Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Exchange Control (Branches and Residence) Directions, 1951

As Enacted Cited in Related
Vincent
JurisdictionUK Non-devolved
CitationSI 1951/962
Year1951

1951 No. 962

The Exchange Control (Branches and Residence) Directions, 1951

31stMay 1951

5thJune 1951

The Treasury, in pursuance of section 39 and subsection (2) of section 41 of the Exchange Control Act, 1947(a), (hereinafter called "the Act"), and of those sections as extended to the Channel Islands by the Exchange Control (Channel Islands) Order, 1947(b), hereby give the following Directions:—

1. For the purposes of the Act any transaction with or by a branch of any business, whether carried on by a body corporate or otherwise, shall be treated in all respects as if the branch were a body corporate resident where the branch is situate.

2. A person or body of persons carrying on in the United Kingdom a branch of any business, shall, as respects such business as is carried on by that branch, be treated for all the purposes of the Act as resident in the United Kingdom.

3. References in these Directions to a branch of a business shall be deemed to include a reference to the head office of that business.

4. These Directions shall apply to the Channel Islands.

5. These Directions may be varied by subsequent Directions as respects any particular person or body of persons.

6. The Direction dated the 20th September, 1947(c), given by the Treasury under subsection (2) of section 41 of the Act is hereby revoked.

7. These Directions shall come into force on the 5th day of June, 1951, and may be cited as the Exchange Control (Branches and Residence) Directions, 1951.

Wm. Hannan, H. W. Bowden, Two of the Lords Commissioners of His Majesty's Treasury.

Dated this 31st day of May, 1951.

(a) 10 & 11 Geo. 6. c. 14.

(b) S.R. & O. 1947...

To continue reading

Request your trial

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT