13APermit for assets and controlled assets—grant—permissible purposes

13A Permit for assets and controlled assets—grant—permissible purposes

(1) This regulation applies if a person has made an application under regulation 13. (2) The Minister may grant the permit only if: (a) the Minister: (i) is satisfied that the use or dealing is for the purpose or purposes stated in the application; and (ii) has consulted in advance with the Libyan government about the application; and (iii) has given the Committee and the Libyan government notice of the application; and (iv) has given the Committee notice that the controlled asset will not be made available to, or for the benefit of, a designated person; and (b) the Committee has not made a negative decision in relation to the application within 5 working days after the notice mentioned in subparagraph (a)(iii) is given; and (c) the Libyan government has not objected to the proposed use or dealing within 5 working days after the notice mentioned in subparagraph (a)(iii) is given. (3) The permit is subject to any conditions specified in the permit.

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