S.I. No. 11/1966 - Exchange Control Regulations, 1966.

S.I. No. 11 of 1966.

EXCHANGE CONTROL REGULATIONS, 1966.

I, JOHN LYNCH, Minister for Finance, in exercise of the powers conferred on me by sections 27 , 30 and 31 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, 1966.

(2) These Regulations shall come into operation on the 21st day of January, 1966.

(3) The Exchange Control Regulations, 1959 to 1965, and these Regulations may be cited together as the Exchange Control Regulations, 1959 to 1966.

2. The Exchange Control Regulations, 1959 ( S.I. No. 44 of 1959 ), shall have effect subject to the following amendments :

(a) Article 9 shall not apply where the purchase is from a person resident in Southern Rhodesia or is against payment to a person so resident or where the country of origin of the goods is Southern Rhodesia ;

(b) Article 10 shall not apply where the purchase is from a person resident in Southern Rhodesia or where payment is to a person so resident or where the country of origin of the goods is Southern Rhodesia ;

(c) neither Article 11 nor Article 12 shall apply where the country of origin of the goods is Southern Rhodesia ;

(d) Article 13 shall not apply where the supply is by a person resident in Southern Rhodesia or is against payment to to a person so resident ;

(e) Article 14 shall not apply where the payment is made to a person resident in Southern Rhodesia or is in respect of a supply by a person so resident ;

(f) neither Article 15 nor Article 16 shall apply where the supply is by a person resident in Southern Rhodesia ;

(g) paragraph (a) of Article 19 shall not apply where the traveller is travelling to Southern Rhodesia ;

(h) neither paragraph (a) nor paragraph (b) of Article 20 shall apply where—

(i) the goods are exported to a destination in Southern Rhodesia, or

(ii) the goods are exported to a destination outside Southern Rhodesia and the bank account is of a person resident in Southern Rhodesia.

The Bank of Nova Scotia, 25 Suffolk Street, Dublin, is hereby appointed to be an authorised dealer.

4. The Second Schedule to the Exchange Control Regulations, 1959 (inserted by the Exchange Control Regulations, 1964 ( S.I. No. 51 of 1964 )), as amended by the Exchange Control (No. 2) Regulations, 1964 ( S.I. No. 215 of 1964 ), the Exchange Control (No. 3) Regulations, 1964 ( S.I. No. 266 of 1964 ), the Exchange Control Regulations, 1965 ( S.I. No. 66 of 1965 ), and the Exchange Control (No. 3) Regulations, 1965 ( S.I. No. 230 of 1965 ), is hereby amended by the insertion of "Singapore."

GIVEN under my Official Seal, this 20th day of January, 1966.

JOHN LYNCH,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations, 1959, by removing, in the case of Rhodesia, the general exchange control exemptions applicable to places outside the Scheduled Territories and have the effect that, in future, payments for imports of goods and services from Rhodesia will require the approval of the Central Bank, currency notes may not be exported by travellers to Rhodesia except as permitted by the Central Bank and exports to Rhodesia must be paid for in specified currency. The Regulations also appoint the Bank of Nova Scotia to be an authorised dealer for the purposes of the Exchange Control Acts and amend the list of Scheduled Territories by the inclusion by name of Singapore (previously included in Malaysia).