(1) A person contravenes this subsection 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.
(2) For an offence under section 27 of the Act that relates to a contravention of subsection (1) of this section by an individual, strict liability applies to the circumstance that the use of, or dealing with, the asset is not authorised by a permit.
(3) Section 15.1 of the Criminal Code (Extended geographical jurisdiction--category A) applies to an offence under section 27 of the Act that relates to a contravention of subsection (1) of this section.
Note 1: Subsection (3) has the effect that the offence has extraterritorial operation.
Note 2: This section is specified as a UN sanction enforcement law in the Charter of the United Nations (UN Sanction Enforcement Law) Declaration 2008 .