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S.I. No. 14/1978 - Exchange Control Regulations, 1978.

S.I. No. 14 of 1978.

EXCHANGE CONTROL REGULATIONS, 1978.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by section 27 of the Exchange Control Act, 1954 (No. 30 of 1954), as continued by the Exchange Control (Continuance) Act, 1974 (No. 26 of 1974), hereby make the following regulations:

1. (1) These Regulations may be cited as the Exchange Control Regulations, 1978.

(2) These Regulations shall come into operation on the 18th day of January, 1978.

(3) The Exchange Control Regulations, 1959 to 1977, and these Regulations may be cited together as the Exchange Control Regulations, 1959 to 1978.

2. Article 19 (a) of the Exchange Control Regulations, 1959 ( S.I. No. 44 of 1959 ), is hereby amended by the substitution for "£25" [inserted by the Exchange Control Regulations, 1965 ( S.I. No. 66 of 1965 )] of "£100", and for "£300"[ inserted by the Exchange Control Regulations, 1975 ( S.I. No. 188 of 1975 )] of " £500 ", and the said Article 19 (a), as so amended, is set out in the Table to this Article.

TABLE.

19. There shall be exempted from the provisions of sub-section (2) of section 16 of the Act—

( a ) the exportation on the person or in the baggage of a traveller leaving the State of notes to which paragraph (a) of that subsection applies not exceeding £100 in total and, in addition thereto, of foreign currency notes not exceeding £500 in total value, provided that the traveller is not employed or engaged in any capacity on board the ship or aircraft in which he is departing from the State;

(this paragraph shall not apply where the traveller is travelling to Southern Rhodesia).

GIVEN under my Official Seal this 18th day of January, 1978.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations, 1959, by increasing from £300 to £500 the exempted amount of foreign currency notes, and from £25 to £100 the exempted amount of Irish pounds or sterling notes which may be exported by travellers to destinations outside Northern Ireland, Great Britain, the Channel Islands and the Isle of Man.