Regulatory Alerts1987-01-01
Exchange Control Order, 1987
Issued by the Authority of His Majesty the King of Lesotho, this Order consolidates and amends legislation governing dealings in gold, goods, currency, and securities. It empowers the Finance Minister to enact implementing regulations, direct the Central Bank, and block or forfeit assets involved in exchange control offences while granting aggrieved parties High Court review rights. The Order establishes summary admission of guilt procedures for contraventions under M10,000, mandates that recovered penalties be deposited into the Central Bank, and repeals the 1975 Exchange Control Act while preserving existing lawful directives.
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