Commonwealth Consolidated Regulations Commonwealth Consolidated Regulations(1) This regulation applies to:
(a) the Libyan government; and
(b) the following persons and entities:
(i) a Libyan national or a person or entity subject to Libyan jurisdiction;
(ii) a designated person or entity;
(iii) a person or entity able to claim through, or for the benefit of, the Libyan government or a person or entity mentioned in subparagraph ( i) or (ii).
(2) The Libyan government, or the person or entity, must not make a claim or demand, or take any action, against any other person or entity for breach of contract or a failure to perform a transaction if the performance of the contract or transaction was prevented:
(a) under these Regulations; or
(b) because of resolutions relating to Libya, as existing from time to time.
Note: Resolutions relating to Libya could in 2014 be viewed on the United Nations' website (http://www.un.org).
(3) This regulation has effect despite any other law of the Commonwealth or any law of a State or Territory.