Significant Reforms To United Nations Sanction Laws

The Australian Government has responded to the recommendations of the Cole Inquiry by introducing the International Trade Integrity Bill 2007 into Parliament on 14 June 2007.

The Bill, which amends the Charter of the United Nations Act 1945 and other Acts, introduces new compliance obligations for companies or persons who engage in conduct in connection with United Nations ("UN") sanctions.

Some of the main provisions of the Bill:

• create a new offence applying to persons or corporations who engage in conduct that contravenes an UN sanction in force in Australia

• create a new offence applying to persons or corporations who knowingly or recklessly provide false or misleading information in relation to the administration of UN sanctions, including in relation to issuing of permits or authorisations