S.I. No. 40/1958 - Exchange Control (Amendment) Regulations, 1958.

S.I. No. 40 of 1958.

EXCHANGE CONTROL (AMENDMENT) REGULATIONS, 1958.

I, SÉAMAS Ó RIAIN, Minister for Finance, in exercise of the powers conferred on me by sections 4 , 27 and 30 of the Exchange Control Act, 1954 (No. 30 of 1954), hereby make the following regulations :

1.—(1) These Regulations may be cited as the Exchange Control (Amendment) Regulations, 1958.

(2) The Principal Regulations, the Exchange Control (Amendment) Regulations, 1955 ( S.I. No. 186 of 1955 ), and these Regulations may be cited as the Exchange Control Regulations, 1955 to 1958.

(3) These Regulations shall come into operation on the 10th day of February, 1958.

2. In these Regulations " the Principal Regulations " means the Exchange Control Regulations, 1955 ( S.I. No. 129 of 1955 ).

3. Article 10 of the Principal Regulations is hereby amended as follows :

(i) in paragraph (b) " where the value of the goods exceeds £250, the person resident in the State furnishes to the authorised dealer through whose agency the payment is to be made, before the payment is made " shall be substituted for " before the payment is made, the person resident in the State furnishes to the authorised dealer through whose agency the payment is to be made "

(ii) in clause II of subparagraph (v) of paragraph (b) and in subclause (B) of clause (II) of subparagraph (vi) of paragraph (b) " the value of the goods exceeds £25 and " shall be deleted,

(iii) for clause (III) of subparagraph (v) of paragraph (b) there shall be substituted :

" (III) where the goods have been imported by parcel post and have not been entered to Customs in the State, the portion of the wrapper of the parcel bearing the sender's Customs declaration and the address label or the parcel ;"

(iv) for subclause (C) of clause (II) of subparagraph (vi) of paragraph (b) there shall be substituted :

" (C) where the goods are imported by parcel post and have not been entered to Customs in the State, the portion of the wrapper of the parcel bearing the sender's Customs declaration and the address label of the parcel ;"

(v) after paragraph (c) there shall be inserted :

" (cc) where the value of the goods does not exceed £250. the person resident in the State furnishes to the authorised dealer through whose agency the payment is to be made, before the payment is made, the relative settlement invoice issued by the person to whom payment is to be made or the relative account sales, as appropriate, or other evidence of the value of the goods ;"

4. Article 19 of the Principal Regulations is hereby amended by the substitution in paragraph (a) of " £100 " for " £25 ".

5. Article 22 of the Principal Regulations is hereby amended by the substitution for paragraph (2) of :

" (2) There shall be exempted from the provisions of section 17 of the Act any consignment of goods not exceeding £500 in value provided that—

(a) the exporter has received payment for the goods in a manner appropriate in accordance with Article 20 of these Regulations or will so receive payment within six months after the date of exportation, and

(b) the exporter, if so required by the Revenue Commissioners, produces to them within one month after the date of such requirement—

(i) the evidence prescribed in Article 21 of these Regulations of receipt of payment for the goods, or

(ii) where the requirement is made within six months after the date of exportation and before the exporter has received payment for the goods a statement in writing signed by the exporter stating that, he has not received payment and indicating when he expects to receive payment.

6. The Second Schedule to the Principal Regulations is hereby amended by the addition thereto of :

" Ghana.

Malaya ".

7. The Third Schedule to the Principal Regulations is hereby amended by the addition thereto of :

" Austrian schillings ".

8. The Fourth Schedule to the Principal Regulations is hereby amended by the deletion in paragraph 1 and in paragraph 2 of " (except precious metals, precious stones and goods containing a precious metal or a precious stone) ".

9. The Fifth Schedule to the Principal Regulations is hereby amended as follows :

(i) after category 12 there shall be inserted :

" 12A. Any horse being exported temporarily. ",

(ii) in category 13 " £100 " shall be substituted for " £25 ".

GIVEN under my Official Seal, this 6th day of February, 1958.

SÉAMAS Ó RIAIN,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations 1955 by adding Austrian schillings to the list of specified currencies, which may be accepted in payment for exports and must be offered for sale to an authorised dealer ; by including Ghana and Malaya in the Scheduled Territories ; by increasing, from £25 to £100, the exempted amount of foreign 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 simplifying Exchange Control procedure relating to the purchase of goods originating outside the Scheduled Territories and the export of goods to destinations outside those territories.