7Permit for assets and controlled assets

7 Permit for assets and controlled assets

Application for permit (1) A person may apply, in writing, to the Minister for a permit authorising: (a) the making available of an asset that would otherwise contravene subsection 5(1); or (b) a use of, or dealing with, a controlled asset that would otherwise contravene subsection 6(1). (2) The application must be for a basic expense dealing, a legally required dealing, a contractual dealing, a required payment dealing or an extraordinary expense dealing within the meaning of regulation 5 of the Charter of the United Nations (Dealing with Assets) Regulations 2008. (3) The application must state which kind of dealing the application is for. Grant of permit (4) If the application is for a basic expense dealing, the Minister: (a) must give the Committee notice of the application; and (b) may grant the permit only if the Committee does not make a negative decision in relation to the application within 5 working days after the notice is given. (5) If the application is for a legally required dealing, the Minister may grant the permit only after giving the Committee notice of the application. (6) If the application is for a contractual dealing, the Minister may grant the permit. (7) If the application is for a required payment dealing, the Minister may grant the permit only after giving the Committee at least 10 working days’ notice. (8) If the application is for an extraordinary expense dealing, the Minister: (a) must give the Committee notice of the application; and (b) may grant the permit only with the Committee’s approval. (9) The permit must be: (a) in writing; and (b) given to the applicant. (10) The permit is subject to any conditions specified in the permit.

Note: Section 13A of the Act deals with the invalidation of permissions etc. granted on the basis of false or misleading information or documents.