Document ID: chunk:federal_register_of_legislation:F2015C00868:reg:11
Version: federal_register_of_legislation:F2015C00868
Segment Type: reg
Provision Reference: reg 11
Character Range: 11565–12461

11  Certain controlled assets must be transferred to Development Fund for Iraq
 (1) A person who holds a controlled asset that is not subject to a judicial, administrative or arbitral lien or judgement must, as soon as practicable, inform:
 (a) the Secretary of the Department; or
 (b) the Australian Federal Police, or a police force of a State or Territory.
 (2) If the Department confirms that the person holds a controlled asset the person must comply with any reasonable arrangements specified by the Department for the transfer of the controlled asset to the Development Fund for Iraq.
Note 1: Claims made by individuals or non‑government entities on controlled assets transferred to the Development Fund for Iraq may be presented to the Government of Iraq.
Note 2: Controlled assets enjoy the same privileges, immunities and protections as provided under paragraph 22 of Resolution 1483.