Exchange Control Circular No. 16/2011
Circular Reference: Exchange Control Circular No. 16/2011
Circular Date: 25 October 2011
Circular Status: Withdrawn (refer to Exchange Control Circular No. 1/2012)
Amendments to the Exchange Control Rulings
Authorised Dealers are advised of the following amendments to the Exchange Control Rulings:
Section B.1(E)(ii)
The limit of “33 1/3 per cent” has been increased to “50 per cent”.
Section B.4(E)(i)(b), (c) and (g)
The limit of “R10 000” has been increased to “R25,000”.
Section B.4(E)(iii)(c)
The limit of “Rand 10 million” has been increased to “Rand 20 million”.
Section B.11(B) and (C)
The limit of “R10,000” has been increased to “R 25,000”.
Section B.14(S)
The limit of “R50,000” has been increased to “R100,000”.
Section B.14(Z)
The limit of “R50,000” has been increased to “R100,000”.
Section B.15
A new subsection (G) has been added as follows:
“(G) EXTENSION OF GUARANTEES
Authorised Dealers may, where applicable, approve the extension of the guarantees authorised in (A) to (F) above as well as guarantees previously approved by the Financial Surveillance Department.”
Section F.1(C)
The limit of “R10,000” has been increased to “R25,000”.
Replacement pages of the Exchange Control Rulings incorporating the relevant amendments are attached hereto.
Deputy General Manager