No. 24/1978:

EXCHANGE CONTROL (CONTINUANCE AND AMENDMENT) ACT, 1978

ARRANGEMENT OF SECTIONS

1 Principal Act.

2 Continuance of Principal Act.

3 Amendment of definition of "the scheduled territories" in Principal Act.

4 Amendment of section 15 of Principal Act.

5 Amendment of section 16 of Principal Act.

6 Amendment of sections 18 and 19 of Principal Act.

7 Short title, collective citation and construction.

AN ACT TO CONTINUE IN OPERATION AND TO AMEND AND EXTEND THE EXCHANGE CONTROL ACT, 1954 .

[28th November, 1978]

BE IT ENACTED BY THE OIREACHTAS AS FOLLOWS:

1.—In this Act "the Principal Act" means the Exchange Control Act, 1954 .

2.—The following subsection is hereby substituted for section 2 (2) of the Principal Act, as amended by section 1 of the Exchange Control (Continuance) Act, 1974 :

"(2) This Act shall continue in operation until the 31st day of December, 1982, and shall then expire.".

3.—(1) The Minister may, by regulations, amend the definition of "the scheduled territories" in section 3 of the Principal Act.

(2)—Every regulation under this section shall be laid before each House of the Oireachtas as soon as may be after it is made, and if a resolution annulling the regulation is passed by either such House within the next subsequent twenty-one days on which that House has sat after the regulation is laid before it, the regulation shall be annulled accordingly, but without prejudice to the validity of anything previously done thereunder.

4.—Section 15 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (2):

"(2) The importation from outside the scheduled territories, or from any particular place or places outside those territories, of—

( a ) such notes issued by any bank in, or which are or have been legal tender in, any part of the scheduled territories, and

( b ) such foreign currency,

as may be prescribed, is hereby prohibited except with the permission of the Minister.".

5.—(1) Section 16 of the Principal Act is hereby amended by the substitution of the following subsection for subsection (2):

"(2) The exportation of—

( a ) any notes issued by any bank in, or which are or have been legal tender in, any part of the scheduled territories,

( b ) any foreign currency or any document of a kind intended to enable the person to whom it is issued to obtain foreign currency from some other person on the credit of the person issuing it,

( c ) any policy of assurance, or

( d ) any postal order,

is hereby prohibited except with the permission of the Minister.".

(2) Subsection (1) of this section shall come into operation on, such day or days as, by order or orders made by the Minister, may be fixed therefor, either generally or with reference to any particular purpose or provision, and different days may be so fixed for different purposes and different provisions.

6.—Section 18 and 19 of the Principal Act are hereby amended by the substitution of "by or under any of the provisions of this Act" for "by any of he provisions of this Act" in each place where it occurs and subsection (1) of the said section 18 and subsections (1) (a) and (2) of the said section 19, as so amended in each case, are set out in the Table to this section.

TABLE

18.—(1) The Customs Acts shall, subject to such modifications, if any, as may be prescribed to adapt them to this Act, apply, in relation to any thing prohibited to be imported or exported by or under any of provisions of this Act except with the permission of the Minister, as they apply in relation to goods prohibited to be imported or exported by or under any of the said Acts, and any reference in the said Acts to goods shall be construed as including a reference to any thing prohibited to be imported or exported by or under any of the provisions of this Act except with the permission of the Minister.

19.—(1) ( a ) declare whether or not he has with him any thing prohibited to be imported or exported by or under any of the provisions of this Act except with the permission of the Minister, and

(2) The officer may examine or search any article which the traveller has with him for the purpose of ascertaining whether he is conveying or has in his possession any such thing and, if the officer has reasonable grounds for suspecting that the traveller has about his person any such thing, he may search the traveller, and the officer may seize any thing produced as aforesaid or found upon such examination or search as aforesaid as to which the officer has reasonable grounds for suspecting that it is prohibited to be imported or exported by or under any of the provisions of this Act except with the permission of the Minister, unless the traveller produces evidence showing that he is exporting or importing the thing in accordance with this Act.

7.—(1) This Act way be cited as the Exchange Control (Continuance and Amendment) Act, 1978 .

(2) The Exchange Acts, 1954 to 1974, and this Act may be cited together as the Exchange Control Acts, 1954 to 1978, and shall be construed together as one Act.

ACTS REFERRED TO