Barclays Bank Ltd. v Arnold [1971] JJ 1937 (22 November 1971)
A general standing permission granted by the Treasury for certain types of transactions removes the requirement for specific permission under s.33(1) of the Exchange Control Act 1947 for those transactions.
- Citation
- [1971] JJ 1937
- Parties
- Applicant: Barclays Bank Ltd.; Respondent: Arnold
- Jurisdiction
- Jersey
- Judgment Date
- 22 November 1971
- Procedural Posture
- Civil / Judgment
- Outcome
- application allowed
- Legal Topics
- Treasury Permission, Exchange Control Act 1947, General Standing Permission, Export Sales, Scheduled Territories
Case Brief
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Parties
Barclays Bank Ltd.
Applicant
Arnold
Respondent
Procedural Posture
Civil / Judgment
Legal Issues
- 1 Whether specific Treasury permission is required for a transaction under the Exchange Control Act 1947, s.33(1) when a general standing permission exists for transactions of that nature.
Ratio Decidendi
A general standing permission granted by the Treasury for certain types of transactions removes the requirement for specific permission under s.33(1) of the Exchange Control Act 1947 for those transactions.
Court Disposition
application allowed
Orders
- Specific Treasury permission not required where general standing permission exists for the transaction type.
Full Case Text
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