Document ID: chunk:federal_register_of_legislation:F2015C00868:reg:12
Version: federal_register_of_legislation:F2015C00868
Segment Type: reg
Provision Reference: reg 12
Character Range: 12461–13246

12  Prohibition relating to controlled assets
 (1) A person contravenes this regulation if:
 (a) the person holds a controlled asset ; and
 (b) the person, otherwise than in accordance with arrangements under regulation 11:
 (i) uses or deals with the asset; or
 (ii) allows the asset to be used or dealt with; or
 (iii) facilitates the use of, or the dealing with, the asset.
 (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.