1Banking (Foreign Exchange) Regulations 1959

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![](image.001.png) Banking (Foreign Exchange) Regulations 1959 Statutory Rules1946 No. 191 as amended made under the Banking Act 1959 This compilation was prepared on 31 March 2007 taking into account amendments up to SLI 2007 No. 71 Prepared by the Office of Legislative Drafting and Publishing, Attorney‑General’s Department, Canberra Contents Part I Preliminary 1 Name of Regulations \[see Note 1\] 4 Interpretation Part II Monetary control 5 Control of purchase 5A Offence against directions 6 Control of transfer of currency out of Australia 7 Control of money orders 8 Control of certain payments and transactions 9 Control of certain transfers etc of property 11 Special provisions for making certain payments 12 Blocked accounts Part III Control of proceeds of exports 14 Part not to apply in external Territories 15 Interpretation 16 Exportation of goods prohibited unless approved payment received 17 Foreign currency to be sold to bank in Australia 18 Fulfilment of arrangements 19 Exporters to give information 20 Bank may require further particulars 21 Provision where goods undervalued 22 Provisions of other laws not affected 23 Indemnity 24 Security Part IV Securities 33 Control of disposal of securities 34 Control of foreign securities 35 Returns of foreign securities Part V Miscellaneous 36 Declaration by travellers 38 Exemptions 38A General authorities 39 Authority of the Bank 39A Directions by Treasurer 40 False statements 41 Contracts to evade Regulations 42 Offences 43 Property obtained in contravention of Regulations 44 Agents of the Bank 45 Validation Notes Part I Preliminary 1 Name of Regulations \[see Note 1\] These Regulations are the Banking (Foreign Exchange) Regulations 1959. 4 Interpretation (1) In these Regulations, unless the contrary intention appears: > agent of the Bank, in relation to any provision of these Regulations, means a person appointed by the Bank to be an agent of the Bank in respect of that provision. > goods includes gold. > 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 (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. > the Bank means the Reserve Bank of Australia. (2) For the purposes of the definition of foreign securities in subsection 39 (8) of the Act, the following classes of securities or property are foreign securities: (a) securities the principal of or interest from which is repayable or payable in any country outside Australia or in any money other than Australian money; (b) securities the funds necessary for the repayment or payment of the principal of or interest from which are provided from any country outside Australia; (c) securities that are registered outside Australia; (d) securities that are situated outside Australia; (e) debts or moneys due or accruing due to a person in Australia by a person in a country outside Australia; (f) rights to receive payment of moneys in a country outside Australia; and (g) rights to receive payment of moneys of a country outside Australia. Part II Monetary control 5 Control of purchase (1) The Bank may, in writing, direct a person: (a) not to buy, borrow, sell, lend or exchange foreign currency in Australia (on the person’s own behalf or on behalf of another person); or (b) not to deal with foreign currency in any other way in Australia. (2) The Bank may, in writing, direct a resident, or a person acting on behalf of a resident: (a) not to buy, borrow, sell, lend or exchange foreign currency outside Australia; or (b) not to deal with foreign currency in any other way outside Australia. (3) The Bank may, in writing, direct a person not to be a party to a transaction if: (a) either: (i) the transaction takes place in whole or in part in Australia; or (ii) a resident is a party to the transaction; and (b) the transaction: (i) has the effect of, or involves, a purchase, borrowing, sale, loan or exchange of foreign currency; or (ii) otherwise relates to foreign currency. (4) The Bank must act under subregulations (1), (2) and (3) in accordance with any written directions given by the Treasurer under this subregulation. (4A) If the Bank gives a direction under subregulation (1), (2) or (3), the Bank must: (a) give a copy of the direction to the person to whom the direction relates; or (b) publish a copy of the direction in the Gazette. (5) Where any foreign currency is made available to any person in accordance with these Regulations for use for any purpose, or subject to any conditions, that person shall not use that foreign currency otherwise than for that purpose, or shall not fail to comply with those conditions, as the case may be. (6) Nothing in this regulation shall prevent a person from buying foreign currency by means of a money order issued to him at any post office, but this subregulation shall not affect the operation of regulation 7 of these Regulations. (7) For the purposes of this regulation: (a) where a body corporate that is not a resident has a place of business in Australia, the body corporate shall be deemed to be a resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business; and (b) where a body corporate that is a resident has a place of business outside Australia, the body corporate shall be deemed not to be a resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business. (8) In this regulation, person or resident does not include the Bank. 5A Offence against directions It is an offence for a person to engage in conduct in contravention of a direction under: (a) subregulation 5 (1); or (b) subregulation 5 (2); or (c) subregulation 5 (3). Penalty: (a) if the offence is prosecuted summarily — a fine not exceeding ten penalty units or imprisonment for a term not exceeding six months; or (b) if the offence is prosecuted upon indictment — a fine not exceeding one thousand penalty units or imprisonment for a period not exceeding five years. > Note See regulation 42 for other offences. 