11Prohibition relating to controlled assets

11 Prohibition relating to controlled assets

(1) A person contravenes this regulation if: (a) the person holds a controlled asset; and (b) the person: (i) uses or deals with the asset; or (ii) allows the asset to be used or dealt with; or (iii) facilitates the use of the asset or dealing with the asset; and (c) the use or dealing is not authorised by a permit under regulation 12. (1A) Strict liability applies to the circumstance that the use of or dealing with the asset is not authorised by a permit under regulation 12.

Note: For strict liability, see section 6.1 of the Criminal Code.

(2) Section 15.1 of the Criminal Code applies to an offence under section 27 of the Act that relates to a contravention of subregulation (1).

Note 1: Subregulation (2) has the effect that the offence has extraterritorial operation.

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.