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Tuesday, 3 December 1974
Page: 3073

Senator COTTON (New South Wales) - I will be extremely brief. As I take it, we in the Opposition are in agreement with this amendment to sub-section (6) of proposed section 39. As I see it, unless someone else wants to get involved in the debate, the amendment could go through without any further discussion or argument. It is when we come to clause 5 that we will get involved in a consideration of an amendment to be moved by Senator Missen.

Amendment agreed to.

Clause, as amended, agreed to.

Clause 4 agreed to.

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.

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