Exchange Control (Amendment) Regulations 2002

2 Exchange Control Regulations No. 31]

Amendment of the Ninth Schedule.

3. The Ninth Schedule to the principal Regulations is hereby amended as follows:

(a) by deleting paragraph 2 and replacing it by the following:

"2. Subject to these Regulations, the Licensee may sell foreign currency to any person";

(b) in paragraph 7, by substituting the figure "US$2,500.00" for the figure "US$500.00" occurring therein;

(c) in paragraph 8, by substituting the words "every month" for the words "every week" occurring in line 4 thereof;

(d) by deleting paragraph 13 and replacing it by the following:

"13. At the end of any business day, the Licensee shall not hold more than three (3) banking days' gross purchase of foreign currency notes and coins (cash), but this limit shall not apply to the holding of financial instruments";

(e) in paragraph 20, by substituting the word "month" for the word "week" wherever occurring therein.

MADE by the Minister responsible for Exchange Control this 20th day of March, 2002.

(SAID W. MUSA) Minister of Finance, Minister responsible for Exchange Control

Printed in Belize by the Government Printer

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No. 31] Exchange Control Regulations 1

BELIZE:

STATUTORY INSTRUMENT

No. 31 of 2002

REGULATIONS made by the Minister responsible for exchange control, in exercise of the powers conferred upon him by section 3 of the Exchange Control Regulations Act, Chapter 52 of the Substantive Laws of Belize, Revised Edition 2000, and all other powers thereunto him enabling.

(Gazetted 23rd March, 2002.)

1. These Regulations may be cited as the

EXCHANGE CONTROL (AMENDMENT) REGULATIONS 2002,

and shall be read and construed as one with the Exchange Control Regulations which, as amended, are hereinafter referred to as the principal Regulations.

2. The Fifth Schedule to the principal Regulations is hereby amended by deleting paragraph 3 (e) thereof and substituting therefor the following:-

"(e) is financially sound and has capitalised a minimum of BZS150,000.00, provided that this requirement will be satisfied by showing that the applicant has unencumbered equity of the said amount".

Short title.

Sub. Leg. Vol. 1, 1991 Edn. Cap. 43 S.I. 182/2001

Amendment of the Fifth Schedule.