6 Control of transfer of currency out of Australia (1) A person shall not, except with the authority of the Bank, take or send out of Australia any Australian currency or foreign currency, other than foreign currency obtained under the last preceding regulation. (2) Nothing in this regulation shall apply to a money order issued in Australia and payable outside Australia. 7 Control of money orders (1) A person shall not take or send money out of Australia by means of a money order issued in Australia and payable out of Australia otherwise than in accordance with the provisions of this regulation. (2) Money shall not be so taken or sent out of Australia except: (a) to a person who is not a resident; (b) to the Government, or an authority or a fund established by the Government, of any country; or (c) to a Court. (3) Money shall not be so taken or sent out of Australia to a person who is not a resident: (a) except for the sole use and benefit of that person or of another person who is not a resident; or (b) in or towards payment for goods which, at the date on which the application for the money order is made, are not excepted from the application of the Customs (Import Licensing) Regulations. (4) The amount of money so taken or sent out of Australia by any one person to a person or persons in any one week shall not exceed in the aggregate $100. (5) An application for the issue of each money order payable out of Australia shall be made in accordance with a form approved by the Postmaster‑General. 8 Control of certain payments and transactions (1) Subject to this regulation, a person shall not, except with the authority of the Bank: (a) make any payment in Australia to, by the order of, or on behalf of, a person who is not a resident or place any sum in Australia to the credit of any such person; (c) draw, issue, or negotiate any bill of exchange or promissory note, enter into any contract or agreement (not being a contract or agreement for the purchase of goods), allot or transfer any security, or acknowledge any debt, so that a right (whether actual or contingent): (i) to receive a payment, or any valuable consideration; or (ii) to the performance of any service; whether in Australia or elsewhere, is created or transferred in favour of a person who is not a resident; or (d) make an entry in a register in Australia that recognizes that a person who is not a resident is the holder of securities. (2) Nothing in paragraph (a) of the last preceding subregulation shall prevent any payment by the Bank, or by an agent of the Bank, to any resident. (3) Subject to this regulation, a person shall not, except with the authority of the Bank: (a) make any payment to any resident as consideration for, or in association with: (i) the receipt by any person of a payment, or the acquisition by any person of any property, outside Australia; or (ii) the creation or transfer, in favour of any person, of a right (whether actual or contingent) to receive a payment or acquire property outside Australia; or (b) draw, issue, or negotiate any bill of exchange or promissory note, enter into any contract or agreement (not being a contract or agreement for the purchase of goods), allot or transfer any security, or acknowledge any debt, so that a right (whether actual or contingent) to receive a payment in Australia is created or transferred in favour of a resident as consideration for, or in association with, any matter referred to in subparagraph (i) or (ii) of the last preceding paragraph. (3A) A person shall not receive any payment prohibited by paragraph (a) of subregulation (1) of this regulation or by paragraph (a) of the last preceding subregulation. (4) For the purposes of this regulation: (a) where a body corporate that is not a resident has a place of business in Australia, the body corporate shall be deemed to be a resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business; (b) where a body corporate that is a resident has a place of business outside Australia, the body corporate shall be deemed not to be a resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business; (c) the making of any book‑entry or other statement recording a debit against the head office, or a branch, in Australia of a body corporate in favour of the head office, or a branch, of the body corporate out of Australia shall be deemed to be the acknowledgment of a debt whereby a right to receive a payment in Australia is created in favour of a person resident out of Australia; (d) security also includes a coupon or warrant representing dividends or interest, and a life or endowment insurance policy, but does not include bill of exchange or promissory note; and (e) transfer includes, in relation to any security, transfer by way of loan or security. (5) Nothing in this regulation shall prevent the doing of any act permitted under regulation 5, 6 or 7 of these Regulations. 9 Control of certain transfers etc of property (1) The sale, loan, transfer, mortgaging or charging of any security or land that is in Australia by, by the order of, or on behalf of, a person who is not a resident to another person who is not a resident, or to a person acting on behalf of such a person, shall, unless it is made with the authority of the Bank, be prohibited. (2) A person shall not, except with the authority of the Bank, whether as agent or attorney of any person who is not a resident or by the order of or on behalf of any such person, or otherwise, enter into any transaction prohibited by the last preceding subregulation. (5) For the purposes of this regulation: (b) security also includes a coupon or warrant representing dividends or interest, and a life or endowment insurance policy, but does not include bill of exchange or promissory note; and (c) transfer includes transfer by way of loan or security. 