11Prohibitions relating to dealings with designated persons or entities

11 Prohibitions relating to dealings with designated persons or entities

(1) A person contravenes this subregulation if: (a) the person, directly or indirectly, makes an asset available to, or for the benefit of a designated person or entity; and (b) the making available of the asset is not authorised by a permit under regulation 12C. (2) Subregulation (1) does not apply to the making available of an asset to, or for the benefit of: (a) the Libyan Investment Authority; or (b) the Libyan Africa Investment Portfolio.

Note: A defendant bears an evidential burden in relation to the matter in subregulation (2): see subsection 13.3(3) of the Criminal Code.

(3) For an offence under section 27 of the Act that relates to a contravention of subregulation (1) by an individual, strict liability applies to the circumstance that the making available of the asset is not authorised by a permit under regulation 12C. (4) Section 15.1 of the Criminal Code (Extended geographical jurisdiction—category A) applies to an offence under section 27 of the Act that relates to a contravention of subregulation (1).

Note 1: Subregulation (4) has the effect that the offence has extraterritorial operation.

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