12Prohibition relating to dealings with designated person or entity

12 Prohibition relating to dealings with designated person or entity

(2) A person contravenes this regulation if: (a) the person directly or indirectly makes an asset available to, or for the benefit of: (i) a designated person or entity; or (ii) a person or entity acting on behalf of or at the direction of a designated person or entity; or (iii) an entity that is owned or controlled, including through illicit means, by a person or entity acting on behalf of or at the direction of a designated person or entity; and (b) the making available of the asset is not authorised by a permit under regulation 14. (3) Section 15.1 of the Criminal Code applies to an offence under section 27 of the Act that relates to a contravention of subregulation (2).

Note 1: Subregulation (3) has the effect that the offence has extraterritorial application.

Note 2: This regulation is a UN sanction enforcement law as specified by the Minister under the Charter of the United Nations (UN Sanction Enforcement Law) Declaration 2008.