Banking (Foreign Exchange) Regulations 1959 Exemption (subregulation 34(1)) (21/06/1984) (Cth)

BANKING (FOREIGN EXCHANGE) REGULATIONS

EXEMPTION

Reserve Bank of Australia in pursuance of regulation 38 of the Banking (Foreign Exchange) Regulations hereby –

1.    revokes the exemption dated 30 August 1973 relating to sub-regulation 34(1) of the Regulations;

2.    exempts from the application of sub-regulation 34(1) of the Regulations –

(a)     any person who, either on his own behalf or on behalf of another person, buys, borrows, sells, lends or exchanges foreign securities that are in Australia or who deals otherwise with such securities that are in Australia;  and

(b)     any resident, or any person acting on behalf of a resident, who buys, borrows, sells, lends or exchanges foreign securities that are outside Australia or who deals otherwise with such securities that are outside Australia.

This instrument shall come into operation on 25 June 1984.

Dated at Sydney this 21^st day of June 1984.

For and on behalf of the Reserve Bank of Australia.

D. N. SANDERS

   Deputy Governor