Defence Force (Monetary Control) Regulations (Cth)

STATUTORY RULES

1939. No. 77.

 

REGULATIONS RELATING TO THE CONTROL OF FINANCIAL TRANSACTIONS AND THE DISPOSAL OF GOLD.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, in pursuance of the powers conferred by the Defence Act 1903-1939 and all other powers me thereunto enabling, hereby make the following Regulations.

Dated this twenty-fifth day of August, 1939.

GOWRIE

Governor-General.

By His Excellency’s Command,

PERCY C. SPENDER

for Minister of State for Defence.

 

Defence (Monetary Control) Regulations.

Short title.

1. These Regulations may be cited as the Defence (Monetary Control) Regulations.

Definitions.

2. In these Regulations, unless the contrary intention appears––

“agent of the Bank ” means a person appointed by the Board to be an agent of the Bank for the purposes of these Regulations ;

“Australian currency” includes the currency of any Territory of the Commonwealth;

“current rate of exchange ” means the rate of exchange fixed by the Board;

“foreign currency” means currency other than Australian currency and includes bills of exchange or promissory note payable otherwise than in Australian currency;

“money” includes foreign currency;

“security” includes share, stock, bond, debenture, debenture stock and Treasury bill, but does not include bill of exchange or promissory note;

“the Bank” means the Commonwealth Bank of Australia established by the Commonwealth Bank Act 1911-1932;

“the Board” means the Board of Directors appointed in pursuance of the Commonwealth Bank Act 1911-1932.

 

* Notified in the Commonwealth Gazette on 28th August, 1939.

4482.—Price 5d.

 

Transfer of money out of Australia.

3.—(1.) Subject to this regulation and subject to any exemptions granted by the Treasurer by order, a person shall not, except through the Bank or an agent of the Bank and except in accordance with such conditions as the Board determines, take or send money to any place outside Australia.

(2.) A person shall not be a party to any transaction with respect to the taking or sending of money to any place outside Australia which provides for the conversion of Australian currency at a rate of exchange other than the current rate of exchange between Australia and that place.

(3.) For the purposes of this regulation, money shall be deemed to be taken or sent if it is taken or sent by telegraph or post or by means of draft, letter of credit, travellers’ cheque or transfer of account or any other means whatsoever.

(4.) Subject to this regulation and subject to any exemptions granted by the Treasurer by order, a person shall not, except with permission granted by or on behalf of the Treasurer—

(a) draw or negotiate any bill of exchange or promissory note, transfer any security or acknowledge any debt, so that a right (whether actual or contingent) to receive a payment in Australia is created or transferred as consideration—

(i) for receiving payment, or acquiring property, outside Australia; or

(ii) for a right (whether actual or contingent) to receive a payment or acquire property, outside Australia; or

(b) make any payment as such consideration.

(5.) Nothing in the foregoing provisions of this regulation shall—

(a) apply to the taking or sending of money by means of money orders; or

(b) restrict the doing of anything which is certified by or on behalf of the Treasurer to be necessary for the purpose—

(i) of meeting the reasonable requirements of a trade or business carried on in Australia;

(ii) of performing a contract made before the twenty-fifth day of August, One thousand nine hundred and thirty-nine; or

(iii) of defraying reasonable travelling or other personal expenses.

(6.) The taking or sending of money by means of money orders shall be subject to such conditions as the Treasurer determines.

Declaration by travellers.

4.—(1.) Any person who is about to leave Australia (in this regulation referred to as ‘‘the traveller”) shall if requested so to do by an officer—

(a) declare whether or not he has with him any money; and

(b) produce any money which he has with him.

 

(2.) The officer and any person acting under his directions may search the traveller and examine or search any article which the traveller has with him, for the purpose of ascertaining whether he has with him any money, and may seize any money produced or found upon such examination or search unless the officer is satisfied that the traveller has not the money with him in contravention of these Regulations:

Provided that no female shall be searched in pursuance of this sub-regulation except by a female.

(3.) With respect to any goods consigned from Australia to a place outside Australia, an officer and any person acting under his directions may examine or search the goods for the purpose of ascertaining whether any money is being sent therewith, and may seize any money found upon such examination or search which in the opinion of the officer, is being sent in contravention of these Regulations.

(4.) For the purposes of this regulation, the term “officer ” means officer of Customs, immigration officer or constable and includes any person thereto authorized by the Treasurer.

Acquisition by Treasurer of certain foreign currency

5. —(1.) Subject to any exemptions granted by the Treasurer by order, a person resident in Australia who has power to sell, or to procure the sale of, any foreign currency, shall, unless the Treasurer or a person thereto authorized by the Treasurer gives him notice to the contrary, sell it, or cause it to be sold, to the Treasurer, or to a person thereto authorized by the Treasurer, at such price as is mutually agreed, or in default of agreement, as is determined by an action for compensation by the person first-mentioned against the Commonwealth.

