Federal Court of Australia
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CATCHWORDS
APPEAL FROM THE ADMINISTRATIVE APPEALS TRIBUNAL -— Customs —- valuation of goods - goods paid for in Japanese Yen - forward exchange contracts entered into by applicant - principles to be applied in calculating the fair rate of exchange -
relevance of forward exchange contracts.
Customs Act 1901 (Cth) ss.154, 159, 1618
LNC (WHOLESALE) PTY LIMITED v. THE COLLECTOR OF CUSTOMS NSW G307 of 1987
Sweeney, Davies and Einfeld JJ. 22 January 1988 Sydney.
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28 JAN 1988
FEDERAL GouR AUSTRALIA! 6
PRINCIPAI REGISTRY
RECEIVED
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IN THE FEDERAL COURT OF AUSTRALIA NEW SOUTH WALES DISTRICT REGISTRY
GENERAL DIVISION
CORAM:
DATE:
PLACE:
No. G307 of 1987
eee
ON APPEAL FROM THE GENERAL ADMINISTRATIVE DIVISION OF THE ADMINISTRATIVE APPEALS
TRIBUNAL BETWEEN: LNC (WHOLESALE) PTY LIMITED Applicant AND: THE COLLECTOR. OF CUSTOMS Respondent
Sweeney, Davies and Einfeld JJ. 22 January 1988
Sydney
MINUTES OF ORDER
THE COURT ORDERS THAT:
1.
The appeal be dismissed.
The applicant pay the respondent's costs.
Settlement and entry of orders is dealt with in Order 36 of the Federal Court Rules.
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Royce cee
IN THE FEDERAL COURT OF AUSTRALIA
NEW SOUTH WALES DISTRICT REGISTRY No. G307 of 1987
GENERAL DIVISION
we
ON APPEAL FROM THE GENERAL ADMINISTRATIVE DIVISION OF THE ADMINISTRATIVE APPEALS
TRIBUNAL BETWEEN: LNC (WHOLESALE) PTY LIMITED
Applicant
AND: THE COLLECTOR OF CUSTOMS
Respondent
CORAM: Sweeney, Davies and Einfeld JJ. DATE: 22 January 1988 PLACE: Sydney
REASONS FOR JUDGMENT
Davies and Einfeld JJ: This is an appeal from a decision of
the Administrative Appeals Tribunal with respect to the rate of exchange to be adopted in the valuation of Subaru motor vehicles imported by LNC (Wholesale) Pty Limited ("LNC"). Certain of the motor vehicles were exported from Yokohama, Japan, by the vessel, Andes Highway, on 30 May 1986 and certain from the same port on the following day, 31 May 1986
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