Proctor : October 2016
37 PROCTOR | October 2016 with Christine Smyth ‘It is a pleasant world we live in, sir, a very pleasant world. There are bad people in it, Mr. Richard, but if there were no bad people, there would be no good lawyers.’ 1 What’s new in succession law Country Do financial sanctions/asset restrictions apply? Central African Republic Yes, legislation.gov.au/Details/F2014C01373 Crimea and Sevastopol Yes, legislation.gov.au/Series/F2015L00390 Democratic People’s Republic of Korea (North Korea) Yes, legislation.gov.au/Series/F2006L05741 Democratic Republic of the Congo Yes, legislation.gov.au/Series/F2008L01031 Eritrea Yes, legislation.gov.au/Series/F2010L00573 Former Yugoslavia Yes: Autonomous Sanctions (Designated and Declared Persons – Former Federal Republic of Yugoslavia) List 2012 legislation.gov.au/Details/F2012L00477 Guinea-Bissau No Iran Yes: Charter of the United Nations (Sanctions – Iran) Regulation 2016 legislation.gov.au/Details/F2016L01181 Iraq Yes: Charter of the United Nations (Sanctions – Iraq) Regulations 2008 legislation.gov.au/Series/F2008L01033/ ISIL (Da’esh) and Al-Qaida Yes: Charter of the United Nations (Sanctions – Al-Qaida) Regulations 2008 legislation.gov.au/Series/F2008L01023 Lebanon Yes Libya Yes Russia Yes Somalia Yes South Sudan Yes Sudan Yes Syria Yes Ukraine Yes Yemen Yes Zimbabwe Yes Generally Australian law prohibits, without a sanctions permit, dealing with ‘assets’ that are owned or controlled by a ‘designated person or entity’ of the country where the sanction law applies, or making ‘assets’ directly or indirectly available to a ‘designated person or entity’ for the country where the sanction law applies. ‘Asset’ is generally defined broadly to include an asset of any kind, whether tangible or intangible, movable or immovable. There is specific legislation which applies for each UN sanction that Australia has adopted. This table (below) lists the Christine Smyth is deputy president of Queensland Law Society, a QLS accredited specialist (succession law) and partner at Robbins Watson Solicitors. She is a member of the QLS Council Executive, QLS Council, QLS Specialist Accreditation Board, the Proctor editorial committee, STEP, and an associate member of the Tax Institute. Christine recently retired her position as a member of the QLS Succession Law Committee however remains as a guest. Notes 1 Charles Dickens, The Old Curiosity Shop. 2 Public Trustee of Qld v Mrs X  QSC 179 at . 3 At . 4 At . 5 At -. 6 At . 7 At . 8 At. 9 At . 10 At -. 11 At . 12 My thanks and gratitude to QLS policy solicitors Louise Pennisi, Wendy Devine and Julia Connelly for their assistance in undertaking this extensive research. 13 See dfat.gov.au/international-relations/security/ sanctions/pages/sanctions.aspx, and the Charter of the United Nations (Dealing with Assets) Regulations 2008, legislation.gov.au/Details/ F2015C00761. 14 Autonomous Sanctions Regulations 2011, legislation.gov.au/Details/F2013C00777. sanctions regimes, and whether the regime includes financial sanctions. So if your estate administration involves a distribution of an estate asset to one of these countries, your client will need to be aware well in advance in order that they may plan for the difficulties that will lie ahead in giving effect to the distribution. The list of nations on which sanctions are imposed is subject to change and practitioners should always cross-check the current status of any country in matters of this kind.