National Security (Exchange Control) Regulations (Amendment) (Cth)
STATUTORY RULES.
REGULATIONS UNDER THE NATIONAL SECURITY ACT 1939-1943.*
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 the
Dated this tenth day of December, 1943.
(SGD.) GOWRIE.
Governor-General.
By His Excellency’s Command,
for and on behalf of the Ministry of
State for Defence
Amendments of the National Security (Exchange Control) Regulations,
“1a.—(1.) These Regulations (other than Part IIa.) shall be administered by the Treasurer.
“(2.) Part IIa. of these Regulations shall be administered by the Minister of State for Trade and Customs.”.
“‘owner’, in relation to any foreign security—
(
a ) includes a person who owns the foreign security as a trustee or in any representative capacity; and
*
Notified in the
Statutory Rules 1940, No. 282, as amended by Statutory Rules 1941, Nos. 48, 96, 123 and 206.
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(
b ) includes, in a case where—(i) the foreign security is held on any trust; or
(ii) dividends or interest on a foreign security are paid into any trust fund,
any person entitled—
(iii) to enforce performance of the trust;
(iv) to revoke or vary, with or without the consent of any other person, the trust or any of the terms thereof; or
(v) to control the disposition (including investment) of the trust moneys,
and ‘owns’ and ‘owned’ have corresponding meanings;”.
“(3.) The Bank may authorize an agent of the Bank—
(
a ) to enter into any transaction prohibited by sub-regulation (1.) of this regulation, or into any transaction included in a class of such transactions, and it shall be lawful for the transaction to be entered into accordingly; and(
b ) to be a party to any transaction prohibited by sub-regulation (2.) of this regulation, or to any transaction included in a class of such transactions, and it shall be lawful for the agent of the Bank to be a party to the transaction accordingly.”.
“10b.—(1.) If a person can, by doing or refraining from doing any act—
(
a ) cause a body corporate incorporated or carrying on business outside the sterling area to comply with any of the requirements specified in the next succeeding sub-regulation;(
b ) remove any obstacle to any such body corporate complying with any of those requirements; or(
c ) render it in any respect more probable that any such body corporate will comply with any of those requirements,
that person shall, unless the Bank otherwise determines, do that act, or refrain from doing that act, as the case may be.
“(2.) The requirements referred to in the last preceding sub-regulation are as follows:—
(
a ) The body corporate shall not—(i ) except with the authority of the Bank; or
(ii) unless the Bank is satisfied that the transaction is in the ordinary course of the business of the body corporate (not being a business consisting wholly or mainly in the holding of, or dealing in, securities),
sell, mortgage, charge, dispose of or otherwise deal with any of its assets.
(
b ) The body corporate shall declare a dividend.(
c ) The body corporate shall notify the Treasurer, or such other person as the Treasurer specifies, of any interest it has in any foreign currency or foreign securities.(
d ) The body corporate shall, if it has power to sell, or procure the sale of, any such foreign currency, or foreign securities, sell, or procure the sale of, the foreign currency or foreign securities to a person nominated in that behalf by the Treasurer, in such manner, for such consideration, and subject to such terms and conditions (if any) as the Treasurer determines.”.
(
a ) by omitting sub-regulation (1.) and inserting in its stead the following sub-regulation:—“(1.) Subject to this regulation, every person who has any gold (not being gold coins the total value of the gold content of which does not exceed Twenty-five pounds) in his possession or under-his control shall deliver the gold to the Bank or an agent of the Bank within one month after the commencement of this sub-regulation or within one month after the gold comes into his possession or under his control, whichever is the later.”;
(
b ) by omitting sub-regulations (3.) and (4.) and inserting in their stead the following sub-regulations:—“(3.) All gold delivered to the Bank or to an agent of the Bank in pursuance of this regulation shall thereupon vest in the Bank absolutely, free from any mortgage, charge, lien, trust or other interest in or affecting the gold, and the Bank shall pay for the gold, to the person delivering the gold, on behalf of all persons having any interest therein, an amount determined in accordance with the next succeeding regulation and the Bank shall not be under any liability to pay or account to any other person claiming interest in the gold.
“(4.) The amount to be paid for any gold delivered to the Bank or an agent of the Bank in pursuance of this regulation shall be an amount determined in accordance with such price as is fixed by the Bank and published in such manner as the Treasurer approves or, at the option of the person delivering the gold, such amount as is determined in an action for compensation against the Bank.”; and
(
c ) by omitting paragraph (a ) of sub-regulation (10.).
“Part IIa.—Control of Proceeds of Exports.
