Australia’s Autonomous Sanctions Regulations 2011: Assets handling, Part 2

24Informing AFP of opinion about asset

(1)This regulation sets out what a person who is holding an asset must do if the person forms an opinion (a notifiable opinion) that:

(a)the asset is a controlled asset; or

(b)the asset, having been a controlled asset, or having been previously treated by the person as a controlled asset, is not, or is no longer, a controlled asset.

(2)Paragraph (1) (b) does not apply if:

(a)the asset has been removed from the document mentioned in regulation 22; or

(b)all designated persons and entities associated with the asset have been removed from the document.

(3)As soon as practicable after a person forms a notifiable opinion, the person must inform the AFP of:

(a)the asset about which the opinion was formed; and

(b)as much information about the asset (including information about the owner or controller of the asset) as is known to the person; and

(c)the reasons for the opinion.

25Protection of information

(1)This regulation applies to a person who, at the time that something is done under the Act or these Regulations (a relevant action), is:

(a)the Minister; or

(b)the Secretary of the Department; or

(c)an APS employee; or

(d)an AFP employee, or a member of the Australian Federal Police, within the meaning of the Australian Federal Police Act 1979; or

(e)a person who holds a controlled asset or an asset that the person suspects may be a controlled asset; or

(f)a person employed by a person mentioned in paragraph (e).

(2)A person to whom this regulation applies is not required:

(a)to produce in a court any document that has come into the custody or control of the person in the course of, or because of, the relevant action; or

(b)to divulge or communicate to a court any matter or thing that has come to the notice of the person in the course of, or because of, the relevant action;

unless it is necessary to do so to comply with the Act or these Regulations.

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