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STATUTORY RULES AND ORDERS. 1947. No. 395.
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EXCHANGE CONTROL ORDER, 1947 (SUPPLEMENTAL PROVISIONS) (No. 1) ORDER, 1947.
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I, PROINSIAS MAC AOGÁIN, Minister for Finance, in exercise of the powers conferred on me by the Exchange Control Order, 1947, hereby order as follows :
1. This Order may be cited as the Exchange Control Order, 1947 (Supplemental Provisions) (No. 1) Order, 1947.
2.—(1) In this Order, the expression " the Principal Order " means the Exchange Control Order, 1947.
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(2) This Order shall be construed as one with the Principal Order.
3.—(1) Paragraph (f), paragraph (k) and paragraph (p), so far as the said paragraph (p) relates to exports to a destination not in the United States of America or Canada, of Article 3 of the Principal Order shall come into operation on the 15th day of January, 1948.
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(2) Article 5 of the Principal Order shall come into operation on the 15th day of January, 1948.
4. Immigration officers and members of the Gárda Síochána are hereby authorised to act as authorised officers for the purposes of the Principal Order.
5. The banks specified in the First Schedule to this Order are hereby authorised to act at any of their offices in the State as authorised depositaries for the purposes of the Principal Order.
6.—(1) The securities specified in the Second Schedule to this Order are hereby declared to be reserved securities for the purposes of the Principal Order.
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(2) The following certificates of title are hereby exempted from the provisions of Article 5 of the Principal Order :
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(a) certificates of title to securities on which interest or dividend has not been paid for thirty years or more,
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(b) letters of allotment,
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(c) letters of rights.
7. The territories specified in the Third Schedule to this Order are hereby declared to be included for the purposes of the Principal Order in the expression " the scheduled territories."
8.—(1) The foreign currencies specified in the Fourth Schedule to this Order are hereby declared to be subject to the provisions of paragraph (1) and paragraph (2) of Article 4 of the Principal Order.
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(2) The foreign currencies specified in the Fourth Schedule to this Order shall be offered for sale to the Minister through one of the banks specified in the First Schedule to this Order at such price as may for the time being be determined by the Minister.
9. The evidence to be produced pursuant to paragraph (k) of Article 3 of the Principal Order shall be—
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(a) a declaration signed by a bank or stockbroker on behalf of each party to the transaction to which the relevant entry in a register relates that from the facts known to the signer of the declaration, or from inquiries he has made, he is satisfied that such party is not resident outside the scheduled territories or is not acting as nominee of any person so resident, or
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(b) where such declaration cannot be made, a certificate signed on behalf of the Minister that the transaction has his permission.
10. For the purposes of paragraph (p) of Article 3 of the Principal Order, the method of payment for all classes and descriptions of goods exported to any territory outside the scheduled territories shall be either—
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(a) in the case of exports to a territory the currency of which is specified in the Fourth Schedule to this Order, in either—
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(i) Irish currency from the bank account of a person resident in that territory or sterling from such an account, or
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(ii) freely transferable currency of that territory, or
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(b) in the case of exports to a territory the currency of which is not mentioned in the Fourth Schedule to this Order, in Irish currency from the bank account of a person resident in that territory or sterling from such an account.
11.—(1) A bank specified in the First Schedule to this Order may, in accordance with a direction given by the Minister, do any of the following things :
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(a) buy, sell, lend or borrow foreign currency,
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(b) make, or commit itself to make, payments to or by order of persons resident outside the scheduled territories orplace, or promise to place, sums to the credit of such persons,
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(c) effect any other transaction in the normal course of banking business.
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(2) A direction under this Article may be given to the banks specified in the First Schedule to this Order generally or specifically to any such bank and may be in respect of a series of transactions or a particular transaction.
12.—(1) Application for permission to buy, sell, lend, borrow or export gold shall be made to the Central Bank of Ireland in such form as it may direct and the Central Bank of Ireland is hereby authorised to grant such permission, subject to such conditions as it sees fit to impose, or to refuse such permission.
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(2) Where an amount of gold not exceeding £20 in value is being sold to a person permitted by the Central Bank of Ireland to buy gold, the sale shall be exempted from the provisions of paragraph (a) of Article 3 of the Principal Order.
13.—(1) The following currency notes are hereby declared to be subject to the provisions of paragraph (n) of Article 3 of the Principal Order :
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(a) notes which are or have at any time been legal tender in the United Kingdom or any part of the United Kingdom,
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(b) any bank notes of any bank of issue in the United Kingdom.
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(2) Where a person travelling to the State has with him bank notes of any bank of issue in the United Kingdom the value of which in the aggregate does not exceed £5, he shall be exempt in respect of the import of such notes from the provisions of paragraph (n) of Article 3 of the Principal Order provided he is not travelling in a vessel, vehicle or aircraft in which he is employed or engaged in any capacity.
14.—(1) Where a person travelling from the State—
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(a) has with him Irish currency notes the value of which in the aggregate does not exceed £5 and has not with him any other notes issued by any bank in, or which are or have been legal tender in, any part of the scheduled territories, or
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(b) has with him other notes such as aforesaid the value of which in the aggregate does not exceed £5 and has not with him any Irish currency notes, or
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(c) has with him Irish currency notes and other notes such as aforesaid (the value of such currency notes and other notes in the aggregate not being in excess of £5),such person shall be exempt in respect of the export of such notes from the provisions of paragraph (o) of Article 3 of the Principal Order provided he is not travelling in a vessel, vehicle or aircraft in which he is employed or engaged in any capacity.