11 Special provisions for making certain payments (1) Subject to any directions of the Treasurer, the Bank may, by notice published in the Gazette, specify any country to be a country to which this regulation applies. (2) Any person who is liable to make any payment to a person resident in a country to which this regulation applies shall, instead of making payment to that last‑mentioned person, make the payment to the Bank, or to an agent of the Bank for payment to the Bank. (3) Where a payment is so made, the receipt of the Bank, or of the agent of the Bank, for the amount paid shall be a good discharge, to the extent of the amount paid, to the person making the payment. (4) Where the liability to make the payment is a liability to make the payment in some money other than Australian money, the amount of the liability in Australian money, and the extent of the discharge, shall be ascertained by converting the amount into Australian money at a rate of exchange fixed by the Bank. (5) The amounts paid to the Bank and to the agents of the Bank under this regulation shall be applied in such manner as the Bank directs. 12 Blocked accounts (1) In this regulation: > blocked account means: (a) an account opened, whether before or after the commencement of this regulation, as a blocked account with the Bank or an agent of the Bank; and (b) an existing account with the Bank or an agent of the Bank declared, whether before or after the commencement of this regulation, by the Bank to be a blocked account; but does not include any such account which the Bank declares shall cease to be a blocked account; > the banker, in relation to any person, means the Bank, or an agent of the Bank, which opens a blocked account in favour of that person, or which maintains for that person an account declared by the Bank to be a blocked account. (2) A person shall not, except with the authority of the Bank: (a) make any payment out of, or be a party to any transaction having the effect of making a payment out of, a blocked account; or (b) assign or charge any moneys standing to the credit of a blocked account. (3) Notwithstanding the provisions of the last preceding subregulation, the banker may transfer a blocked account to the name of the official receiver, trustee in bankruptcy, or personal representative, in Australia, of the person in whose favour the blocked account was opened. (4) Except as provided in the last preceding subregulation, or except with the authority of the Bank, no change shall be made in the name in which a blocked account stands, and, where any such change is made (whether or not the authority of the Bank is necessary therefor) then, notwithstanding the change, the blocked account shall remain a blocked account and the provisions of this regulation shall apply accordingly. (5) Where the payment to any person of any sum is permitted under regulation 8 of these Regulations subject to a condition that the payment shall be made to a blocked account: (a) the payment may be made either: (i) to the banker with a direction that it shall be credited to a blocked account of that person, which direction may, in the case of a payment by means of a cheque or warrant, be made by marking the cheque or warrant with the words Blocked account of (naming the person in question) or words to the like effect; or (ii) by a crossed cheque or warrant drawn in favour of that person marked with the words Payable only to blocked account of payee or words to the like effect; (b) the amount received shall be credited by the banker to a blocked account of that person; and (c) the crediting of that amount to that account shall, to the extent of the amount credited, be a good discharge to the person making the payment. (6) Where: (a) a payment is due from any person to any other person, but, under regulation 8 of these Regulations, the payment cannot lawfully be made except with the authority of the Bank; (b) that authority is granted subject to the condition that the payment shall be made to the Bank, or to an agent of the Bank, for credit to a blocked account; and (c) the person to whom the payment is due nominates a blocked account to the person by whom the payment is due; the person by whom the payment is due shall be under an obligation to the person to whom the payment is due to make the payment accordingly. Part III Control of proceeds of exports 14 Part not to apply in external Territories This Part does not apply within an external Territory. 15 Interpretation (1) In this Part, unless the contrary intention appears: > export value means: (a) in relation to exported goods other than goods referred to in paragraph (b) — the fair market value of the goods, less any amount payable (not being an amount payable to the owner) in respect of freight, insurance or other costs of exporting the goods or of landing them overseas, being the fair market value of the same or similar goods in the principal markets in the country to which they are exported as at the date of the contract of sale having regard to all the circumstances of the sale or, if there is no contract of sale, as at the time of export; and (b) in relation to goods exported for the purposes of sale by an Australian resident — the fair market value of the goods, less the costs of landing and selling the goods overseas that are to be met from the proceeds of sale, being the fair market value of the same or similar goods in the principal markets in the country to which they are exported as at the time of sale. > owner, in relation to goods, means the person who is entitled to the proceeds of sale of those goods, and includes a person who has power to sell, or procure the sale of, foreign currency received from the sale of those goods. > shipping documents means documents relating to the delivery, carriage or receipt of goods, including a bill of lading, shipping receipt, consignment note or way‑bill. (2) Subject to subregulation (1), expressions used in this Part, being expressions that are used in the Customs Act 1901, shall, unless the contrary intention appears, have the same respective meanings as in that Act. (3) For the purposes of this Part: (a) where a body corporate that is not a resident has a place of business in Australia, the body corporate shall be deemed to be a resident in relation to the affairs of the body corporate conducted by it, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business; and (b) where a body corporate that is a resident has a place of business outside Australia, the body corporate shall be deemed not to be a resident in relation to the affairs of the body corporate conducted by it at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business. 