Direction No. 1 - Terms of Reference

1 Directions for the Administration of Exchange Control Regulations (Exchange Control Regulations Act, Chapter 52, Revised Edition 2003) EXCHANGE CONTROL DIRECTION Number 1/ 2014 (Revised December 2014) TO: AUTHORISED DEALERS AND AUTHORISED DEPOSITARIES Terms of Reference Exchange Control Regulations, as provided for in the Exchange Control Regulations Chapter 52 Revised Edition of 2003 of the Laws of Belize and Gazette No. 8 of 1980 No. 146.

1. The Central Bank of Belize (the Central Bank) is appointed Controller under Section 5 of the Exchange Control Regulations Act 2003, and is charged with the administration of the Exchange Control Regulations.
2. These Directions are issued by the Central Bank under Section 5 of the Exchange Control Regulations Act 2003. The Exchange Control Directions serve to inform Authorised Dealers and Authorised Depositaries of their delegated authority, and to provide them with general Exchange Control information with which they may guide the public.
3. All previous instructions and directions on the same subjects should be treated as superseded or modified to the extent so covered.
4. Any person who fails to comply with or contravenes any of the provisions of the regulations made under the Exchange Control Regulations Act 2003 shall be guilty of

2 an offence and shall be liable on summary conviction to a fine or to imprisonment or to both as provided for under Section 6.

Controller of Foreign Exchange CENTRAL BANK OF BELIZE