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

STATUTORY RULES

1975 No. 223

REGULATION UNDER THE BANKING ACT 1959-1974.*

WHEREAS the Banking (Foreign Exchange) Regulations made under the Banking Act 1945-1953 were, by virtue of section 29 of the Banking (Transitional Provisions) Act 1959 and an instrument under that section published in the Gazette on 14 January 1960, continued in force notwithstanding the repeal made by the Banking Act 1959 and were amended as provided by that section:

AND WHEREAS those Regulations as so continued in force and amended were again continued in force by virtue of section 4 of the Banking Act 1974 notwithstanding the repeal of section 39 of the Banking Act 1959-1973 made by the Banking Act 1974;

AND WHEREAS by section 4 of the Banking Act 1974, those regulations as continued in force by that section may be amended or repealed by regulations under section 39 of the Banking Act 1959-1974:

AND WHEREAS, by section 39 of the Banking Act 1959-1974, it is provided that, where the Governor-General considers it expedient to do so for purposes related to––

(a) foreign exchange or the foreign exchange resources of Australia;

 

*Notified in the Australian Government Gazette on 23 December 1975.

(b) the protection of the currency or the protection of the public credit or revenue of Australia; or

(c) foreign investment in Australia, Australian investment outside Australia, foreign ownership or control of property in Australia or of Australian property outside Australia or Australian ownership or control of property outside Australia or of foreign property in Australia,

he may make regulations, not inconsistent with that Act, in accordance with that section:

AND WHEREAS, by section 16A of the Acts Interpretation Act 1901-1973, a reference in an Act to the Governor-General shall, unless the contrary intention appears, be deemed to include the person for the time being administering the Government of Australia; and shall, unless the contrary intention appears, be read as referring to the person so deemed to be included in the reference acting with the advice of the Executive Council:

AND WHEREAS I, the Administrator of the Government of Australia, acting with the advice of the Executive Council, consider it expedient, for purposes related to the matters specified in paragraphs 39 (1) (a), (b) and (c) of the Banking Act 1959-1974, to make the following Regulation:

NOW THEREFORE I, the Administrator, acting with the advice of the Executive Council, hereby make the following Regulation under the Banking Act 1959-1974.

Dated this twenty-third day of December, 1975.

A. R. CUTLER

Administrator.

By His Excellency’s Command,

Treasurer.

AMENDMENT OF THE BANKING (FOREIGN EXCHANGE) REGULATIONS*

Regulation 15 of the Banking (Foreign Exchange) Regulations is amended by omitting from sub-regulation (1) the definition of “the Minister” and substituting the following definition:––

“ ‘ the Minister’ means the Minister of State for Business and Consumer Affairs”.

 

* Statutory Rules 1946, No. 191, as amended by Statutory Rules 1947, Nos. 65 and 102; 1948, Nos. 39 and 165; 1950, No. 46; 1952, Nos. 15 and 80; 1953, No. 24; 1954, No. 96; 1960, No. 8; 1965, No. 168; 1967, No. 70; 1970, No. 130; 1973, Nos. 72 and 197; and 1974, Nos. 56, 97, 265.