16 Exportation of goods prohibited unless approved payment received (1) A person shall not export goods unless: (a) payment of an amount equal to the export value of the goods has been or is to be received in Australia: (i) in such currency; (ii) in such manner; and (iii) within such period, before or after the date of exportation of the goods; as the Bank for the time being has approved; or (b) the authority of the Bank for the export has been obtained. (2) Approvals under paragraph (1) (a) shall be notified in the Gazette. (3) The owner exporting goods in accordance with the provisions of paragraph (1) (a) shall make such arrangements as are necessary to ensure that those provisions are complied with. 17 Foreign currency to be sold to bank in Australia Where foreign currency representing the proceeds of sale of goods that have been or are to be exported is received, the owner of the goods shall, unless otherwise authorized by the Bank, as soon as is reasonably practicable, sell that foreign currency, or procure the sale of that foreign currency, to a bank in Australia for Australian currency at a rate of exchange fixed or authorized by the Bank and in force for the time being. 18 Fulfilment of arrangements A person who, for any of the purposes of this Part, has made any arrangements in relation to the receipt of the proceeds of sale of goods that have been or are to be exported: (a) shall take reasonable steps to ensure that the arrangements are fulfilled; and (b) shall not, without the authority of the Bank, cancel or alter the arrangements. 19 Exporters to give information (1) A person shall not export goods, other than goods to which section 114A of the Customs Act 1901 applies, unless he has given to the Bank notice in writing stating: (a) the name and address of the exporter of the goods; (b) where the owner of the goods at the time of export will be a person other than the exporter, the name and address of that person; (c) the name and address of the person (if any) to whom the goods are to be consigned; (d) the bank in Australia by which, and the branch of that bank at which, any currency representing the proceeds of sale of the goods has been or is to be received; (e) the currency and manner in which the proceeds of sale of the goods have been or are to be received and, where payment has not been received, the period within which payment is to be received; (f) the amount shown in a Customs entry in relation to the goods as the invoice value of the goods; (g) whether the invoice value stated for the purpose of paragraph (f) is the f.o.b. value or the c.i.f. value and, if the value is neither an f.o.b. value nor a c.i.f. value, the basis on which the value is calculated; (h) the mode of transport to be used in the exportation of the goods and, if the goods are to be transported by sea, the name of the ship to be used; (i) the port, airport, or post office at which the goods are to be loaded or posted, as the case may be; (j) the date on which the goods are expected to leave Australia; (k) the port or airport at which the goods are to be discharged or, in the case of goods to be exported through the post, the country of destination of the goods; (l) the number and kind of packages of the goods; and (m) the quantity and description of the goods. (2) Notice for the purpose of subregulation (1) shall be given: (a) where the goods consist of a ship or aircraft that is to be exported otherwise than in another ship or aircraft — before the ship or aircraft leaves the place of exportation; (b) in the case of goods that are to be exported through the post — before the goods are posted; and (c) in any other case — before the goods are taken on board the ship or aircraft in which they are to be exported. (3) A person who exports goods to which section 114A of the Customs Act 1901 applies shall, within 7 days after the expiration of a period approved by the collector in respect of that person for the purposes of that section, give to the Bank notice in writing setting out such information as is, for the time being, prescribed by regulations in force for the purposes of that section in respect of goods to which that section applies that were exported by the person during that period. (4) It is a sufficient compliance with a requirement of this regulation that a notice be given to the Bank if the notice is given to the Collector. 20 Bank may require further particulars (1) Where a person has given notice for the purpose of subregulation (1) or (3) of regulation 19 in relation to goods, a person who is a prescribed person in relation to the goods shall, on request in writing by the Bank: (a) give to the Bank such further particulars in writing as are within his knowledge and are specified in the request in relation to: (i) the payment of the proceeds of sale of the goods or any arrangements made in relation to the receipt of the proceeds of sale of the goods; (ii) the manner in which, under any such arrangements, the amount that is or is to be paid for the goods is or is to be ascertained; and (iii) the bank and branch of the bank in Australia at which any currency representing the proceeds of sale of the goods has been or is to be received or sold; and (b) produce to the Bank such books and documents in his custody or control relating to a