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Exchange Control Circular No. 21/2014
Circular Reference: Exchange Control Circular No. 21/2014
Circular Date: 13 June 2014
Circular Status: Withdrawn
Amendment to the Exchange Control Rulings
Flowing from representations made, Authorised Dealers are advised of the following amendment to the Exchange Control Rulings:
Section I.3(B)(i)(b)(cc)
The entire sub-section has been deleted and substituted with the following:
“the Authorised Dealer extending these facilities ensures that at the time of draw down, the foreign currency amount of the drawing is converted into Rand and the relevant exchange control requirements, and the observance of the 30 day rule, are complied with. The reporting, in terms of the Reporting System, must take place upon the receipt of the export proceeds from abroad;”
A replacement page of the Exchange Control Rulings incorporating the relevant amendment is attached hereto.
Deputy General Manager