CAP. 52 EXCHANGE CONTROL REGULATIONS ACT BELIZE

EXCHANGE CONTROL REGULATIONS ACT

CHAPTER 52

REVISED EDITION 2000

SHOWING THE LAW AS AT 31ST DECEMBER, 2000.

This is a revised edition of the law, prepared by the Law Revision Commissioner

under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,

Revised Edition 1980 - 1990.

This edition contains a consolidation of the following laws - Page

ARRANGEMENT OF SECTIONS 3

EXCHANGE CONTROL REGULATIONS ACT 3 Amendments in force as at 31st December, 2000

BELIZE

EXCHANGE CONTROL REGULATIONS ACT

CHAPTER 52

REVISED EDITION 2000

SHOWING THE LAW AS AT 31ST DECEMBER, 2000.

This is a revised edition of the law, prepared by the Law Revision Commissioner

under the authority of the Law Revision Act, Chapter 3 of the Laws of Belize,

Revised Edition 1980 - 1990.

This edition contains a consolidation of the following laws - Page

ARRANGEMENT OF SECTIONS 3

EXCHANGE CONTROL REGULATIONS ACT 3 Amendments in force as at 31st December, 2000

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

[CAP. 52 3

[ ]

Exchange Control Regulations

CHAPTER 52

EXCHANGE CONTROL REGULATIONS

ARRANGEMENT OF SECTIONS

1. Short title.

2. Interpretation.

3. Minister may make Exchange Control Regulations.

4. Exemption.

5. Controller.

6. Penalties.

CHAPTER 52

EXCHANGE CONTROL REGULATIONS

[30th December, 1972]

[18th May, 1992]

1. This Act may be cited as the Exchange Control Regulations Act.

2. In this Act, unless the context otherwise requires:-

“Minister” means the Minister of the Government for the time being responsible

for exchange control;

24 of 1972.

5 of 1992.

Short title.

Interpretation.

CAP. 43,

R.E. 1980-1990.

CAP. 52]

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

4

[ ]

Exchange Control Regulations

“Controller” means the person so appointed by the Minister by a notice

published in the Gazette in pursuance of section 5.

3.-(1) The Minister may by an Order published in the Gazette make such

regulations (hereinafter referred to as “exchange control regulations”) as he

may deem expedient in respect of any matter or thing connected with ex-

change control.

(2)Without prejudice to the generality of the powers conferred by subsec-

tion (1), exchange control regulations may be made to confer powers, and

impose duties and restrictions, in relation to gold, currency, payments, securi-

ties, debts, and the import, export, transfer and settlement of property, and for

purposes connected with the matters mentioned in this subsection.

4. The Minister may by an Order published in the Gazette exempt any

person or body of persons from the provisions of the exchange control regu-

lations.

5.-(1) The Minister may appoint a person to be the Controller for the pur-

poses of the exchange control regulations.

(2)The Controller shall administer and enforce the exchange control regu-

lations, and perform the duties thereunder, and shall have the power to make

and issue such orders and directions as may be necessary to implement the

provisions of the exchange control regulations.

(3)The orders of the Controller shall be published in the Gazette.

6.-(1) Any person who fails to comply with or contravenes any of the regula-

tions made under this Act is guilty of an offence and is liable on summary

conviction to a fine not exceeding four thousand dollars or to imprisonment for

a term not exceeding twelve months, or to both such fine and imprisonment.

Minister may make

exchange control

regulations.

Exemption.

Penalties.

Controller.

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2000

Printed by the Government Printer,

No. 1 Power Lane,

Belmopan, by the authority of

the Government of Belize.

[CAP. 52 5

[ ]

Exchange Control Regulations

(2) Where the offence is concerned with any currency, security, payment,

gold, goods or any other property, and does not consist only of a failure to give

information or to produce books, accounts or other documents with respect

thereto when required to do so under any exchange control regulations, a larger

fine may be imposed not exceeding three times the amount or value of the

currency, security, payment, gold, goods, or property.