“16a. This Part shall not apply in any Territory of the Commonwealth not forming part of the Commonwealth.
“16b.—(1.) In this Part, unless the contrary intention appears—
‘export licensing officer’ means the Comptroller, a Collector or any officer authorized by the Comptroller or a Collector to act as an export licensing officer for the purposes of this Part;
‘export value’, in relation to any goods, means the value of the goods at the time of export in the place to which they are to be exported;
‘licence’ means a licence under this Part;
‘licensee’ means a person to whom a licence is granted;
‘shipping documents’ means documents relating to the delivery and receipt for carriage of goods, and includes bill of lading, shipping receipt, consignment note and way-bill;
‘the Schedule’ means the Schedule to these Regulations.
“(2.) Expressions used in
this Part shall, unless the contrary intention appears, have the same
respective meanings as in the
“16c.—(1.) This Part shall apply with respect to the exportation of any goods notwithstanding that a licence or other authority for the exportation of the goods is in force under any other law.
“(2.) The grant of a licence with respect to any goods, or the exception of any goods from the application of this Part, shall not absolve any person from the obligation to comply with any other law relating to the exportation of goods.
“16d.—(1.) A licence may be—
(
a ) an ordinary licence; or(
b ) a special licence.
“(2.) An ordinary licence shall be a licence to export, during a period extending from the date of the grant of the licence to a date specified therein, the particular goods in one consignment, in the quantities, in the ship or aircraft, and from the port or aerodrome, specified in the licence.
“(3.) A special licence shall be a licence to export, during a period extending from the date of the grant of the licence to a date specified therein, goods of a class or kind, from a port and to a country, specified in the licence.
“16e.—(1.) Any person desiring to export goods not excepted from the application of this Part, shall make application for a licence to export the goods.
“(2.) An application for an ordinary licence shall be in accordance with Form A in the Schedule.
“(3.) An application for a special licence shall be in accordance with Form B in the Schedule.
“16f. An application for a licence shall be delivered to an export licensing officer together with such additional copies thereof as the export licensing officer requires.
“16g. An applicant for a licence shall supply to an export licensing officer such information additional to that required in accordance with the relevant form in the Schedule as the export licensing officer requires.
“16h.—(1.) The Minister may grant a licence in respect of all the goods specified in an application or in respect of portion only of those goods or may refuse to grant a licence.
“(2.) The Minister may revoke any licence.
“16j.—(1.) Subject to this Part, a licence shall be subject to the following terms and conditions:—
(
a ) Any payment in respect of the goods shall be made in such foreign currency and in such manner as the Bank approves, and the licensee shall make such arrangements as are necessary to ensure that the provisions of this paragraph are complied with.(
b ) Forthwith on obtaining any shipping documents in respect of any of the goods to which the licence relates, the licensee shall deliver the shipping documents to the Bank or to an agent of the Bank.(
c ) Shipping documents delivered in respect of any of the goods in accordance with paragraph (b ) of this sub-regulation shall be accompanied by the original invoice in respect of the goods, or a copy thereof, together with all bills of exchange drawn upon any person outside Australia from whom any payment in respect of the goods is to be received.(
d ) Where the bills of exchange so delivered represent only a portion of the amount payable in respect of the goods, there shall be delivered with the shipping documents—(i) an authority in writing to the Bank or to an agent of the Bank to deliver the shipping documents to a person specified in the authority and in accordance with such terms and conditions as are approved by the Bank and specified in the authority; and
(ii) a direction to each person outside Australia from whom any payment in respect of the goods is to be received to pay to the Bank or to an agent of the Bank, or to some other person nominated in that behalf by the Bank or by an agent of the Bank, all further payments in respect of the goods, and at the time of payment to furnish therewith a statement of account in respect of the goods.
(
e ) Where shipping documents delivered in accordance with paragraph (b ) of this sub-regulation are not accompanied by a bill of exchange in respect of the goods to which the shipping documents relate and payment for the goods is to be received, the licensee shall deliver with the documents—(i) an authority in writing to the Bank or to an agent of the Bank to deliver the shipping documents to a person specified in the authority and in
accordance with, such terms and conditions as are approved by the Bank and specified in the authority; and
(ii) a direction to each person outside Australia from whom any payment in respect of the goods is to be received to pay to the Bank or to an agent of the Bank, or to some other person nominated in that behalf by the Bank or by an agent of the Bank, all payments in respect of the goods, and at the time of payment to furnish therewith a statement of account in respect of the goods.
