Currency and Exchanges Act, 1933 (Act No. 9 of 1933)RegulationsExchange Control Regulations, 19618. Power to prescribe currencies in respect of certain transactions |
| (1) | The Treasury may from time to time prescribe, by notice in the Gazette or by instructions to authorised dealers, the currency or currencies or the manner in which payment may or may not be made in connection with imports or exports or other transactions involving payments between persons in the Republic and persons outside the Republic, and no person shall, except with the permission of the Treasury, and in accordance with such conditions as the Treasury may impose, make or receive payment otherwise than in the currency or currencies or in the manner so prescribed. |
| (2) | Without prejudice to the generality of the provisions of subregulation (1), any notice and any instructions under the said subregulation may relate to payments (including any particular payment)— |
| (a) | in connection with the import or export of any commodity specified in the notice or instructions— |
| (i) | to or from all countries; or |
| (ii) | to or from all countries except any country specified in the notice or instructions; or |
| (iii) | to or from any country so specified; or |
| (b) | in connection with any particular transaction. |
| (3) | The provisions of subregulation (10) of Regulation 6 shall apply mutatis mutandis to the export from the Republic of any commodity to a country in connection with the export of which commodity to that country the Treasury has in terms of subregulation (2) above prescribed the currency or currencies or the manner in which payment may or may not be made. |