Regulation 12

A person in Singapore or a citizen of Singapore outside Singapore must not engage in any financial transaction with respect to crude oil illicitly exported from Libya aboard a designated vessel.

In proceedings for an offence for contravening paragraph (1), it is not necessary for the prosecution to prove that an accused knew or had reason to believe that the financial transaction is with respect to crude oil illicitly exported from Libya.

However, it is a defence to the charge for an offence for contravening paragraph (1) for the accused to prove, on a balance of probabilities, that the accused did not know, and could not by the exercise of due diligence have known, that the financial transaction is with respect to crude oil illicitly exported from Libya.