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2004-02-13

Exchange Control Regulations Act Revised Edition 2003

The Government of Belize issued this revised edition of Chapter 52 to consolidate the Exchange Control Regulations Act as of May 31, 2003. The legislation empowers the Minister to create regulations governing currency, gold, securities, and property transfers, while authorizing an appointed Controller to administer and enforce these rules. It establishes strict penalties for non-compliance, including fines up to ten thousand dollars or imprisonment, with enhanced punishments for repeat offenses.

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BELIZE EXCHANGE CONTROL REGULATIONS ACT CHAPTER 52 REVISED EDITION 2003 SHOWING THE SUBSTANTIVE LAWS AS AT 31ST MAY, 2003 This is a revised edition of the Substantive Laws, prepared by the Law Revision Commissioner under the authority of the Law Revision Act, Chapter 3 of the Substantive Laws of Belize, Revised Edition 2000. This edition contains a consolidation of the following laws - Page ARRANGEMENT OF SECTIONS 3 EXCHANGE CONTROL REGULATIONS ACT 3 Amendments in force as at 31st May, 2003.

BELIZE EXCHANGE CONTROL REGULATIONS ACT CHAPTER 52 REVISED EDITION 2003 SHOWING THE SUBSTANTIVE LAWS AS AT 31ST MAY, 2003 This is a revised edition of the Substantive Laws, prepared by the Law Revision Commissioner under the authority of the Law Revision Act, Chapter 3 of the Substantive Laws of Belize, Revised Edition 2000. This edition contains a consolidation of the following laws - Page ARRANGEMENT OF SECTIONS 3 EXCHANGE CONTROL REGULATIONS ACT 3 Amendments in force as at 31st May, 2003.

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2003 Printed by the Government Printer, No. 1 Power Lane, Belmopan, by the authority of the Government of Belize. [CAP. 52 3 [ ] Exchange Control Regulations CHAPTER 52 EXCHANGE CONTROL REGULATIONS ARRANGEMENT OF SECTIONS

  1. Short title.
  2. Interpretation.
  3. Minister may make Exchange Control Regulations.
  4. Exemption.
  5. Controller.
  6. Penalties. CHAPTER 52 EXCHANGE CONTROL REGULATIONS [30th December, 1972] [18th May, 1992]
  7. This Act may be cited as the Exchange Control Regulations Act.
  8. In this Act, unless the context otherwise requires:- “Minister” means the Minister of the Government for the time being responsible for exchange control; 24 of 1972. 5 of 1992. 44 of 2001. Short title. Interpretation. CAP. 43, R.E. 1980-1990.

CAP. 52] THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2003 Printed by the Government Printer, No. 1 Power Lane, Belmopan, by the authority of the Government of Belize. 4 [ ] Exchange Control Regulations “Controller” means the person so appointed by the Minister by a notice published in the Gazette in pursuance of section 5. 3. (1) The Minister may by an Order published in the Gazette make such regulations (hereinafter referred to as “exchange control regulations”) as he may deem expedient in respect of any matter or thing connected with ex￾change control. (2) Without prejudice to the generality of the powers conferred by subsection (1), exchange control regulations may be made to confer powers, and impose duties and restrictions, in relation to gold, currency, payments, securities, debts, and the import, export, transfer and settlement of property, and for purposes connected with the matters mentioned in this subsection. 4. The Minister may by an Order published in the Gazette exempt any person or body of persons from the provisions of the exchange control regu￾lations. 5. (1) The Minister may appoint a person to be the Controller for the purposes of the exchange control regulations. (2) The Controller shall administer and enforce the exchange control regulations, and perform the duties thereunder, and shall have the power to make and issue such orders and directions as may be necessary to implement the provisions of the exchange control regulations. (3) The orders of the Controller shall be published in the Gazette. 6. (1) Every person who fails to comply with or contravenes any of the regulations made under this Act shall be guilty of an offence and shall be liable on summary conviction to a fine not exceeding ten thousand dollars or to imprisonment for a term not exceeding twelve months, or to both such fine and imprisonment: Minister may make exchange control regulations. Exemption. Penalties. 44 of 2001. Controller.

THE SUBSTANTIVE LAWS OF BELIZE REVISED EDITION 2003 Printed by the Government Printer, No. 1 Power Lane, Belmopan, by the authority of the Government of Belize. [CAP. 52 5 [ ] Exchange Control Regulations Provided that the punishment for a second offence under this section shall not be less than a fine of five thousand dollars or a term of imprisonment of not less than six months and the punishment for a third or subsequent offence under this section shall not be less than a term of six months imprisonment. (2) Where the offence is concerned with any currency, security, payment, gold, goods or any other property, and does not consist only of a failure to give information or to produce books, accounts or other documents with respect thereto when required to do so under any exchange control regulations, a larger fine may be imposed not exceeding three times the amount or value of the currency, security, payment, gold, goods, or property.

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