§ 36. Mr. Danceasked the Chancellor of the Exchequer why Statutory Instrument No. 438 of 1966 applied retrospectively to gold coins already in the ownership of collectors, and not only to gold coins purchased after 27th April, 1966, the date on which the Exchange Control (Gold Coins Exemption) Order, 1966, came into operation.
§ Mr. DiamondUnder the Exchange Control Act, 1947, the permission of the Treasury is required to hold gold coins. The Order did not apply retrospectively. It applies to coins held on the date it came into force, or subsequently.