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S.I. No. 62/1960 - Exchange Control (Amendment) Regulations, 1960.

S.I. No. 62 of 1960.

EXCHANGE CONTROL (AMENDMENT) REGULATIONS, 1960.

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 cited as the Exchange Control (Amendment) Regulations, 1960.

(2) These Regulations shall come into operation on the 31st day of March, 1960.

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

3. Article 2 of the Principal Regulations is hereby amended by the deletion of the definition of " the U.S. Dollar Area."

4. Articles 9, 10, 11 and 12 of the Principal Regulations are hereby amended by the substitution in each Article of " any goods of a country of origin outside the scheduled territories " for " goods as described in Part I of the Fourth Schedule to these Regulations."

5. Article 19 of the Principal Regulations is hereby amended by the substitution in paragraph (a) of " £50 " for " £20 " (inserted by the Exchange Control (Amendment) Regulations, 1959 ( S.I. No. 140 of 1959 )) and of " £250 " for " £100."

6. The First Schedule to the Principal Regulations and Part I of the Fourth Schedule thereto are hereby deleted.

GIVEN under my Official Seal, this 30th day of March, 1960.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations, 1959, so as to allow, without the necessity of applying for any prior permission, (a) the purchase in the U.S. Dollar Area and Canada of any goods required for use in the State instead of a limited range as hitherto and (the bringing with them by travellers to destinations outside Great Britain, Northern Ireland, the Channel Islands and the Isle of Man of up to £50 in Sterling Area currency notes instead of £20 as hitherto and up to £250 in foreign currency notes instead of £100 as hererto.