Minister may make Exchange Control Regulations

(1) The Minister may by an Order published in the Gazette make such regulations (hereinafter referred to as “exchange control regulations”) as he may deem expedient in respect of any matter or thing connected with exchange control. (2) Without prejudice to the generality of the powers conferred by subsection (1) of this section, exchange control regulations may be made to confer powers, and impose duties and restrictions, in relation to gold, currency, payments, securities, debts, and the import, export, transfer and settlement of property, and for purposes connected with the matters mentioned in this subsection. 5