Exchange Control Act · s 35

Suggest a correction

Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.

What is wrong?Wrong or mistyped wordsWrong structure or numberingWrong title or detailsText that appears twice

What should change, and whyUp to 2,000 characters.The text as it should read (optional)Edit the text above. Up to 20,000 characters.Where you checked it (optional)A link to the official version, if you have one.

The text as we hold it

Open the official text

s 35Blocked

Where -

accounts

(a)

under any provision contained in Part III, the permission of the Controller is required for the making of a payment or the placing of any sum to

the credit of any person resident outside the sche-duled territories; or

(b)

any payment falls to be made by an autho-rised dealer on the sale of any gold or specified currency by any foreign company within the mean-ing of subsection ( 1) of section 33, being a sale made to comply with any requirement notified under that subsection;

Exchange Control the Controller may direct that the sum payable or to be credited shall be paid or credited only to a blocked account as defined in the Third Schedule, and, where such a direc-tion is given, the provisions of the said Schedule shall have effect in relation to the payment or crediting of the sum.