BANKING (FOREIGN EXCHANGE) REGULATIONS 1959
REVOCATION OF VARIATIONS OF EXEMPTION AND DIRECTION RELATING TO FOREIGN CURRENCY TRANSACTIONS – THE FORMER FEDERAL REPUBLIC OF YUGOSLAVIA
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 October 2007, as published in the Commonwealth of Australia Gazette No. GN 40, 10 October 2007 (and as subsequently amended), relating to sub‑regulation 6(1) of the Regulations and to certain persons and entities in or associated with the former Federal Republic of Yugoslavia; and
 
2.      the Variation of Exemption dated 17 October 2001, as published in the Commonwealth of Australia Gazette No. GN 42, 24 October 2001 (and as subsequently amended), relating to sub‑regulation 8(1)(a) of the Regulations and to certain persons and entities in or associated with the former Federal Republic of Yugoslavia
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 The Former Federal Republic Of Yugoslavia issued under regulation 5 of the Regulations  dated 5 April 2002, as published in the Commonwealth of Australia Gazette No. GN 20, 22 May 2002 (and as subsequently amended), relating to foreign currency transactions involving certain persons and entities in or associated with the former Federal Republic of Yugoslavia.
This instrument commences, and the revocations in it take effect, upon the commencement of the Autonomous Sanctions (Designated and Declared Persons – Former Federal Republic of Yugoslavia) 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