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

Statutory Rules

1974 No. 97

REGULATION UNDER THE BANKING ACT 1959-1973.*

WHEREAS by instrument under sub-section 29 (1) of the Banking (Transitional Provisions) Act 1959 published in the Gazette on 14 January 1960, the Governor-General declared that, notwithstanding the repeal effected by section 4 of the Banking Act 1959, the Banking (Foreign Exchange) Regulations in force under the Banking Act 1945-1953 immediately before the commencement of Part VII of the Banking (Transitional Provisions) Act 1959 should continue in force as if they were made under the Banking Act 1959:

AND WHEREAS by virtue of paragraph 29 (1) (a) of the Banking (Transitional Provisions) Act 1959-1973, those Regulations may be amended or repealed by regulations under the Banking Act 1959-1973:

AND WHEREAS by section 39 of the Banking Act 1959-1973, 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 or 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, the Governor-General of Australia, acting with the advice of the Executive Council, 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 Regulation:

NOW THEREFORE I, the Governor-General, acting with the advice of the Executive Council, hereby make the following Regulation under the Banking Act 1959-1973.

Dated this sixteenth day of May, 1974.

PAUL HASLUCK

Governor-General.

By His Excellency’s Command,

FRANK CREAN

Treasurer.

 

* Notified in the Australian Government Gazette on 28 May 1974.

 

Amendment of the Banking (Foreign Exchange) Regulations*

Control of money orders.

Regulation 7 of the Banking (Foreign Exchange) Regulations is amended by omitting from sub-regulation (4) the words “Fifty dollars” and substituting the figures “$100”.

 

* 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, No. 56.