero licenses have been applied for and zero have been granted under this specific provision.

Key Facts

• The Sanctions (Implementation of UK Sanctions) Regulations 2024 were amended in December 2024 to create a new licensing purpose for insolvency and restructuring.
• The Treasury confirmed that no individual or specific licenses have been applied for under the new insolvency licensing purpose.
• The Treasury confirmed that no individual or specific licenses have been granted under the new insolvency licensing purpose.
• The Freedom of Information request was received on 1 October 2025 and responded to on 3 October 2025.
• The response was issued by the Treasury with reference number 4970081.

Data Disclosed

• December 2024
• 1 October 2025
• 3 October 2025
• zero
• 4970081

Original Request

Attention: Isle of Man Customs and Immigration Amendments to the Sanctions (Implementation of UK Sanctions) Regulations 2024, implemented in December 2024, created a new licensing purpose in respect of insolvency and restructuring proceedings. Please confirm: 1. Whether any individual/specific licences pursuant to that insolvency licensing purpose have been applied for; and if so, how many; and 2. Whether any individual/specific licences pursuant to that insolvency licensing purpose have been granted; and if so, how many.

Data Tables (1)

Full Response Text

Freedom of Information
Seyrsnys Fysseree

The Treasury Government Office,
Douglas Isle of Man, IM1 3PU

Telephone: (01624) 685605 Email: FOI.Treasury@gov.im

Government Website: www.gov.im

Our ref: 4970081 3 October 2025

Dear ###,

We write further to your request, received 1 October 2025, which states:

"Attention: Isle of Man Customs and Immigration

Amendments to the Sanctions (Implementation of UK Sanctions) Regulations 2024, implemented in December 2024, created a new licensing purpose in respect of insolvency and restructuring proceedings.

Please confirm:

1. Whether any individual/specific licences pursuant to that insolvency licensing purpose have been applied for; and if so, how many; and

2. Whether any individual/specific licences pursuant to that insolvency licensing purpose have been granted; and if so, how many."

Based on information held by the Treasury our response to your request is as follows:

Part 1 The number of licenses applied for pursuant to the insolvency licensing purpose under the Amendments to the Sanctions (Implementation of UK Sanctions) Regulations 2024 is zero.

Part 2
The number of licenses granted pursuant to the insolvency licensing purpose under the Amendments to the Sanctions (Implementation of UK Sanctions) Regulations 2024 is zero.

Please quote the reference number 4970081 in any future communications.

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I will now close your request as of this date.