12Prohibition relating to dealings with designated person or entity

12 Prohibition relating to dealings with designated person or entity

(1) A person contravenes this regulation if: (a) the person directly or indirectly makes an asset available to, or for the benefit of: (i) a designated person; or (ii) a person acting on behalf of or at the direction of a designated person; or (iii) an entity owned or controlled, directly or indirectly, by a designated person; and (b) the making available of the asset is not authorised by a permit under regulation 14. (1A) Strict liability applies to the circumstance that the making available of the asset is not authorised by a permit under regulation 14.

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.