Commonwealth Numbered Regulations

1984 No. 350 DAIRY PRODUCE EXPORT CONTROL (LICENCES) REGULATIONS (AMENDMENT) - REG 2

2. Regulation 8 of the Dairy Produce Export Control (Licences) Regulations is
amended-

   (a)  by inserting after sub-regulation (2) the following sub-regulations:



"(2A) A licensee shall not export dairy produce referred to in sub-regulation
(2) unless, where the price first mentioned in that sub-regulation is not
expressed in United States currency, the licensee has, on the day on which
that produce was sold for export or consigned for sale, as the case may be,
obtained a quote from a foreign exchange dealer for a rate of exchange at
which to convert the amount of that price into an amount in that currency.



"(2B) For the purposes of sub-regulation (2), where the amount of the price
first mentioned in that sub-regulation is not expressed in United States
currency, that amount shall be converted into an amount in that currency at
the rate of exchange referred to in sub-regulation (2A).";

   (b)  by omitting paragraph (3) (a) and substituting the following
        definition:



" 'Arrangement' means the International Dairy Arrangement done at Geneva on 12
April 1979, as in force at 1 December 1984;";

   (c)  by omitting from paragraph (3) (b) "(b)";

   (d)  by adding at the end of sub-regulation (3) the following definition:



" 'foreign exchange dealer' means a person in respect of whom there is in
force a general authority issued under regulation 38A of the Banking (Foreign
Exchange) Regulations to deal in Australia with foreign currency as a
dealer."; and

   (e)  by omitting sub-regulation (4).