11Certain controlled assets must be transferred to Development Fund for Iraq

11 Certain controlled assets must be transferred to Development Fund for Iraq

(1) A person who holds a controlled asset that is not subject to a judicial, administrative or arbitral lien or judgement must, as soon as practicable, inform: (a) the Secretary of the Department; or (b) the Australian Federal Police, or a police force of a State or Territory. (2) If the Department confirms that the person holds a controlled asset the person must comply with any reasonable arrangements specified by the Department for the transfer of the controlled asset to the Development Fund for Iraq.

Note 1: Claims made by individuals or non‑government entities on controlled assets transferred to the Development Fund for Iraq may be presented to the Government of Iraq.

Note 2: Controlled assets enjoy the same privileges, immunities and protections as provided under paragraph 22 of Resolution 1483.