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December 19th, 1939

The Hon. Marriner S. Eccles,
Chairman of the Board of Governors,
Federal Reserve System,
Washington*
Dear Sir,
For your information I am enclosing
herewith copies of further amendments to our Foreign
Exchange Control Order and Regulations, as published
in the Canada Gazette of November 30th and December
5th respectively*
I am,
Dear Sir,
Yours faithfully,

Deputy Governor

Enclosure




EXTRA

THE CANADA GAZETTE
LA GAZETTE DU CANADA
OTTAWA, THURSDAY, NOVEMBER 30, 1939

OTTAWA, JEUDI, 30 NOVEMBRE 1939

ORDER IN COUNCIL

ARRETE EN CONSEIL

[3878]

[3878]

AT THE GOVERNMENT HOUSE AT OTTAWA

HOTEL DU GOUVERNEMENT A OTTAWA

Tuesday, the 28th day of November, 1939.

Mardi, le 28e jour de novembre 1939.

PRESENT :

PRESENT :

HIS EXCELLENCY THE GOVERNOR
GENERAL IN COUNCIL

SON EXCELLENCE LE GOUVERNEUR
GENERAL EN CONSEIL

TLTIS Excellency the Governor General in Council
-*••*• on the recommendation of the Minister of
Finance and under and by virtue of the provisions
of the War Measures Act, is pleased to amend
Order in Council P.C. 3799, dated November 22,
1939, and it is hereby amended by striking out the
words "of subsection (2)" where they appear in
paragraph 1 of the said Order in Council, so that
the said paragraph as amended shall read as follows:

T L plait a Son Excellence le Gouvmieur general
•*• en conseil, a la recommandation du ministre des
Finances et sous le regime et en vetrtu des dispositions de la Loi des mesures de guerre, de modifier
Farrete en conseil C.P. 3799 du 22 novembre 1939,
qui est, par les presentes, modifie en y bifl'a&t les
mots "du paragraphe (2)" la ou ils se trouvent dans
Falinea 1 dudit arrete en conseil, pour que ledit
alineia ainsi modifie se lise comme suit:

" 1 . Paragraph (k) of Section 2 of the said
Order is amended by adding thereto the following:
" Any person who was a resident on September
15th, 1939, or at any subsequent time shall thereafter be deemed to be a resident for the purposes of this Order unless the Board makes a
finding to the contrary/'

"1. Est modifie Falinea (fc) de Particle 2 de
ladite ordonnance par Faddition de oe qui suit:
"Toute personne qui etait un resident le 15
septembre 1939 ou a une epoque subsequente, est
des lors neputee un resident aux fins de la presente ordonnance, a moins que la Commission
ne rende une decision contraire."

H. W. LOTHROP,
Assistant Clerk of the Privy Council.

Le grefiier adjoint du Conseil prive,
H. W. LOTHROP.

OTTAWA—Printed by J. 0. PATENAUDE, I.S.O., Printer OTTAWA—J.-O. Patenaude, O.S.I., Imprimeur de Sa
Tres Excellente Majeste le Roi.
to the King's Most Excellent Majesty.




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T H E CANADA GAZETTE
LA GAZETTE DU CANADA
OTTAWA, TUESDAY, DECEMBER 5, 1939
GOVERNMENT NOTICE
REGULATION OF THE FOREIGN EXCHANGE
CONTROL BOARD
CERTIFIED Extract from the Minutes of a Meeting
of the Foreign Exchange Control Board, held at
Ottawa, the 1st day of December, A.D. 1939.
N motion duly made and seconded, the following
Regulation numbered 43 was passed and enacted :
43. (a) Any resident who owns or controls property physically situate outside Canada which produces revenue in a foreign currency and which gives
rise to foreign currency expenses may apply to the
Board for permission to operate a foreign currency
bank account on the understanding that, if such
application is approved,
(i> All revenue from such property will be deposited in such account,
(ii) No withdrawals shall be made from such
account except for the purpose of meeting
expenses of the resident arising by reason
of the ownership or control of such property,
(iii) Any net revenue from such property will be
declared on Form C and offered for sale to




the Board at intervals to be stated in the
permit to operate such account, and
(iv) A copy of the statement of such account
and other relevant details will be submitted
to the Board at the end of each six months'
period after the opening of such account or
at any other time if required by the Board.
(b) The application to operate such a foreign
currency bank account shall give full particulars of
the property (including an estimate of its current
value) and of the revenue and expenses relating
thereto. If permission is granted, the applicant will
be given a registration number bearing the prefix
FP. The permit will relate only to revenue and
expenses as set forth in the application.
(c) If the revenue from such property is insufficient to meet the expenses thereof, the applicant
may deposit in and disburse from such foreign currency bank account foreign exchange purchased
from the Board for such purpose.
Certified to be a true copy.
D. GORDON,
Chairman (Alternate).

OTTAWA: Printed by Joseph Oscar Patenaude, I.S.O., Printer to the King's Most Excellent Majesty.