S.I. No. 349/1978:

EXCHANGE CONTROL (No. 5) REGULATIONS, 1978.

EXCHANGE CONTROL (No. 5) REGULATIONS, 1978.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by section 30 of the Exchange Control Act, 1954 (No. 30 of 1954), as continued by the Exchange Control (Continuance and Amendment) Act, 1978 (No. 24 of 1978), hereby make the following regulations:

1. (1) These Regulations may be cited as the Exchange Control (No. 5) Regulations, 1978.

(2) The collective citation "the Exchange Control Regulations, 1959 to 1978" shall include these Regulations.

(3) These Regulations shall come into operation on the 18th day of December, 1978.

2. The Exchange Control Regulations, 1959 ( S.I. No. 44 of 1959 ) are hereby amended by--

( a ) in Article 5, the substitution of "Dublin Foreign Exchange" for "London Foreign Exchange",

( b ) in Article 8, the deletion of subparagraph (ii) of paragraph (a),

( c ) in Article 9, the deletion of "or sterling" in paragraph (2),

( d ) the deletion of Articles 11, 12, 15 and 16, and

( e ) in Article 20, the deletion of paragraph (b).

3. The Exchange Control Regulations, 1973 ( S.I. No. 21 of 1973 ), are hereby amended by the deletion of Article 2.

GIVEN under my Official Seal, this 15th day of December, 1978.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the Exchange Control Regulations, 1959, by making the necessary consequential changes in those Regulations following the exclusion of Northern Ireland, Great Britain, the Channel Islands and the Isle of Man from the "scheduled territories" by the Exchange Control (Scheduled Territories) Regulations, 1978.

These Regulations also amend the Exchange Control Regulations, 1973, by the deletion of Article 2, thus removing Gibraltar from the "scheduled territories".