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S.I. No. 66/1965 - Exchange Control Regulations, 1965.

S.I. No. 66 of 1965.

EXCHANGE CONTROL REGULATIONS, 1965.

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, 1962 (No. 38 of 1962), hereby make the following regulations:

1.—(1) These Regulations may be cited as the Exchange Control Regulations, 1965.

(2) These Regulations shall come into operation on the 12th day of April, 1965.

(3) The Exchange Control Regulations, 1959 to 1964, and these Regulations may be cited together as the Exchange Control Regulations, 1959 to 1965.

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

3. Where a person in the State offers foreign currency for sale to a person permitted under section 4 of the Exchange Control Act, 1954 , to buy foreign currency, the sale shall be exempted from the provisions of that section.

4. Article 19 of the Principal Regulations is hereby amended by the substitution in paragraph (a) of "£25" for "£50" (inserted by the Exchange Control (Amendment) Regulations, 1960 ( S.I. No. 62 of 1960 )).

5. The Second Schedule to the Principal Regulations (inserted by the Exchange Control Regulations, 1964 ( S.I. No. 51 of 1964 ) and as amended by the Exchange Control (No. 2) Regulations, 1964 ( S.I. No. 215 of 1964 )) is hereby amended by—

(a) the substitution of "United Republic of Tanzania" for "United Republic of Tanganyika and Zanzibar", and

(b) the insertion of "the Gambia".

6. The Third Schedule to the Principal Regulations is hereby amended by the insertion of "Japanese yen" and "Spanish pesetas".

GIVEN under my Official Seal, this 8th day of April, 1965.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations, 1959, by reducing to £25 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; by amending the list of scheduled territories to take account of changes in nomenclature and status of certain states (the composition of the scheduled territories remains unchanged); and by adding "Japanese yen" and "Spanish pesetas" to the list of specified currencies. These Regulations confirm also existing practice in relation to the sale by residents of the State of foreign currency to persons, other than banks, who are permitted to purchase foreign currency.