{"id":"F2006B11736","name":"Banking (Foreign Exchange) Regulations 1959 - Exemption (subregulation 34(1)) (21/06/1984)","slug":"banking-foreign-exchange-regulations-1959-exemption-subregulation-34-1-21-06-1984","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":57788,"registerId":"commonwealth-F2006B11736-current","compilationNumber":null,"startDate":"2026-04-02","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Banking (Foreign Exchange) Regulations 1959 - Exemption (subregulation 34(1)) (21/06/1984)","content":"BANKING (FOREIGN EXCHANGE) REGULATIONS  \nEXEMPTION\n\nReserve Bank of Australia in pursuance of regulation 38 of the Banking (Foreign Exchange) Regulations hereby –\n\n1. revokes the exemption dated 30 August 1973 relating to sub-regulation 34(1) of the Regulations;\n\n2. exempts from the application of sub-regulation 34(1) of the Regulations –\n\n(a) any person who, either on his own behalf or on behalf of another person, buys, borrows, sells, lends or exchanges foreign securities that are in Australia or who deals otherwise with such securities that are in Australia; and\n\n(b) any resident, or any person acting on behalf of a resident, who buys, borrows, sells, lends or exchanges foreign securities that are outside Australia or who deals otherwise with such securities that are outside Australia.\n\nThis instrument shall come into operation on 25 June 1984.\n\nDated at Sydney this 21st day of June 1984.\n\nFor and on behalf of the Reserve Bank of Australia.\n\nD. N. SANDERS  \nDeputy Governor","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":2069},"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the function authorised by regulation 38 of the parent Regulations—granting exemptions from foreign exchange controls. It replaces a 1973 exemption of similar scope without expanding beyond the intended purpose of permitting specified securities dealings."},"complexity_factors":["Short, single-purpose instrument containing only 2 operative provisions","No defined terms or interpretation section","Linear structure (revocation followed by new grant) with no nested conditions","Relies on understanding of external regulatory context (subregulation 34(1)) but does not require parsing cross-references within the instrument itself"],"plain_english_summary":"**What this does:** This exemption removes foreign exchange restrictions for people trading overseas investments (like foreign stocks or bonds).\n\n**Who it affects:**\n- **Anyone in Australia:** People or companies buying, selling, lending, or otherwise dealing with foreign securities that are physically located in Australia\n- **Australian residents abroad:** Australian residents (or people acting on their behalf) who deal with foreign securities located outside Australia\n\n**Why it matters:** Normally, these transactions required specific permission from the Reserve Bank under the Banking (Foreign Exchange) Regulations. This exemption allows them to happen automatically without individual approval, making it easier for Australians and businesses to invest internationally. It replaces an earlier exemption from 1973 and took effect on 25 June 1984."}},"importantCases":[],"_links":{"self":"/api/acts/banking-foreign-exchange-regulations-1959-exemption-subregulation-34-1-21-06-1984","history":"/api/acts/banking-foreign-exchange-regulations-1959-exemption-subregulation-34-1-21-06-1984/history","analysis":"/api/acts/banking-foreign-exchange-regulations-1959-exemption-subregulation-34-1-21-06-1984/analysis","conflicts":"/api/acts/banking-foreign-exchange-regulations-1959-exemption-subregulation-34-1-21-06-1984/conflicts","importantCases":"/api/acts/banking-foreign-exchange-regulations-1959-exemption-subregulation-34-1-21-06-1984/important-cases","documents":"/api/acts/banking-foreign-exchange-regulations-1959-exemption-subregulation-34-1-21-06-1984/documents"}}