Imports and exports regulation: freedom subject to authorisations, compliance obligations and regulator powers to restrict, exempt, or penalise. Exports and imports are permitted unless regulated or prohibited; restricted items require an Authorisation and may be subject to licence terms including quantity, actual user conditions, export obligations and minimum prices. The regulator may adopt procedures, grant exemptions or impose conditions for genuine hardship or public interest, and enforce compliance with the FT(D&R) Act, domestic standards and realisation requirements; breaches attract penalties and statutory action.