(2.) Subject to any exemptions granted by the Treasurer by order, a person resident in Australia, who has power to assign, or to procure the assignment of, any right to receive outside Australia, in respect of any credit or balance at a bank, payment of any amount in a foreign currency, shall, unless the Treasurer or a person thereto authorized by the Treasurer gives him notice to the contrary, do all things neecssary for the purpose of assigning that right to the Treasurer nr a person thereto authorized by the Treasurer.

(3.) When an assignment is made in accordance with sub-regulation (2.) of this regulation, such consideration shall be payable for the assignment as is mutually agreed or, in default of agreement, as is determined by action by the person first-mentioned in that sub regulation against the Commonwealth.

(4.) An action for compensation under this regulation may be instituted in the High Court or in the Supreme Court of a State or Territory of the Commonwealth, and, subject to the following provisions, the action shall be heard and determined in the same manner as ordinary actions:—

(a) the action shall be tried without a jury;

(b) the Court shall not direct a reference to arbitration unless by consent of parties; and

(c) the costs shall be in the discretion of the Court.

Agents at Bank.

6. —(1.) The Board may appoint any person to be the agent of the Bank for the purposes of these Regulations.

 

(2.) Any person appointed to be an agent of the Bank shall carry out his duties as agent in accordance with, and shall comply with, such instructions, directions and requirements as are issued or made by the Board.

(3.) The Board may revoke the appointment of any agent of the Bank under these Regulations if the agent fails to comply with any provision of these Regulations.

Delivery of gold to Bank.

7. —(1.) Subject to this regulation and subject to any exemptions granted by the Treasurer by order, any person who has any gold in his possession or control shall deliver the gold to the Bank or an agent of the Bank—

(a) if the gold is in his possession or control at the commencement of these Regulations—within one month after such commencement; or

(b) if the gold has come into his possession or control after the commencement of these Regulations—within one month after it has come into his possession or control.

(2.) If any person fails to comply with the requirements of sub regulation (1.) of this regulation, the gold in respect of which the failure occurs shall be forfeited to the Crown.

(3.) Any person thereto authorized by the Treasurer in writing may seize any gold which is forfeited or which he has reasonable cause to suspect is forfeited under these Regulations, and for that purpose may without warrant enter, if need be by force, and search any place or premises.

(4.) All gold delivered to the Bank or an agent of the Bank in accordance with this regulation shall vest in the Bank absolutely and all the right, title and interest of the person delivering the gold shall be taken to have been converted into a right to receive payment for the gold at such price as is fixed by the Board and published in such manner as the Treasurer approves.

(5.) The price of gold fixed by the Board shall be based on the price of gold in London at the time when the price is fixed.

(6.) Unless and until the Treasurer otherwise directs by notice published in the Gazette, this regulation shall not apply to gold coins (the total value of which does not exceed Twenty-five pounds), or to wrought gold, or to gold in the possession of any person for the purpose of being worked or manufactured for professional or trade purposes:

Provided that any person who is in possession of any such gold coins or gold shall, if required by the Board, furnish to the Bank particulars (including the value) thereof.

Bank to obtain information.

8. —(1.) The Board may by notice in writing require any person, including any officer employed in or in connexion with any department of a Government, or by any public authority—

(a) to furnish the Board with such information with respect to the taking or sending of money outside Australia or the possession of foreign currency or gold, by himself or any other person, as it requires; and

 

(b) to attend and give evidence before the Board or an officer of the Bank thereto authorized by the Board concerning his or any other person’s taking or sending of money outside Australia or the possession of foreign currency or gold by himself or any other person, and may require him to produce all books, documents and other papers whatever in his custody or under his control relating thereto.

(2.) The Board may require the information or evidence to be given on oath or affirmation and either verbally or in writing, and for that purpose the Board or an officer so authorized may administer an oath.

Relegation.

9. —(i.) The Treasurer may, by writing under his hand, delegate any of his powers and functions under these Regulations in relation to any matters or class of matters, so that the delegated powers and functions may be exercised by the delegate with respect to the matters or class of matters specified in the instrument of delegation.

(2.) Every delegation by the Treasurer shall be revocable in writing at will, and no delegation shall prevent the exercise of any power or function by the Treasurer.

Trial of offences.

10. —(1.) Any person who contravenes, or fails to comply with any provision of, or requirement made in pursuance of, these Regulations shall be guilty of an offence against these Regulations.

(2.) An offence against these Regulations may be presented either summarily or upon indictment, but an offender shall not be liable to be punished more than once in respect of the same offence.

(3.) The punishment for an offence against these Regulations shall be—

If the offence is prosecuted summarily—a fine not exceeding One hundred pounds or, where the offence is a continuing offence, not exceeding One hundred pounds for each day during which the offence continues, or imprisonment for a term not exceeding six months; or

If the offence is prosecuted upon indictment—a fine of any amount or imprisonment for any term or both.

(4.) For the purpose of the trial of a person summarily or upon indictment for an offence against these Regulations, the offence shall be deemed to have been committed either at the place in which it was actually committed or (subject to the Constitution) at any place in which the person may be.

 

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