Foreign Exchange Control Regulations


1988 Revised Edition






C
T

FOREIGN EXCHANGE CONTROL
REGULATIONS

Foreign Exchange Control Regulations
CAP. 103A Arrangement of

Regulations





1988 Revised Edition
to

Page 3



C
T

FOREIGN EXCHANGE CONTROL REGULATIONS

Arrangement of Regulations
Regulation

RESTRICTIONS ON SENDING MONEY AND SECURITIES OUT OF
THE KINGDOM ..................................................................................................6

RESTRICTION ON IMPORTING CERTAIN GOODS INTO
THE KINGDOM ..................................................................................................7



THE SCHEDULE 8

APPLICATION FOR LICENCE TO IMPORT GOODS: ......................................8


Foreign Exchange Control Regulations CAP. 103A Regulation 1




1988 Revised Edition
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Page 5



C
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FOREIGN EXCHANGE CONTROL REGULATIONS

Made by Her Majesty in Council on 24th February, 1965

G. 7/65, G. 405/81

[24th February, 1965]

1. These regulations may be cited as the Foreign Exchange Control
Regulations.

2. In these regulations, unless the context otherwise requires —

“foreign currency” includes notes, coins, postal notes, money orders,
bills of exchange, promissory notes, drafts, letters of credit and travellers'
cheques, payable or expressed otherwise than in Tongan money, and also
includes rights, and instruments of title, to money other than Tongan
money;

“Minister” means the Minister of Finance and includes any person for the
time being authorized by the Minister to exercise any of his powers or
functions under these Regulations;

“money” includes the bank-notes and other currency of any country, and
includes postal notes, money-orders, promissory notes, bills of exchange
and any other negotiable instruments payable in the currency of any
country;

“net proceeds of exports” means the gross proceeds of exports less such
commission, charges and deductions as are customary and reasonable
having regard to established trade practices relative to the goods being
exported;

“person” includes any number of persons corporate or unincorporate;

Regulation 3 CAP. 103A Foreign Exchange Control Regulations




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“securities” includes shares, stock, bonds, debentures, debenture stock,
Treasury Bills, and units or sub-units of a unit trust, and also includes
deposit receipts in respect of the deposit of securities and documents of
title to securities;

“Tongan currency” includes notes, coins, postal orders, money orders,
bills of exchange, promissory notes, drafts, letters of credit and travellers'
cheques, payable or expressed in Tongan money, and also includes rights,
and instruments of title, to Tongan money.

RESTRICTIONS ON SENDING MONEY AND SECURITIES OUT OF
THE KINGDOM

3. No person shall, except with the consent of the Minister —
(a) take or send money out of the Kingdom of Tonga;
(b) draw or negotiate any bill of exchange or promissory note, transfer

any security or acknowledge any debt so that a right (whether actual
or contingent) to receive a payment in Tonga is created or
transferred as consideration —
(i) for receiving a payment or acquiring property outside Tonga;
(ii) for a right (whether actual or contingent) to receive a

payment or acquire property outside Tonga, or make any
payment in Tonga as such consideration;

(c) create or transfer a right (whether actual or contingent) to receive a
payment or acquire property outside Tonga or dispose of or
otherwise deal with any money, securities, or property held or
payable outside Tonga as consideration for receiving a payment or
acquiring property in Tonga, or for the discharge of a debt payable
in Tonga;

(d) take, send or transfer any securities from Tonga;
(e) make an entry in a register in Tonga that recognises or gives effect

to a transfer of any securities to a person resident outside Tonga.

4. The Minister may exempt any transaction or class of transaction by
publication of notice in the Gazette.

5. For the purposes of these Regulations money shall be deemed to be taken
or sent if it is taken or sent by telegraph or post or by means of draft, letter
of credit, traveller's cheque, transfer of account, or any other means
whatsoever.

Foreign Exchange Control Regulations CAP. 103A Regulation 6




1988 Revised Edition
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Page 7



RESTRICTION ON IMPORTING CERTAIN GOODS INTO
THE KINGDOM

6. The Minister may from time to time publish in the Gazette a list of goods
that are prohibited imports without a licence granted by the Minister.1

7. Applications for import licences shall be made to the Minister in the form
set out in the Schedule to these Regulations, and accompanied by a fee of
$5. (Amended by G. 405/81.)

8. A person who applies to the Minister for any consent, permission, licence
or exemption under these regulations shall furnish all information and
particulars as the Minister may require.

9. Any consent, permission, licence or exemption granted by the Minister
may be revoked by him.

10. A person shall not —
(a) with intent to deceive, make any false statement in any writing or

declaration made for the purposes of complying with these
regulations or in any communication with or application to the
Minister;

(b) resist, obstruct or deceive any person who is lawfully exercising
any power or function under these regulations;

(c) without lawful excuse act in contravention of or fail to comply with
any provision of these regulations, or any direction, notice,
requirement or condition given or imposed under these regulations.

11. A person who commits an offence against these regulations shall be liable
on summary conviction —
(a) in the case of an individual to a fine not exceeding $100 or

imprisonment for a term not exceeding 12 months;
(b) in the case of a body corporate, to a fine not exceeding $1000.



1 Import restriction is now primarily dealt with under the Customs and Excise Act (Cap. 67): see

Schedule 11 thereof.


THE SCHEDULE CAP. 103A Foreign Exchange Control Regulations




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THE SCHEDULE

APPLICATION FOR LICENCE TO IMPORT GOODS:

Full Name of Applicant: ……………………………………………………………….

Address: ………………………………………………………………………………..

Occupation: …………………………………………………………………………….

Purchase price of goods proposed to be imported: …………………………………….

Place from which goods are to be shipped: ……………………………………………

Purposes for which goods are to be imported: …………………………………………

The abovenamed applicant hereby applies for a licence to import in the terms of the
particulars set out above, the goods described below:

Distinguishing Marks Descriptions of goods, and number and
description of packages

Quantities



Date ………………………….. Signature .....................................................................

I hereby license the importation of the goods described in the above application in
accordance with the provisions of the Foreign Exchange Control Act.

Date ........................................... Signature .....................................................................

Minister.
Form in triplicate —

one for Customs one for Applicant one for Treasury.