“(2.) A licence may be subject—
(
a ) in addition to the terms and conditions specified in the last preceding sub-regulation, to such further terms and conditions (if any) as the Minister determines; or(
b ) to such terms and conditions other than those so specified as the Minister determines,
or may be free from terms and conditions.
“(3.) The Minister may vary or modify the terms and conditions of any licence and may direct that a licence granted free from terms and conditions shall be subject to such terms and conditions as he determines.
“(4.) A licensee shall comply with all the terms and conditions to which the licence is subject.
“16k.—(1.) In all shipping documents in respect of goods to which a licence relates, provision shall be made for delivery of the goods to, or to the order of, the Bank or an agent of the Bank, or in such other manner as the Minister allows.
“(2.) In such cases as the Bank determines, a shipping document may be endorsed to, and delivered to, the licensee or to a person nominated by him.
“16l. Where the amount specified in any application for a licence as the invoice value of any goods is less than the amount which, in the opinion of the Minister, represents the export value of those goods and a licence has been granted on the application, the bank or an agent of the Bank may retain possession of the shipping documents unless and until the licensee has paid to the Bank, or to an agent of the Bank, or has made arrangements for the Bank, or for an agent of the Bank, to receive, an amount of foreign currency equivalent to the amount which, in the opinion of the Minister, represents the export value of the goods.
“16m. A person who, for any of the purposes of this Part, has made any arrangements in relation to foreign currency—
(
a ) shall take all reasonable steps to ensure that the arrangements are fulfilled; and(
b ) shall not, except with the consent in writing of the Bank cancel or alter the arrangements.
“16n. Where foreign currency has not been received by the Bank, or by an agent of the bank, in respect of any goods exported in pursuance of a licence, within six months after the date of exportation,
the Minister may require the licensee forthwith to sell the goods in a manner directed by the Bank and to account to the Bank or to an agent of the Bank for an amount of foreign currency equivalent to the net proceeds of the sale and the licensee shall, if he is still the owner of the goods, comply with the requirement.
“16p. On receipt in Australia by the Bank, or by an agent of the Bank, of advice that any foreign currency has been paid to the Bank, or to an agent of the Bank, in respect of any goods exported in pursuance of a licence, the Bank, or agent of the Bank, shall forthwith pay to the licensee, or to such other person as is entitled to receive it, an amount equal to the value of that foreign currency converted into Australian currency at the rate of exchange fixed or authorized by the Bank and in force for the time being.
“16q. no claim, action or proceedings shall be made or brought by any person against the Bank or an agent of the Bank, or against any officer of the Bank or of an agent of the Bank, in respect of any loss or damage arising out of any dealing with any document delivered to the Bank or to an agent of the Bank under this Part.
“16r.—(1.) An export licensing officer shall have and may exercise, subject to any directions of the Minister, all the powers and functions of the Minister under this Part, except the powers and functions of the Minister under regulations 16l, 16n and 16s.
“(2.) An appeal shall lie to the Minister from any decision or determination of an export licensing officer under this Part.
“(3.) The decision of the Minister on the appeal shall be final.
“(4.) Nothing in this regulation shall prevent the exercise of any power or function by the Minister.
“16s.—(1.) The Minister may except from the application of this Part any goods or the goods included in any class of goods.
“(2.) Without prejudice to the generality of the last preceding sub-regulation, the exception of any goods from the application of this Part may be limited to—
(
a ) any goods intended solely for use or consumption in any place specified by the Minister; or(
b ) any goods to be exported in a manner, or at or within a time, so specified.
“(3.) The Minister may vary or revoke any exception made in pursuance of this regulation.
“16t.—(1.) Before any licence is granted, the applicant for the licence shall, if required so to do by an export licensing officer, give security for compliance with the requirements of this Part and with the terms and conditions of the licence.
“(2.) Unless in any case some other security is accepted as sufficient by the export licensing officer, any security required to be given under this regulation shall be by bond in accordance with Form C in the Schedule, executed by the applicant and by one or more sureties approved by the export licensing officer, and conditioned for the compliance by the licensee and all other persons bound thereby with the requirements of this Part and the terms and conditions of the licence.
“(3.) Any bond or other security given in respect of a licence shall, unless the export licensing officer otherwise determines, be for a sum equal to twice the estimated value of the goods to which the licence relates, at the time and place of export.”.
