S.I. No. 354/1971:

EXCHANGE CONTROL (No. 2) REGULATIONS, 1971.

EXCHANGE CONTROL (No. 2) REGULATIONS, 1971.

I, SEOIRSE Ó COLLA, Minister for Finance, in exercise of the powers conferred on me by sections 30 and 31 of the Exchange Control Act, 1954 (No. 30 of 1954), as continued by the Exchange Control (Continuance) Act, 1970 (No. 23 of 1970), hereby make the following regulations:

1. (1) These Regulations may be cited as the Exchange Control (No. 2) Regulations, 1971.

(2) The collective citation " the Exchange Control Regulations, 1959 to 1971 " shall be deemed to include these Regulations.

2. The First National Bank of Chicago, 31 Dame Street, Dublin, 2, is hereby appointed to be an authorised dealer.

3. The Second Schedule to the Exchange Control Regulations, 1959 (inserted by the Exchange Control Regulations, 1967 ( S.I. No. 121 of 1967 )) is hereby amended by the deletion of " Libya ".

GIVEN under my Official Seal this 23rd day of December, 1971.

SEOIRSE Ó COLLA,

Minister for Finance.

EXPLANATORY NOTE.

These Regulations amend the list of scheduled territories by the deletion of Libya. In future, all currency transactions with that country will be subject to Exchange Control.

The Regulations also amend the Exchange Control Regulations, 1959, by appointing the First National Bank of Chicago, 31 Dame Street, Dublin 2, to be an authorised dealer for the purposes of the Exchange Control Acts.