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Exchange Control Circular No. 25/2011
Circular Reference: Exchange Control Circular No. 25/2011
Circular Date: 23 December 2011
Circular Status: Withdrawn (refer to Exchange Control Circular No. 1/2012)
Amendment to the Exchange Control Rulings
Authorised Dealers are advised of the following amendments to the Exchange Control Rulings:
Section B.4(A)(i)
A new subsection (h) has been added as follows:
“(h) Foreign capital allowance — see subsection “(L)” below.”
Section B.4
A new subsection “(L)” has been added as follows:
“(L) FOREIGN CAPITAL ALLOWANCE
Authorised Dealers may allow residents (natural persons) to transfer funds abroad for investment purposes, within the limit specified in A(i) above, subject to the provisions of Section B.2(B)(i)(b) of the Rulings. ADLA’s may not accord this allowance.”
Replacement pages of the Exchange Control Rulings incorporating the relevant amendments are attached hereto.
Deputy General Manager