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Thursday, 5 December 1974
Page: 4628

Bill returned from the Senate with amendments.

Motion ( by Mr Crean) agreed to:

That the amendments be taken into consideration in Committee of the whole House forthwith.

In Committee

Consideration of Senate's amendments. Clause 3.

Part III of the Principal Act is repealed and the following Part substituted:

39-

(6)   Regulations under this section may provide that the validity of an act done, or transaction entered into, shall not be called in question in any proceedings on the ground that the provisions of the regulations have not, or a particular provision of the regulations specified in the regulations has not, been complied with, but regulations so made shall not be construed as having the effect of preventing a person from being convicted of an offence against the regulations by reason of his having failed to comply with a provision of the regulations.

Senate 's amendment No. 1 -

In sub-section (6) of proposed section 39, lines 16 to 23, leave out the sub-section, insert the following sub-section:

(6)   Regulations under this section may provide that no act or thing done, or contract or other transaction entered into, is invalid or unenforceable by reason only that the provisions of the regulations have not, or a particular provision of the regulations specified in the regulations has not, been complied with, but regulations so made shall not be construed as having the effect of preventing a person from being convicted of an offence against the regulations by reason of his having failed to comply with a provision of the regulations.'.

Clause 5.

(   1 ) The validity of an act done, or a transaction entered into, before the commencement of this Act, shall not be called in question in any proceedings on the ground that a provision of the Banking (Foreign Exchange) Regulations has not been complied with, but the foregoing shall not be construed as having the effect of preventing a person from being convicted of an offence against those regulations by reason of his having failed to comply with a provision of those regulations.

Senate's amendment No. 2-

In sub-clause ( 1 ), lines 32 to 38, leave out the sub-clause, insert the following sub-clause:

(   1 ) No act or thing done, and no contract or other transaction entered into, before the commencement of this Act, shall be deemed to be, or ever to have been, invalid or unenforceable by reason only that a provision of the Banking (Foreign Exchange) Regulations has not been complied with, but the foregoing-

(a)   does not apply to any act, thing, contract or other transaction the validity of which, has, before 3 December 1974, been called in question, for that reason, in any proceedings, whether or not the proceedings have been completed before that date, except proceedings in which the court holds that it is just and equitable that the act, thing, contract or other transaction should be treated as being valid; and

(b)   shall not be construed as having the effect of preventing a person from being convicted of an offence against the Banking (Foreign Exchange) Regulations by reason of his having failed to comply with a provision of those regulations. '.







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