S.I. No. 140/1959 - Exchange Control (Amendment) Regulations, 1959.

S.I. No. 140 of 1959.

EXCHANGE CONTROL (AMENDMENT) REGULATIONS, 1959.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by sections 27 and 30 of the Exchange Control Act, 1954 (No. 30 of 1954), as continued by the Exchange Control (Continuance) Act, 1958 (No. 30 of 1958), hereby make the following regulations :

1. (1)These Regulations may be citediI as the Exchange Control (Amendment) Regulations, 1959.

(2)These Regulations shall come into operation on the 24th day of August, 1959.

2. In these Regulations " the Principal Regulations " means the Exchange Control Regulations, 1959 ( S.I. No. 44 of 1959 ).

3. Paragraph (c) of Article 10 of the Principal Regulations is hereby amended by the substitution of " £500 " for " £250 ".

4. Paragraph (a) of Article 19 of the Principal Regulations is hereby amended by the substitution of " £20 " for " £10 ".

5. The Second Schedule to the Principal Regulations is hereby amended by—

(a) the deletion of " Iraq ", and

(b) the insertion of " Singapore ".

GIVEN under my Official Seal, this 18th day of August, 1959.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations, 1959, by further simplifying the procedure relating to payments for goods originating outside the Scheduled Territories ; by increasing from £10 to £20 the exempted amount of Sterling Area currency notes which may be exported by travellers to destinations outside Great Britain, Northern Ireland, the Channel Islands and the Isle of Man ; and by including Singapore in the Scheduled Territories and removing Iraq from those territories.