matter referred to in paragraph (a) as are specified in the request. (2) Books or documents produced in accordance with a request under subregulation (1) may be retained by the Bank for so long as is reasonably necessary for the making of copies of, or extracts from, the books or documents. (3) The Bank may make, or cause to be made, and may retain, copies of, or extracts from, any books or documents produced in accordance with a request under subregulation (1). (4) A person is not excused from giving particulars or producing a book or document on request by the Bank under this regulation on the ground that the giving of the particulars or the production of the book or document might tend to incriminate him or make him liable to a penalty, but particulars given, or a book or document produced, by him are not admissible in evidence against him except in proceedings for an offence arising out of the falsity of particulars given by him. (5) In this regulation, prescribed person, in relation to goods, means: (a) the person shown as the exporter or owner of the goods in a notice given under the subregulation (1) or (3) of regulation 19; (b) a person who has in his custody or under his control the shipping documents relating to the goods; or (c) any person who has received or is to receive an amount equal to or forming part of the proceeds of sale of the goods. 21 Provision where goods undervalued (1) Where: (a) notice has been given to the Bank under subregulation (1) or (3) of regulation 19 in respect of goods that have been or are to be exported; and (b) the amount shown in the notice as the invoice value of the goods is, in the opinion of the Bank, less than the export value of the goods or payment of an amount equal to the export value of the goods has not been received in Australia in accordance with regulation 16; the Bank may, by notice in writing given to the exporter or owner of the goods, require the exporter or owner of the goods to deliver the shipping documents relating to the goods to the Bank or an agent of the Bank. (2) A person to whom a notice is given in pursuance of subregulation (1) shall not, without reasonable excuse, fail to comply with the requirement of the notice. (3) Where shipping documents are delivered to the Bank or an agent of the Bank in accordance with a requirement under subregulation (1), the Bank or agent of the Bank may retain the documents until the Bank is satisfied that an amount equal to the export value of the goods has been, or will be, received by the owner. 22 Provisions of other laws not affected (1) This Part applies with respect to the exportation of 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 an authority under this Part or the exemption of goods from the application of this Part does not absolve a person from the obligation to comply with any other law relating to the exportation of the goods. 23 Indemnity (1) No claim, action or proceeding shall be made or brought by a person against the Bank or an agent of the Bank, or against an 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 an agent of the Bank under this Part. (2) Subregulation (1) does not apply in relation to any dealing that was done negligently or otherwise than in good faith. 24 Security (1) Before or after the export of any goods from Australia, the exporter or owner shall, if required so to do by the Bank, give security for compliance with the requirements of this Part. (2) Security required to be given under this regulation shall be in such form and for such amount as the Bank requires, shall be executed by the person giving the security and, if required by the Bank, shall also be executed by one or more sureties approved by the Bank, and shall be conditioned for the compliance by the person giving the security and all other persons bound thereby with the requirements of this Part. (3) Any security given under this regulation shall, unless the Bank otherwise determines, be for a sum equal to twice the amount that, in the opinion of the Bank, is the amount of the export value of the goods. Part IV Securities 33 Control of disposal of securities (1) A person shall not, without the authority of the Bank, take, send or transfer any securities to any place outside Australia. (2) For the purposes of this regulation, a person shall be deemed to transfer securities to a place outside Australia if he transfers securities from a register in Australia to a register outside Australia. 34 Control of foreign securities (1) Subject to subregulation (2), except with the authority of the Bank: (a) a person shall not, either on his own behalf or on behalf of another person buy, borrow, sell, lend or exchange, or otherwise deal with, foreign securities that are in Australia; and (b) a resident, or a person acting on behalf of a resident, shall not buy, borrow, sell, lend or exchange, or otherwise deal with, foreign securities that are outside Australia. (2) Subregulation (1) does not apply to the acquisition of foreign securities otherwise than for valuable consideration. (3) For the purposes of this regulation: (a) where a body corporate that is not a resident has a place of business in Australia, the body corporate shall be deemed to be a resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business; and (b) where a body corporate that is a resident has a place of business outside Australia, the body corporate shall be deemed not to be a resident in relation to the affairs of the body corporate conducted by the body corporate at or through that place of business, including any business carried on, transactions entered into and acts and things done by the body corporate at or through that place of business. (4) In this regulation, person does not include the Bank or an agent of the Bank. 35 Returns of foreign securities (1) Subject to such exceptions (if any) as are specified in the notice, the Bank may, by notice published in the Gazette, require every person: (a) who on or after the publication of the notice in the Gazette owns or has any interest in; or (b) who has, during any period specified in the notice, owned or had any interest in; foreign securities of a class so specified, to furnish a return to the Bank, or to such person as is so specified, giving such particulars with respect to those securities as are so specified. (2) A person required by any notice under the last preceding subregulation to furnish a return shall furnish the return within such period as is specified in the notice, or, in any particular case, within such longer period as the Bank or the person to whom the return is to be furnished allows. (3) A person shall not make any false or misleading statement in any return furnished under subregulation (1) of this regulation. Part V Miscellaneous 36 Declaration by travellers (1) Any person who is about to leave Australia (in this regulation referred to as the traveller) shall, if requested so to do by an officer: (a) declare whether or not he has with him any Australian currency, foreign currency or securities; and (b) produce any Australian currency, foreign currency or securities which he has with him. (2) The officer, and any person acting under his directions, may search the traveller and examine and search any article which the traveller has with him for the purpose of ascertaining if he has with him any Australian currency, foreign currency or securities, and may seize any Australian currency, foreign currency or securities found upon the examination or search unless the officer is satisfied that the traveller has not the Australian currency, foreign currency or securities with him for the purpose of being taken or sent out of Australia in contravention of these Regulations. (3) A female shall not be searched in pursuance of the last preceding subregulation except by a female. (4) Any officer, and any person acting under his directions, may go on board any ship or aircraft for the purpose of exercising the powers conferred on him by this regulation, and may also examine or search the ship or aircraft and any goods found thereon, for the purpose of ascertaining whether there is on board the ship or aircraft any Australian currency, foreign currency or securities for the purpose of being taken or sent out of Australia in contravention of these Regulations. (5) Any officer may seize any Australian currency, foreign currency and securities found upon any such examination or search which, in the opinion of the officer, are in the possession of any traveller, or on board the ship or aircraft, for the purpose of being taken or sent in contravention of these Regulations. (6) In this regulation, officer means a person who is an officer of Customs for the purposes of the Customs Act 1901‑1959, an officer of the Department of Immigration or a member of the Police Force of the Commonwealth or of a State or Territory of the Commonwealth, and includes a person authorized by the Bank to act as an officer for the purposes of this regulation. 38 Exemptions (1) Subject to any directions of the Treasurer, the Bank may, either wholly or to the extent specified, exempt from the application of the whole or any of the provisions of these Regulations: (a) any person, all persons, or every person included in any class of persons; (b) any act or transaction, all acts and transactions, or every act or transaction included in any class of acts or transactions; (c) any security, all securities, or every security included in any class of securities; or (d) any goods or goods included in any class of goods. (1A) An exemption under subregulation (1) may be granted either unconditionally or subject to such conditions as the Bank thinks fit. (2) Subject to any directions of the Treasurer, the Bank may revoke or vary any such exemption. 38A General authorities (1) The Bank may issue a general authority authorizing a person, or persons included in a class of persons, specified in the authority or all persons to do an act or thing, or acts or things, specified in the authority, the doing of which, except with the authority of the Bank, would otherwise be prohibited by these Regulations. (2) The provisions of these Regulations prohibiting the doing by a person of an act or thing, being an act or thing that the person is authorized to do by a general authority issued under subregulation (1), do not apply in relation to the doing of that act or thing by that person. 39 Authority of the Bank (1) Subject to any directions of the Treasurer, the grant of any authority by the Bank under any provision of these Regulations shall be in the absolute discretion of the Bank, and the authority may be granted either unconditionally or subject to such conditions as the Bank thinks fit for a purpose in relation to which these Regulations make provision. (2) Where the authority of the Bank is granted subject to conditions a person shall comply with all such conditions as are applicable to him. (3) Subject to any directions of the Treasurer, the Bank may revoke or vary any authority granted by the Bank under any provision of these Regulations. (4) In this regulation, authority includes a general authority issued under regulation 38A. 39A Directions by Treasurer In giving directions under regulations 38 and 39, the Treasurer is to take into account Australia’s relations with other countries and its obligations under international law. 40 False statements A person shall not make: (a) to any Commonwealth officer; (b) to any officer of the Bank or of an agent of the Bank; (c) to any person who is authorized, by a general authority issued under regulation 38A, to engage in foreign currency transactions or to any director, officer, employee or agent of such a person; 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. 41 Contracts to evade Regulations 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. 42 Offences (1) A person shall not contravene or attempt to contravene, or fail to comply with, any of the provisions of these Regulations. Penalty: (a) if the offence is prosecuted summarily — a fine not exceeding One thousand dollars or imprisonment for a term not exceeding six months; or (b) if the offence is prosecuted upon indictment —a fine not exceeding One hundred thousand dollars or imprisonment for a period not exceeding five years. (2) Subject to subregulations (3) and (4) where a person has been convicted by a court of an offence against these Regulations, the court may, if it thinks fit, order the forfeiture of all or any of the articles in respect of which the offence was committed. (3) The court shall not make an order under subregulation (2) for the forfeiture of any articles if a person satisfies the court: (a) that he is the owner of those articles; and (b) that he was not, in any way, directly or indirectly knowingly concerned in, or party to, the commission of the offence. (4) The court shall not make an order under subregulation (2) unless: (a) in a case where it appears to the court that a person other than the person convicted of the offence is the owner of all or any of the articles in respect of which the offence was committed — the court has caused notice of the prescribed particulars to be given to the first‑mentioned person; or (b) in a case where it appears to the court that the owner of all or any of the articles in respect of which the offence was committed is not known — the court has caused notice of the prescribed particulars to be given by public advertisement in such manner, at such times, and in such places as the court considers appropriate. (5) For the purposes of subregulation (4) the prescribed particulars are: (a) particulars of the offence; (b) particulars of the articles in respect of which the offence was committed; and (c) particulars of the time, date and place at or upon which the court proposes to consider any application in relation to the forfeiture of the articles in respect of which the offence was committed. (6) In this regulation the articles in respect of which the offence was committed means the goods, Australian currency, foreign currency or securities in respect of which the offence was committed. 43 Property obtained in contravention of Regulations (1) Where a person has been convicted by a court of an offence against these Regulations, the court may, if it thinks fit, order the disposal in accordance with the directions of the Bank of any Australian currency, foreign currency, goods or other property in respect of which the offence was committed that the person is entitled to sell or of which he is entitled to procure the sale. (2) A person who is ordered by a court under subregulation (1) to dispose of property shall comply with that order. 44 Agents of the Bank (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 Gazette purporting to contain a notification of the appointment or revocation, as the case may be. 45 Validation No act or thing done, or contract or other transaction entered into, is invalid or unenforceable by reason only that the provisions of these Regulations have not been complied with. > Notes to the Banking (Foreign Exchange) Regulations 1959 > Note 1 > Note: The Banking (Foreign Exchange) Regulations 1959 (in force under the Banking Act 1959) as shown in this compilation comprise Statutory Rules 1946 No. 191 amended as indicated in the Tables below. > Note: Under the Legislative Instruments Act 2003, which came into force on 1 January 2005, it is a requirement for all non‑exempt legislative instruments to be registered on the Federal Register of Legislative Instruments. From 1 January 2005 the Statutory Rules series ceased to exist and was replaced with Select Legislative Instruments (SLI series). Numbering conventions remain the same, ie Year and Number. > Note: > Note: Table of Instruments | Year andnumber | Date of notificationin Gazette or FRLI registration | Date ofcommencement | Application, saving ortransitional provisions | | -------------- | --------------------------------------------------- | ------------------------------------------------- | --------------------------------------------- | | 1946 No. 191 | 19 Dec 1946 | 1 Jan 1947 | | | 1947 No. 65 | 23 May 1947 | 23 May 1947 | — | | 1947 No. 102 | 4 Aug 1947 | 4 Aug 1947 | — | | 1948 No. 39 | 15 Mar 1948 | 15 Mar 1948 | — | | 1948 No. 165 | 6 Jan 1949 | 6 Jan 1949 | — | | 1950 No. 46 | 18 Aug 1950 | 18 Aug 1950 | — | | 1952 No. 15 | 13 Mar 1952 | 13 Mar 1952 | — | | 1952 No. 80 | 19 Sept 1952 | 19 Sept 1952 | — | | 1953 No. 24 | 26 Mar 1953 | 26 Mar 1953 | — | | 1954 No. 96 | 1 Sept 1954 | 1 Sept 1954 | — | | 1960 No. 8 | 14 Jan 1960 | 14 Jan 1960 | R. 13 (2) | | 1965 No. 168 | 18 Nov 1965 | 18 Nov 1965 | — | | 1967 No. 70 | 8 June 1967 | 8 June 1967 | — | | 1970 No. 130 | 17 Sept 1970 | 17 Sept 1970 | — | | 1973 No. 72 | 5 Apr 1973 | 5 Apr 1973 | — | | 1973 No. 197 | 4 Oct 1973 | 4 Oct 1973 | — | | 1974 No. 56 | 11 Apr 1974 | 11 Apr 1974 | — | | 1974 No. 97 | 28 May 1974 | 28 May 1974 | — | | 1974 No. 265 | 23 Dec 1974 | 23 Dec 1974 (see r. 1 and Gazette 1974, No. 103D) | — | | 1975 No. 222 | 23 Dec 1975 | 23 Dec 1975 | — | | 1975 No. 223 | 23 Dec 1975 | 23 Dec 1975 | — | | 1978 No. 259 | 20 Dec 1978 | 20 Dec 1978 | R. 1 | | 1984 No. 111 | 21 June 1984 | 21 June 1984 | — | | 1990 No. 266 | 8 Aug 1990 | 8 Aug 1990 | — | | 2002 No. 40 | 7 Mar 2002 | 11 Mar 2002 (see r. 2 and Gazette 2001, No. GN42) | — | | 2007 No. 71 | 30 Mar 2007 (see F2007L00819) | 31 Mar 2007 | — | > Note: > Note: Table of Amendments ```html <table cellspacing="0" cellpadding="0" style="border-collapse:collapse"><thead><tr><td colspan="2" style="width:341.9pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted</td><td style="border-bottom:0.75pt solid #000000; vertical-align:top"></td></tr><tr><td style="width:111.1pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Provision affected</td><td colspan="2" style="width:233pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">How affected</td></tr></thead><tbody><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Heading to Part I........