Federal Register of Legislation - Australian Government

Primary content

Directions/Other as made
This instrument revokes variations of exemption relating to sub-regulations 6(1) and 8(1)(a), and direction relating to foreign currency transactions and to Libya issued under regulation 5 of the Banking (Foreign Exchange) Regulations 1959 on 4 March 2011 and as subsequently amended.
Administered by: Treasury
Exempt from sunsetting by the Legislative Instruments Act 2003 s 54(2) item 43
Registered 28 Feb 2012
Tabling HistoryDate
Tabled HR01-Mar-2012
Tabled Senate01-Mar-2012
Date of repeal 09 Aug 2013
Repealed by Treasury (Spent and Redundant Instruments) Repeal Regulation 2013

BANKING (FOREIGN EXCHANGE) REGULATIONS 1959

REVOCATION OF VARIATIONS OF EXEMPTION AND DIRECTION RELATING TO FOREIGN CURRENCY TRANSACTIONS – LIBYA

In accordance with a direction from the Treasurer, the Reserve Bank of Australia revokes the following instruments.

The Reserve Bank of Australia, pursuant to sub‑regulation 38(2) of the Banking (Foreign Exchange) Regulations 1959 (the “Regulations”), hereby revokes:

1.      the Variation of Exemption dated 4 March 2011, as published in the Commonwealth of Australia Gazette No. S 35, 9 March 2011 (and as subsequently amended), relating to sub‑regulation 6(1) of the Regulations and to certain persons and entities in or associated with Libya; and

 

2.      the Variation of Exemption dated 4 March 2011, as published in the Commonwealth of Australia Gazette No. S 36, 9 March 2011 (and as subsequently amended), relating to sub‑regulation 8(1)(a) of the Regulations and to certain persons and entities in or associated with Libya.

Further, the Reserve Bank of Australia, pursuant to section 33(3) of the Acts Interpretation Act 1901, hereby revokes the Direction Relating To Foreign Currency Transactions And To Libya issued under regulation 5 of the Regulations dated 4 March 2011, as published in the Commonwealth of Australia Gazette No. S 34, 9 March 2011 (and as subsequently amended), relating to foreign currency transactions involving certain persons and entities in or associated with Libya.

This instrument commences, and the revocations in it take effect, upon the commencement of the Autonomous Sanctions (Designated and Declared Persons - Libya) List 2012, made pursuant to subregulation 6(1) of the Autonomous Sanctions Regulations 2011.

Dated at Sydney this 22nd of February 2012.

For and on behalf of the Reserve Bank of Australia,

 

 

Glenn Stevens

Governor