102Countermeasures

#### 102 Countermeasures (1) The regulations may make provision for or in relation to prohibiting or regulating the entering into of transactions, where: (a) both: (i) one of the parties to the transaction is a resident of Australia; and (ii) the other party, or any of the other parties, is a resident of a prescribed foreign country; or (b) both: (i) one of the parties to the transaction enters into the transaction in the course of carrying on an activity or business at or through a permanent establishment of the party in Australia; and (ii) the other party, or any of the other parties, is a resident of a prescribed foreign country; or (c) both: (i) one of the parties to the transaction is a resident of Australia; and (ii) the other party, or any of the other parties, is a corporation incorporated in a prescribed foreign country; or (d) both: (i) one of the parties to the transaction enters into the transaction in the course of carrying on an activity or business at or through a permanent establishment of the party in Australia; and (ii) the other party, or any of the other parties, is a corporation incorporated in a prescribed foreign country; or (e) both: (i) one of the parties to the transaction is a resident of Australia; and (ii) the other party, or any of the other parties, is an individual who is physically present in a prescribed foreign country; or (f) both: (i) one of the parties to the transaction enters into the transaction in the course of carrying on an activity or business at or through a permanent establishment of the party in Australia; and (ii) the other party, or any of the other parties, is an individual who is physically present in a prescribed foreign country. > Note: For resident, see section 14. (2) Regulations made for the purposes of subsection (1): (a) may be of general application; or (b) may be limited by reference to any or all of the following: (i) a specified transaction; (ii) a specified party; (iii) a specified prescribed foreign country. > Note 1: For specification by class, see subsection 13(3) of the Legislation Act 2003. > Note 2: For consultation requirements, see section 17 of the Legislation Act 2003.