Exchange Control (Payments) Order 1967
| Jurisdiction | UK Non-devolved |
| Citation | SI 1967/1189 |
| Year | 1967 |
1967 No. 1189
EXCHANGE CONTROL
The Exchange Control (Payments) Order 196727thJuly 1967
8thAugust 1967
9thAugust 1967
The Treasury, in exercise of the powers conferred upon them by sections 23, 31 and 36(5) of the Exchange Control Act 1947(a), hereby make the following Order:—
1. There shall be exempted from the provisions of section 5 of the Exchange Control Act 1947 anything done for the purpose of the transfer to the account (not being a Rhodesian account) of any person of the whole or any part of an amount standing to the credit of an account (being an account with an authorised bank but not being a Rhodesian account) of a person resident outside the scheduled territories.
2. There shall be exempted from the provisions of the said section 5 any payment made in cash in the United Kingdom or in the Channel Islands to a person resident outside the scheduled territories—
(a) by a person resident outside the scheduled territories if that payment is made out of—
(i) any notes of a class which are or have at any time been legal tender in the United Kingdom or the Channel Islands or any part of the United Kingdom or the Channel Islands, or
(ii) any moneys withdrawn from an account (being an account with an authorised bank but not being a Rhodesian account) of that person, or
(iii) any moneys arising from the sale of gold or any foreign currency by that person to an authorised dealer, or
(iv) any foreign currency provided that the payment is not made as consideration for or in association with the receipt by any person of sterling;
(b) by a person resident in the scheduled territories if that payment—
(i) does not exceed £10 sterling in value, and
(ii) does not form part of a transaction or series of transactions wherein the aggregate value of the payments exceeds £10 sterling;
(c) by an authorised bank acting in the course of its business if that payment is being made from moneys standing to the credit of an account (not being a Rhodesian account) of a person resident outside the scheduled territories with that authorised bank;
(a) 1947 C.14.
(d) by a banker in the United Kingdom or the Channel Islands acting in the course of his business if that payment is in respect of the encashment by that person of a travellers' cheque or letter of credit in favour of that person.
3. For the purposes of section 23 of the said Act—
(a) the prescribed territory shall be any territory outside the scheduled territories;
(b) the prescribed manner of...
To continue reading
Request your trial