Commonwealth Numbered Regulations

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1994 No. 131 CHARTER OF THE UNITED NATIONS (SANCTIONS-LIBYA) REGULATIONS - REG 5

Financial sanctions against Libya: citizens of Australia who are outside Australia
5. (1) A citizen of Australia who is outside Australia, and who holds the
following funds or financial resources, must not, intentionally or recklessly,
use the funds or financial resources for any purpose:

   (a)  funds or financial resources that are owned or controlled, directly or
        indirectly, by:

        (i)    the Government of Libya; or

        (ii)   a public authority of Libya;

   (b)  funds or financial resources that are owned or controlled, directly or
        indirectly, by a commercial, industrial or public utility undertaking
        that is owned or controlled, directly or indirectly, by:

        (i)    the Government of Libya; or

        (ii)   a public authority of Libya;

   (c)  funds or financial resources that are owned or controlled, directly or
        indirectly, by a commercial, industrial or public utility undertaking
        that is owned or controlled, directly or indirectly, by an entity that
        is owned or controlled by:

        (i)    the Government of Libya; or

        (ii)   a public authority of Libya;

   (d)  funds or financial resources that are owned or controlled, directly or
        indirectly, by a commercial, industrial or public utility undertaking
        that is owned or controlled, directly or indirectly, by a person
        acting for:

        (i)    the Government of Libya; or

        (ii)   a public authority of Libya; or

        (iii)  an entity that is owned or controlled by the Government of
               Libya; or

        (iv)   an entity that is owned or controlled by a public authority of
               Libya. Penalty: 50 penalty units.

(2) A citizen of Australia who is outside Australia, and who holds funds or
financial resources that are not referred to in subregulation (1), must not,
intentionally or recklessly, use the funds or financial resources, directly or
indirectly, for the benefit of:

   (a)  the Government of Libya; or

   (b)  a public authority of Libya; or

   (c)  a commercial, industrial or public utility undertaking that is owned
        or controlled, directly or indirectly, by:

        (i)    the Government of Libya; or

        (ii)   a public authority of Libya; or

   (d)  a commercial, industrial or public utility undertaking that is owned
        or controlled, directly or indirectly, by an entity that is owned or
        controlled by:

        (i)    the Government of Libya; or

        (ii)   a public authority of Libya; or

   (e)  a commercial, industrial or public utility undertaking that is owned
        or controlled, directly or indirectly, by a person for:

        (i)    the Government of Libya; or

        (ii)   a public authority of Libya; or

        (iii)  an entity that is owned or controlled by the Government of
               Libya; or

        (iv)   an entity that is owned or controlled by a public authority of
               Libya. Penalty: 50 penalty units.

(3) Subregulations (1) and (2) do not apply to funds and financial resources
in a bank account if:

   (a)  the account contains only funds and financial resources derived from
        the sale or supply of one or more of the following products:

        (i)    petroleum;

        (ii)   petroleum products;

        (iii)  agricultural products;

        (iv)   agricultural commodities; and

   (b)  the products originate in Libya; and

   (c)  the products are exported from Libya on or after 1 December 1993. 


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