"superior court "means the Federal Court of Australia or the Supreme Court of a State or Territory.

15 Listing persons, entities and assets

(1)

The Minister must list a person or entity under this section if the Minister is satisfied of the prescribed matters.

(2)

The Governor-General may make regulations prescribing the matters of which the Minister must be satisfied before listing a person or entity under subsection (1).

(3)

The Minister may list an asset, or class of asset, under this section if the Minister is satisfied of the prescribed matters.

(4)

The Governor-General may make regulations prescribing the matters of which the Minister must be satisfied before listing an asset under subsection (3).

(5)

A matter must not be prescribed under subsection (2) or (4) unless the prescription of the matter would give effect to a decision that:

(a)

the Security Council has made under Chapter VII of the Charter of the United Nations; and

(b)

Article 25 of the Charter requires Australia to carry out; and

(c)

relates to terrorism and dealings with assets.

(6)

A person or entity is listed by notice in the Gazette .

(7)

An asset or class of asset is listed by notice in the Gazette .

16 Minister may revoke the listing

(1)

The Minister may revoke a listing under section 15 if the Minister is satisfied that the listing is no longer necessary to give effect to a decision that:

(a)

the Security Council has made under Chapter VII of the Charter of the United Nations; and

(b)

Article 25 of the Charter requires Australia to carry out; and

(c)

relates to terrorism and dealings with assets.

(2)

The Minister may revoke the listing either at the Minister's own instigation or on application by the listed person or entity.

(3)

The listing is revoked by notice in the Gazette .

(4)

The listing is revoked at the start of the day immediately after the day on which notice is published in the Gazette .

17 Listed person or entity may apply to have the listing revoked

(1)

A listed person or entity may apply to the Minister to have the listing revoked.

(2)

The application must:

(a)

be in writing; and

(b)

set out the circumstances relied upon to justify the application.

(3)

The Minister is not required to consider an application (the current application ) by a listed person or entity under this section if the listed person or entity has made an application under this section within one year before the current application .

18 Proscription by regulation

(1)

The Governor-General may make regulations proscribing persons or entities under this section.

(2)

A person or entity must not be proscribed under subsection (1) unless the proscription would give effect to a decision:

(a)

that the Security Council has made under Chapter VII of the Charter of the United Nations; and

(b)

that Article 25 of the Charter requires Australia to carry out; and

(c)

that relates to terrorism and dealings with assets; and

(d)

under which the person or entity is identified (whether in the decision or using a mechanism established under the decision) as a person or entity to which the decision relates.

(3)

The regulations may proscribe persons or entities under this section by incorporating a list of persons or entities identified, either in the decision itself or using a mechanism established under the decision, as persons or entities to which the decision relates. The list may be incorporated by the regulations as it exists from time to time.

19 Effect of resolution ceasing to bind Australia

(1)

In so far as a listing under section 15 gives effect to a particular decision of the Security Council, the listing is revoked when Article 25 of the Charter of the United Nations ceases to require Australia to carry out that decision.

(2)

In so far as regulations proscribing a person or entity under section 18 give effect to a particular decision of the Security Council:

(a)

the regulations cease to have effect when Article 25 of the Charter of the United Nations ceases to require Australia to carry out that decision; and

(b)

they do not revive, even if Australia again becomes required to carry out the decision.

(3)

However, to avoid doubt, nothing in this section prevents:

(a)

the revocation, under section 16, of a listing; or

(b)

the repeal of regulations; or

(c)

the making of regulations that are the same in substance as regulations that have ceased to have effect because of this section.

20 Offence—dealing with freezable assets

(1)

A person commits an offence if:

(a)

the person holds an 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 the asset or dealing with the asset; and

(c)

the asset is a freezable asset; and

(d)

the use or dealing is not in accordance with a notice under section 22.

Penalty: Imprisonment for 5 years.

(2)

Strict liability applies to the circumstance that the use or dealing with the asset is not in accordance with a notice under section 22.

