Exchange Control Circular No. 2/2017

Circular Reference: Exchange Control Circular No. 2/2017

Circular Date: 3 January 2017

Circular Status: Withdrawn (see Exchange Control Circular No. 1/2018)

Authorised Dealer in foreign exchange

Authorised Dealers in foreign exchange (Authorised Dealers) and Authorised Dealers in foreign exchange with limited authority (ADLAs) are referred to Exchange Control Circular No. 9/2013 dated 2013-03-28 and are advised that the appointment of The Hongkong and Shanghai Banking Corporation Limited – Johannesburg Branch as an Authorised Dealer has been cancelled with immediate effect. Accordingly, the attention of Authorised Dealers and ADLAs is drawn to Government Notice 955 of 2016 published in Government Gazette No. 40526 of 2016-12-30 in terms of which The Hongkong and Shanghai Banking Corporation Limited – Johannesburg Branch is deleted from the list of Authorised Dealers.

The attention of Authorised Dealers and ADLAs is, furthermore, drawn to Government Notice 956 of 2016 published in Government Gazette No. 40526 of 2016-12-30 in terms of which HSBC Bank plc – Johannesburg Branch is appointed as an Authorised Dealer.

In addition to the necessary amendments to the Orders and Rules under the Exchange Control Regulations, 1961, the name of The Hongkong and Shanghai Banking Corporation Limited – Johannesburg Branch is deleted from the list of Authorised Dealers and is being replaced with the name of HSBC Bank plc – Johannesburg Branch in Sections A.2(A) and A.2(B) of the Currency and Exchanges Manual for Authorised Dealers and Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority (Manuals), respectively, as well as the guideline documents for business entities and individuals (guideline documents).

The relevant Government Notices are attached hereto and the amended Manuals and guideline documents may be accessed on the SARB website: www.reservebank.co.za by following the links: Home > Regulation and supervision > Financial surveillance and exchange controls > Currency and exchanges documents.

Hongkong and Shanghai Banking Corporation Limited Johannesburg Branch
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