12Permit for assets and controlled assets

12 Permit for assets and controlled assets

(1) The Minister may, on application, grant a person a permit authorising: (a) the making available of an asset to a person or entity that would otherwise contravene subregulation 10(1); or (b) a use of, or dealing with, a controlled asset that would otherwise contravene subregulation 11(1).

Note: Section 13A of the Act applies to a permit granted by the Minister under this subregulation.

(2) An application must be for a basic expense dealing, a contractual dealing or an extraordinary expense dealing mentioned in regulation 5 of the Charter of the United Nations (Dealings with Assets) Regulations 2008. (3) An application must specify which kind of dealing mentioned in subregulation (2) the application is for. (4) If the application is for a basic expense dealing, the Minister: (a) must notify the Committee of the application; and (b) may grant a permit only if 3 working days have passed since the notice was given, and the Committee has not advised against granting a permit to the applicant. (5) If the application is for an extraordinary expense dealing, the Minister: (a) must notify the Committee of the application; and (b) may grant a permit only with the approval of the Committee. (6) A permit is subject to any conditions specified in the permit.

Note: Part 2 of the Charter of the United Nations (Dealings with Assets) Regulations 2008 applies to these Regulations.