Banking (Foreign Exchange) Regulations (Amendment) (Cth)

STATUTORY RULES.

1952. No. .

 

REGULATIONS UNDER SECTION 29 OF THE BANKING ACT 1945.*

WHEREAS by section 29 of the Banking Act 1945 it is provided that, where the Governor-General is satisfied that it is expedient so to do, for the protection of the currency or of the public credit of the Commonwealth, or in order to conserve, in the national interest, the foreign exchange resources of the Commonwealth, he may make regulations, not inconsistent with that Act, making provision for and in relation to the control of foreign exchange and, in particular, but without limiting the generality of the foregoing, for or in relation to certain matters specified in that section:

And whereas I am satisfied that it is expedient, for the protection of the currency and of the public credit of the Commonwealth, and in order to conserve, in the national interest, the foreign exchange resources of the Commonwealth, to make the following Regulations:

Now therefore I, the Governor-General in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under section 29 of the Banking Act 1945.

Dated this twenty-ninth day of February, 1952.

W. J. McKELL

Governor-General.

By His Excellency’s Command,

for and on behalf of the Treasurer.

 

Amendments of the Banking (Foreign Exchange) Regulations.

Definitions.

1. Regulation 4 of the Banking (Foreign Exchange) Regulations is amended by omitting from the definition of “ sterling area ” the words “ and the Hashemite Kingdom of the Jordan ” and inserting in their stead the words “, the Hashemite Kingdom of the Jordan and Libya ”.

Acquisition of foreign currency.

2. Regulation 13 of the Banking (Foreign Exchange) Regulations is amended by inserting in sub-regulation (3.), after the word “fixed”, the words “or authorized”.

 

* Notified in the Commonwealth Gazette on , 1952.

  Statutory Rules 1946, No, 101, as amended by Statutory Rules 1947, Nos. 65 and 102; 1948, Nos. 39 and 165; and 1950, No. 46.

 

By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.

4429.—Price 3d. 9/17.1.1952.