This Ordinance was repealed on 2004-11-13 by Foreign Exchange Act, 2004.
Exchange Control Act
- Commenced on 15 November 1951
- [This is the version of this document at 31 December 2000.]
- [Note: The version of the Act as at 31 December 2000 was revised and consolidated by the Law Reform Commission of Uganda. All subsequent amendments have been researched and applied by Laws.Africa for ULII.]
- [Repealed by Foreign Exchange Act, 2004 (Act 5 of 2004) on 13 November 2004]
Part I – Interpretation
1. General provisions as to interpretation
Part II – Gold and foreign currency
2. Dealings in gold and foreign currency
3. Surrender of gold and foreign currency
4. Bailees of gold and foreign currency
5. Travellers cheques, etc.
Part III – Payments
6. Payments in UgandaExcept with the permission of the Minister, no person shall do any of the following—
7. Payments outside Uganda
8. Compensation deals
Part IV – Securities
9. Issue of securities
10. Transfer of securities and coupons
11. Issue of bearer certificates and couponsExcept with the permission of the Minister, no person shall, in Uganda, and no person resident in Uganda shall, outside Uganda, issue any bearer certificate or coupon or so alter any document that it becomes a bearer certificate or coupon, and no person resident in the scheduled territories shall in Uganda do any act which involves, is in association with or is preparatory to such issue or alteration outside Uganda.
12. Substitution of securities and certificates outside Uganda
13. Payments of capital monies outside UgandaExcept with the permission of the Minister—
14. Duties of persons keeping registersExcept with the permission of the Minister, no person concerned with the keeping of any register in Uganda shall—
15. Additional provisions as to nominee holdings
16. Deposit of certificates of title
17. Additional provisions as to deposited certificates
18. Special provisions as to dealings in certain securities
19. Validation of certain transfers
20. Application of Part IV to secondary securities
21. Interpretation of Part IV
Part V – Import and export
22. Restrictions on import
23. General restrictions on export
24. Amount of goods to be exported and payments
25. Obligation to import, account for foreign currency received, etc.
Part VI – Miscellaneous
26. Duty to collect certain debts
27. Duty not to delay sale or importation of goods
28. Property obtained by infringement of Act
29. Provisions supplemental to preceding provisions of Part VI
30. Transfer of annuities, policies, etc.
Part VII – Supplemental
33. ExemptionsAny provision of this Act imposing any obligation or prohibition shall have effect subject to such exemptions as may be granted by the Minister by statutory order, and any such exemption may be either absolute or conditional.
34. Blocked accountsWhere—
35. Contracts, legal proceedings, etc.
36. Enforcement and administration
37. Application to GovernmentThis Act shall bind the Government and shall apply to transactions by a Government department or other person acting on behalf of the Government, and the competent authority shall not, by virtue of any contract made by it or on its behalf in relation to any securities, under any obligation to grant any permission under Part IV of this Act or any exemption from the provisions of that Part.
38. Minister’s ordersThe Minister may by statutory order make such transitional provisions as appear to the Minister necessary or expedient in consequence of the exercise by him or her of any other power to make orders under this Act.
39. Other powers
40. Financial provisionsAny expenses incurred under or by virtue of this Act by any Government department shall be paid out of monies provided by Parliament, and any sums received under or by virtue of this Act by any Government department shall be paid into the Consolidated Fund.
42. Persons leaving the scheduled territoriesWhere a person resident in Uganda leaves the scheduled territories, the Minister may, before, at or after the time he or she leaves the scheduled territories, direct that, for such period as may be specified in the direction, payments by him or her or on his or her behalf and to him or her or to his or her credit and transactions in or in relation to securities or secondary securities in which he or she is in any way concerned shall, whether or not he or she continues to be resident in Uganda, be subject to such restrictions as may be specified in the direction.
43. Determination of residence
Part VIII – Special provisions
44. Acquisition by Minister of certain securities
45. Power of Minister to direct sale of certain securitiesWhere the Minister has by a statutory order made under section 44(3) transferred to himself or herself securities in respect of which returns had before the date of the making of that order been made to the Minister under an order made under section 44(1), he or she may give directions to the owner of any security which would have been transferred to him or her under the order if such a return as aforesaid had been made before that date requiring him or her to take such steps as may be specified in the directions to sell, or to procure the sale of, the security.
46. Custody and disposition of documents of title to securitiesThe Minister may give such directions as to the custody and disposition of documents of title relating to securities, or relating to any class or description of securities specified in the direction, as appear to the Minister to be expedient.
47. Power of Minister to prohibit action on certain orders as to gold, etc.
History of this document
13 November 2004
Repealed by Foreign Exchange Act, 2004
31 December 2000 this version
15 November 1951