(
a ) by omitting sub-regulation (11.) and inserting in its stead the following sub-regulation:—“(11.) Where, in accordance with the requirements of any order under this regulation, any person sells any security or his interest therein and then pays the net proceeds of the sale to the credit of an account specified in the order, the Treasurer shall, on receipt of advice of the payment and on compliance by that person with all the requirements of the order, pay to that person, or as he directs, an amount equal to the value of the net proceeds converted into Australian money at the current rate of exchange on the date on which the net proceeds are paid to the credit of the account, but, in case of dispute, the amount to be paid to that person shall be determined by an action for compensation by him against the Commonwealth.”; and
(
b ) by omitting sub-regulation (13.).
(
a ) by omitting the word “Treasurer” (wherever occurring) and inserting in its stead the word “Minister”; and(
b ) by adding at the end thereof the following sub-regulation:—“(4.) In this regulation, ‘the Minister’ means the Treasurer or the Minister of State for Trade and Customs.”.
“28. A person shall not make—
(
a ) to the Treasurer or to the Minister of State for Trade and Customs;(
b ) to any Commonwealth officer;(
c ) to any officer of the Bank or of an agent of the Bank; or(
d ) to any person to whom application is made for the issue of a money order payable outside Australia,
any statement, whether oral or in writing, relating to any act, transaction, matter or thing to which any provision of these Regulations applies, which he knows to be untrue, or which is misleading, in any particular, or which is made by him without his having first made proper inquiries to ascertain the truth thereof.”.
“29. A person shall not enter into or make any contract or arrangement, whether oral or in writing, for the purpose of, or which has the effect of, in any way, and whether directly or indirectly, defeating, evading or avoiding, or preventing the operation of, these Regulations in any respect.
“30.—(1.) The Bank may appoint any person to be an agent of the Bank in respect of all or any of the provisions 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 Bank.
“(3.) The Bank may revoke the appointment of any agent of the Bank under this regulation.
“(4.) Evidence of the
appointment, or of the revocation of the appointment, of an agent of the Bank
under this regulation may be given by the production of the
“THE SCHEDULE.
——
Regulation 16e. Form A.
Commonwealth of Australia.
APPLICATION FOR AN ORDINARY LICENCE TO EXPORT GOODS.
To the Collector of Customs at
Full name of applicant
Address
Name of owner of goods at time of exportation
Bank in Australia to which shipping documents are to be delivered or, in case of goods to be exported by aircraft, to which foreign currency representing proceeds of goods will be paid or credited—
Name Place
Name of ship or aircraft by which goods are to be exported
Port or aerodrome of discharge
Ultimate destination of goods
Name and address of person to whom goods are to be exported
State terms of sale or circumstances under which goods are being exported—
State whether goods are under export restriction—
The above-named applicant hereby applies for an ordinary licence to export
from the goods described below.
Marks and Nos. of packages. | No. and description of packages. | Description of goods. | Quantities. | Invoice value (In Australian currency).* |
I hereby declare that I am the applicant/ duly authorized agent of the applicant and that the particulars shown in this application are true and correct in every particular.
Signature of applicant or agent of applicant.
Date of application.
* State whether f.o.b., c.i.f., or otherwise.
Strike out whichever is inapplicable.
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Regulation 16e. Form B.
Commonwealth of Australia.
APPLICATION FOR A SPECIAL LICENCE TO EXPORT GOODS.
To the Collector of Customs at
Full name of applicant
Occupation
Address
Bank to which shipping documents are to be delivered—
Name, Place
The above-named applicant hereby applies for a special licence to export from the following classes or kinds of goods:—
to the following countries:—
I hereby declare that I am the *applicant/*duly authorized agent of the applicant and that the particulars shown in this application are true and correct in every particular.
Signature of applicant or agent of applicant.
Date of application.
* Strike out whichever is in applicable.
Regulation 16t. Form C.
Commonwealth of Australia.
BOND.
Know all men by these presents that
we [
Sealed with our seals and dated this day of , 19 . Whereas the above-bounden licensee has made an application dated the day of , 19 , for a licence to export goods under the National Security (Exchange Control) Regulations.
Now the condition of the above-written bond or obligation is that if the licensee and all other persons bound thereby shall punctually and faithfully observe and comply with the terms and conditions of the licence and with all the requirements of the National Security (Exchange Control) Regulations, relating to the licence, then this bond shall be void and of no effect, but otherwise the same shall remain in full force and effect:
Provided always that no extension of time or other indulgence granted to the licensee for compliance with any conditions of the licence or with any requirements of the said Regulations, and no neglect or forbearance to enforce such compliance, shall in any way release any person hereby bound, his executors or administrators, from his or their liability hereunder, and no waiver of any one or more of the said conditions or requirements shall affect the liability of the licensee or any other person hereby bound, his or their respective executors or administrators, from his or their liability hereunder.
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By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra.
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