(3)

It is a defence if the person proves that the use or dealing was solely for the purpose of preserving the value of the asset.

(4)

Section 15.1 of the Criminal Code (extended geographical jurisdiction—category A) applies to an offence against subsection (1).

21 Offence—giving an asset to a proscribed person or entity

(1)

A person commits an offence if:

(a)

the person, directly or indirectly, makes an asset available to a person or entity; and

(b)

the person or entity to whom the asset is made available is a proscribed person or entity; and

(c)

the making available of the asset is not in accordance with a notice under section 22.

Penalty: Imprisonment for 5 years.

(2)

Strict liability applies to the circumstance that the making available of the asset is not in accordance with a notice under section 22.

(3)

Section 15.1 of the Criminal Code (extended geographical jurisdiction—category A) applies to an offence against subsection (1).

22 Authorised dealings

(1)

The owner of a freezable asset may apply in writing to the Minister for permission to use or deal with the asset in a specified way.

(2)

The owner of an asset may apply in writing to the Minister for permission to make the asset available to a proscribed person or entity specified in the application.

(3)

The Minister may, by written notice:

(a)

permit a freezable asset specified in the notice to be used or dealt with in a specified way; or

(b)

permit an asset specified in the notice to be made available to a proscribed person or entity specified in the notice.

(4)

The notice may be subject to conditions.

(5)

The notice must be given to the owner of the asset as soon as practicable after it is made.

(6)

The Minister may delegate the Minister's powers and functions under this section to:

(a)

the Secretary of the Department; or

(b)

an SES employee, or acting SES employee, in the Department.

The delegation must be in writing.

(7)

The delegate must comply with any directions of the Minister in exercising powers or functions under the delegation.

22A Regulations on procedures relating to freezable assets

(1)

The Governor-General may make regulations relating to procedures relating to assets that are, may be or may become freezable assets.

(2)

The regulations may provide for procedures relating to information (including personal information) relating to such assets in circumstances involving:

(a)

a listing, or proposed listing, of a person, entity, asset or class of asset under section 15; or

(b)

a question whether an asset is or may become a freezable asset; or

(c)

an application for, or grant of, permission under section 22.

(3)

Subsection (2) does not limit subsection (1).

23 Part prevails over conflicting legal obligations

This Part prevails over provisions in laws of the Commonwealth, or of a State or Territory, that would otherwise require a person to act in contravention of this Part.

24 Indemnity for holder of assets

A person is not liable to an action, suit or proceeding for anything done or omitted to be done in good faith and without negligence in compliance or purported compliance with this Part.

25 Compensation for persons wrongly affected

If:

(a)

the owner or controller of an asset instructs a person holding the asset to use or deal with it; and

(b)

the holder refuses to comply with the instruction; and

(c)

the refusal was in good faith, and without negligence, in purported compliance with this Part; and

(d)

the asset was not a freezable asset; and

(e)

the owner of the asset suffered loss as a result of the refusal;

the owner of the asset is entitled to be compensated by the Commonwealth for that loss.

26 Injunctions

(1)

If a person has engaged, is engaging, or proposes to engage, in conduct involving a contravention of this Part, a superior court may by order grant an injunction restraining the person from engaging in conduct specified in the order.

(2)

An injunction may only be granted on application by the Attorney-General.

(3)

On an application, the court may, if it thinks it appropriate, grant an injunction by consent of all parties to the proceedings, whether or not the court is satisfied that subsection (1) applies.

(4)

A superior court may, if it thinks it desirable, grant an interim injunction pending its determination of an application.

(5)

A court is not to require the Attorney-General or anyone else, as a condition of granting an interim injunction, to give an undertaking as to damages.

(6)

A court may discharge or vary an injunction it has granted.

(7)

The power to grant or vary an injunction restraining a person from engaging in conduct may be exercised:

(a)

whether or not it appears to the court that the person intends to engage again, or to continue to engage, in such conduct; and

(b)

whether or not the person has previously engaged in such conduct.