S.I. No. 6/1980 - Exchange Control Regulations, 1980.

S.I. No. 6 of 1980.

EXCHANGE CONTROL REGULATIONS, 1980.

I, MICHEÁL Ó CINNÉIDE, 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 and Amendment) Act, 1978 (No. 24 of 1978), hereby make the following Regulations:

1. (1) These Regulations may be cited as the Exchange Control Regulations, 1980.

(2) The Exchange Control Regulations, 1959 to 1978, and these Regulations may be cited together as the Exchange Control Regulations, 1959 to 1980.

2. (1) The Hongkong and Shanghai Banking Corporation, 41 St. Stephen's Green, Dublin 2, is hereby appointed to be an authorised dealer.

(2) Paragraph 1 of this Article shall come into operation on the 17th day of January, 1980.

3. Article 2 of the Exchange Control Regulations, 1966 ( S.I. No. 11 of 1966 ), and Article 3 of the Exchange Control Regulations, 1967 ( S.I. No. 121 of 1967 ), are hereby revoked.

GIVEN under my Official Seal this 10th day of January, 1980.

MICHEÁL Ó CINNÉIDE,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations, 1959, by appointing the Hongkong and Shanghai Banking Corporation, 41 St. Stephen's Green, Dublin 2, to be an authorised dealer for the purpose of the Exchange Control Acts. These Regulations also revoke the Exchange Control Regulations which removed, in the case of Rhodesia, the general exchange control exemptions applicable to transactions with the non-Scheduled Territories. These Regulations have the effect, therefore, of placing transactions with Rhodesia or in Rhodesian currency in the same position, from an exchange control point of view, as transactions with non-EEC countries generally.