Commonwealth Numbered Acts

LAW AND JUSTICE LEGISLATION AMENDMENT ACT 1997 No. 34 of 1997 - SCHEDULE 9

Schedule 9-Amendment of the Foreign Judgments Act 1991 1 Subsection 6(11)
Omit "Where the amount", substitute "Subject to subsection (12), if the
amount". 2 Paragraph 6(11)(b)
Omit "the day of the application for registration", substitute "on the second
business day (the conversion day) before the day on which the application for
registration is made". 3 After subsection 6(11)
Insert:

(11A) For the purposes of paragraph (11)(b), the rate of exchange prevailing
on the conversion day referred to in that paragraph is the average of the
rates at which Australian dollars may be bought in the currency in which the
judgment is expressed at:

   (a)  11 am; or

   (b)  if another time is prescribed for the purposes of this subsection-that
        other time; on that day from 3 authorised foreign exchange dealers
        selected by the judgment creditor.

(11B) The reference in paragraph (11)(b) to a business day is a reference to a
day on which the authorised foreign exchange dealers selected by the judgment
creditor as mentioned in subsection (11A) publish rates at which Australian
dollars may be bought in the currency in which the judgment is expressed. 4
Paragraph 6(15)(a)
After "court", insert "and the costs of obtaining from foreign exchange
dealers evidence of the rates at which Australian dollars may be bought in the
currency in which the judgment is expressed". 5 At the end of section 6 Add:

(16) In this section:
authorised foreign exchange dealer means a person authorised by a general
authority issued by the Reserve Bank of Australia under regulation 38A of the
Banking (Foreign Exchange) Regulations to buy and sell foreign currency.