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Overseas Exchange Fees Act 1975

COOK ISLANDS

OVERSEAS EXCHANGE FEES ACT

1975, No. 24

ANALYSIS

Title

1. Short Title
2. Interpretation
3. Establishment of fees
4. Method of payment of fees
5. Minimum fee payable
6. Fees to be public monies
7. Refunds
8. Collection of outstanding fees

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1975, No. 24

An Act to establish fees on the granting of import Licences and permits to remit funds overseas

(14 October 1975)

1. Short Title - This Act may be cited as the Overseas Exchange Fees Act 1975.

2. Interpretation - In this Act, unless the context otherwise requires –

"Approving Officer" means any officer who has been appointed an approving officer for the purpose of approving permits to remit funds overseas:

"Import Licence" means an import licence issued pursuant to the provisions of the Cook Islands Import Control Regulations 1944:

"Licensing Officer" means a licensing officer as defined in the Cook Islands Import Control Regulations 1944:

"Secretary" means the officer of the Public Service designated the Secretary of Trade, Industries, Labour and Commerce.

3. Establishment of fees - (1) There is hereby established a fee for the granting of import licences and permits to remit funds overseas.

(2) Subject to section 5 of this Act the amount of fees shall be one percent of the amount contained in the licence or permit.
[Amended Act 1978-79/17]

4. Method of payment of fees - The fees payable on any import licence or permit to remit funds overseas shall be payable to the licensing officer or approving officer at the time of issue of the import licence or approval of the permit to remit funds overseas.

5. Minimum fee payable - The minimum fee payable under this Act shall be one dollar and fifty cents for any import license or permit to remit funds overseas.
[Amended Act 1978-79/17]

6. Fees to be public monies - All fees established by this Act shall form part of the public revenues of the Cook Islands.

7. Refunds - No refunds shall be granted on any fees paid under this Act unless it is proven to the satisfaction of the Minister that they were paid in error
[Amended Act 1980/12]

8. Collection of outstanding fees - Any fee imposed by or pursuant to this Act may be collected as a debt due to Crown and may be sued for in the name of the Secretary.

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