(1) A person contravenes this section if:
(a) the person holds a controlled asset; and
(b) the person:
(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; and
(c) the use or dealing is not authorised by a permit under section 18.
(2) Section 15.1 of the Criminal Code applies to an offence under section 27 of the Act that relates to a contravention of subsection (1).
Note 1: Subsection (2) has the effect that the offence has extraterritorial application.
Note 2: This section is a UN sanction enforcement law as specified by the Minister under the Charter of the United Nations (UN Sanction Enforcement Law) Declaration 2008 .