STATUTORY RULES.
1948. No. 165.
REGULATION 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 Regulation:
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 Regulation under section 29 of the Banking Act 1945.
Dated this twenty-first day of December, 1948.
W. J. McKELL
Governor-General.
By His Excellency’s Command,
J. B. CHIFLEY
Treasurer.
Amendment of the Banking (Foreign Exchange) Regulations.†
Definitions.
Regulation 4 of the Banking (Foreign Exchange) Regulations is amended by omitting the definition of “ sterling area ” and inserting in its stead the following definition :—
“ ‘ sterling area ’ means all parts of His Majesty’s dominions (except Canada and Newfoundland), and includes all British mandated territories, all British protectorates and protected states, Eire, Iraq, Burma and Iceland ;”.
* Notified in the Commonwealth Gazette on 6th January, 1949.
† Statutory Rules 1946, No. 191, as amended by Statutory Rules 1947, Nos. 65 and 102; and 1948, No. 39.
By Authority: L. F. Johnston, Commonwealth Government Printer, Canberra
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