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(2) Where a person travelling from the State has with him foreign currency the value of which in the aggregate does not exceed £10, he shall be exempt in respect of the export of such currency from the provisions of paragraph (o) of Article 3 of the Principal Order provided he is not travelling in a vessel, vehicle or aircraft in which he is employed or engaged in any capacity.
15. The personal luggage of travellers and any gift of value not more than £5 shall be exempted from the provisions of paragraph (p) of Article 3 of the Principal Order.
16. The Orders specified in the Fifth Schedule to this Order are hereby revoked, but any permission, certificate or exemption issued under any of those Orders which was in force immediately before the making of this Order shall continue in force as if it were issued under the Principal Order or this Order.
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Article 5.
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FIRST SCHEDULE.
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The Bank of Ireland.
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The Hibernian Bank, Ltd.
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The Munster and Leinster Bank, Ltd.
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The National Bank, Ltd.
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The National City Bank, Ltd.
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The Northern Bank, Ltd.
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The Provincial Bank of Ireland, Ltd.
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The Royal Bank of Ireland, Ltd.
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The Ulster Bank, Ltd.
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Guinness and Mahon.
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Article 6.
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SECOND SCHEDULE.
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1. Securities transferable by means of bearer certificates.
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2. Securities registered outside the state on which interest or dividends are payable by coupon.
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3. Securities registered outside the scheduled territories.
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4. Securities registered in the scheduled territories which can be transferred to or in a register outside the scheduled territories.
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Article 7.
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THIRD SCHEDULE.
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1. The United Kingdom and its dependent territories.
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2. The Commonwealth of Australia and its dependent territories.
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3. New Zealand and its dependent territories.
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4. The Union of South Africa and South West Africa.
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5. India.
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6. Pakistan.
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7. Palestine.
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8. Iraq.
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9. Transjordan.
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10. Iceland.
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11. The Faroe Islands.
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12. Burma.
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13. Ceylon.
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Article 8.
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FOURTH SCHEDULE.
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1. Argentine Pesos.
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2. Belgian Francs.
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3. Brazilian Cruzeiros.
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4. Canadian Dollars.
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5. Congolese Francs.
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6. Czechoslovak Crowns.
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7. Danish Kroner.
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8. Francs of the following territories, viz. :—
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Metropolitan France (which includes Corsica and Algeria), Monaco, French West Africa, French Equatorial Africa, Madagascar and its Dependencies, Reunion, French Somali Coast, French Guiana, Guadeloupe, Martinique, St. Pierre and Miquelon, Indo-China, New Caledonia, French Establishments in Oceania, Condominium of the New Hebrides, the Protectorates of Morocco and Tunisia, the French Mandated Territories of Cameroon and Togo.
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9. Lebanese Pounds.
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10. Luxembourg Francs.
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11. Netherlands Guilders.
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12. Netherlands West Indies Guilders.
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13. Netherlands East Indies Guilders.
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14. Newfoundland Dollars.
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15. Norwegian Kroner.
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16. Panamanian Dollars.
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17. Philippine Pesos.
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18. Pondicherry Rupees.
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19. Portuguese Escudos.
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20. Swedish Kronor.
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21. Swiss Francs.
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22. Syrian Pounds.
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23. Uruguayan Pesos.
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24. United States Dollars.
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Article 16.
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FIFTH SCHEDULE.
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Emergency Powers (Finance) (No. 5) Order, 1940 (S. R. & O. No. 220 of 1940).
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Emergency Powers (Finance) (No. 6) Order, 1940 (S. R. & O. No. 236 of 1940).
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Emergency Powers (Finance) (No. 7) Order, 1941 (S. R. & O. No. 21 of 1941)
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Emergency Powers (Payment for Exports) (No 1) Order, 1941 (S. R. & O. No. 157 of 1941).
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Emergency Powers (Payment for Exports) (No. 2) Order, 1941 (S. R. & O. No. 158 of 1941).
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Emergency Powers (Finance) (No. 8) Order, 1941 (S. R. & O. No. 223 of 1941).
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Emergency Powers (Finance) (No. 9) Order, 1941 (S. R. & O. No. 390 of 1941).
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Emergency Powers (Finance) (No. 10) Order, 1945 (S. R. & O. No. 59 of 1945).
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Emergency Powers (Finance) (No. 11) Order, 1945 (S. R. & O. No. 60 of 1945).
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Emergency Powers (Finance) (No. 6) Order, 1940 (Amendment) Order, 1946 (S. R. & O. No. 344 of 1946).
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Emergency Powers (Finance) (No. 7) Order, 1941 (Amendment) Order, 1946 (S. R. & O. No. 350 of 1946).
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Emergency Powers (Finance) (No. 7) Order, 1941 (Amendment) Order, 1947 (S. R. & O. No. 238 of 1947).
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GIVEN under my Official Seal, this 5th day of December, 1947.
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(Signed), PROINSIAS MAC AOGÁIN,
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Minister for Finance.
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