ACKRELL CAPITAL Cannabis Investment Report | December 2017 tion or thinking or behaviour [sic] or perception or mood,” that may produce “a state of dependence” and that are subject to abuse “so as to constitute a public health and social problem warranting the placing of the substance under international control.” Substances addressed by the 1971 Conven- tion include THC, barbiturates, amphetamines and psychedelics such as LSD. The 1971 Conven- tion establishes four schedules of substances subject to increasingly strict controls in the following order: Schedule IV, Schedule IH, Schedule II and Schedule I. Schedule I includes THC and certain of its isomers and stereochemical variants. Schedule I includes dronabinol (a synthetic THC) and its stereochemical variants. The United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Sub- stances of 1988 (Traffic Convention) establishes additional tools for enforcing provisions of the 1961 and 1971 Conventions. The Traffic Convention provides for international cooperation in arresting and prosecuting illicit traffickers of substances scheduled under the 1961 and 1971 Conventions and in disrupting their financial and distribution networks through extradition, anti-money laundering practices, asset forfeiture and other methods. Generally, the Conventions contemplate that the manufacture, export, import, distribution, use and possession of scheduled substances should be allowed only for medical and scientific purposes under legal authority and that penalties, including criminal penalties, should apply to those who engage in such activities for other purposes or outside legal authority. Countries participating in the Conventions are generally required to enact laws and regulations that carry out the provisions of the Conventions, which may require them to establish dedicated regulatory agencies, track and report physical invento- ries as well as production and revenue data, implement and enforce lab