</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. 1947 No. 65</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 1.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 2002 No. 40</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 2.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 3.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1975 No. 222</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 4.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1947 No. 102; 1948 Nos. 39 and 165; 1950 No. 46; 1952 No. 15; 1954 No. 96; 1960 No. 8; 1965 No. 168; 1967 No. 70; 1970 No. 130; 1973 No. 197; 1974 No. 265; 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 5.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1974 No. 265; 1984 No. 111; 2002 No. 40</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 5A................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. 2007 No. 71</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 7.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1947 No. 65</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1952 No. 80; 1954 No. 96</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1960 No. 8; 1967 No. 70; 1974 Nos. 97 and 265</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 8.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1947 No. 65; 1960 No. 8; 1974 No. 265; 1975 No. 222</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 9.................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1974 No. 265</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 10................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 11................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1974 No. 265</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 13................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1952 No. 15; 1954 No. 96</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Part III................ (rr. 14–26, 28–32)</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Part III................ (rr. 14–24)</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 14................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 15................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1960 No. 8; 1975 No. 223</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Rr. 16, 17.............</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 18................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1953 No. 24; 1967 No. 70</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 19................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Rr. 20‑22.......</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 23................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1950 No. 46; 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 24................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1954 No. 96</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Rr. 25, 26.............</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 27................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Rr. 28, 29.............</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 30................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Rr. 31, 32.............</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 34................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1960 No. 8; 1974 No. 265</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 36................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 37................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1974 No. 265</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 38................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 38A...............</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. 1975 No. 222</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 39................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1974 No. 265; 1975 No. 222</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 39A...............</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. 1990 No. 266</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 40................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1960 No. 8; 1974 No. 265; 1984 No. 111</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 42................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1954 No. 96; 1967 No. 70; 1973 No. 197; 1974 Nos. 56 and 265; 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 43................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rs. 1974 No. 265</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">R. 45................</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. 1974 No. 265</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Heading to The Schedules.</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">First Schedule..........</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">am. 1953 No. 24; 1960 No. 8; 1967 No. 70; 1973 No. 72</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1978 No. 259</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">Second Schedule.......</td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1960 No. 8</td></tr><tr><td style="width:111.1pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">ad. 1970 No. 130</td></tr><tr><td style="width:111.1pt; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"></td><td colspan="2" style="width:233pt; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top">rep. 1973 No. 197</td></tr><tr style="height:0pt"><td style="width:121.9pt"></td><td style="width:230.8pt"></td><td style="width:13pt"></td></tr></tbody></table> ```