EXCHANGE CONTROL REGULATIONS. You and the Company agree to comply jointly and severally with all exchange control or similar regulations from time to time in force which may be affected by use of the Corporate Card and to indemnify us in respect of any loss, claim or expense incurred by us as a result of non-compliance with any such regulations.
EXCHANGE CONTROL REGULATIONS. You and the Company agree
EXCHANGE CONTROL REGULATIONS. You and the Company agree to comply with all exchange control or similar regulations in force from time to time, which may apply to the use of any Card, and to indemnify us in respect of any loss, claim or expense incurred by us as a result of non-compliance with any such regulations. We may provide information regarding Charges on your Card Account made outside of Thailand to the Thai government banking authorities upon their request.
EXCHANGE CONTROL REGULATIONS. 20.1 The Cardmember shall ensure that he/she uses the Card(s) at all times in accordance with the provisions of the Exchange Control Act and operating instructions made thereunder.
20.2 The Cardmember shall not use the Card(s) to purchase/import goods in commercial quantities and/or for capital transactions.
20.3 The Cardmember shall surrender the Card(s) to the Bank in the event the Cardmember migrates, leaves Sri Lanka for employment overseas or is deemed ‘non-resident’ as per definitions of Exchange Control Regulations in force at that time.
20.4 The Bank will comply with reporting requirements of the Controller of Exchange or any other regulatory authorities as stipulated from time to time.
20.5 The Bank may on its own accord cancel the Card(s) without notice to the Cardmember(s) in the event the Bank has any reason whatsoever to believe that there has been a violation of the Exchange Control Regulations in force.
EXCHANGE CONTROL REGULATIONS. Currency and Exchanges Act customs means Customs and Excise, a division of SARS. foreign exchange legislation SARB means the Financial Surveillance Department of the South African Reserve Bank, responsible for the administration of exchange control in terms of delegation from the South African Treasury.
EXCHANGE CONTROL REGULATIONS. 14.1 The Cardholder shall ensure that he/she uses the Card at all times in accordance with the provisions of the Foreign Exchange Act and Directions, regulations, operating Instructions of the Central bank of Sri Lanka and other regulatory bodies there under (“Exchange Control Act”).
14.2 The Cardholder shall use the Card overseas only for personal use related to Travel, Accommodation, Medical, Living, payment of registration fees, examination fees and annual subscription fees of a personal nature payable to a foreign body or academic institution, payment for purchase of goods abroad for personal use, insurance premium only for travel and health insurance of personal nature and/or for transactions processed via e-mail, internet, telephone expenses which are billed in foreign currency for personal expenses such as travel expenses, hotel charges, incidental expenses, medical expenses and purchase of goods for personal use. The Card shall not be used for payment in respect of capital transactions.
14.3 The Card shall not be used for payment in respect of capital transactions, dealing in foreign exchange (Forex Trading), payment related to virtual currency transactions, payment related to betting, gaming and gambling activities outside Sri Lanka and the purchase of import of goods in commercial quantities. Payments for import of goods for personal use are restricted to a maximum as is stated by the regulator from time to time on Cost Insurance Freight (C.I.F) basis per consignment. “Personal use” means for the use of the holder of the card, his spouse and children and parents and does not include the usage for any commercial purpose.
EXCHANGE CONTROL REGULATIONS. You and the Company agree to comply jointly and severally with all exchange control or similar regulations from time to time in force which may be affected by use of the Corporate Card and to indemnify us in respect of any loss, claim or expense incurred by us as a result of non- compliance with any such regulations.
EXCHANGE CONTROL REGULATIONS. 19.1 The Cardholder shall ensure that he/she uses the Card at all times in accordance with the provisions of the Foreign Exchange Act No 12 of 2017, and any other gazettes published from time to time and operating instructions made thereunder.
19.2 The Bank will comply with reporting requirements of the Controller of Exchange or any other regulatory authorities as stipulated from time to time.
19.3 The Bank may on its own accord cancel the Card(s) without notice to the Cardholder(s) in the event the Bank has any reason whatsoever to believe that there has been a violation of the Exchange Control Regulations in force.
19.4 The Cardholder shall only use the Card overseas for personal use related to travel, accommodation, medical, living, payment of registration fees, examination fees and annual subscription fees of a personal nature payable to a foreign body or academic institution, payment for purchase of goods abroad for personal use, insurance premium only for travel and health insurance of personal nature and/or for transactions processed via e-mail, internet, telephone which are billed in foreign currency for personal expenses such as travel expenses, hotel charges, incidental expenses, medical expenses and purchase of goods for personal use. The Card shall not be used for payment in respect of capital transactions and the purchase of import of goods in commercial quantities. Payments for import of goods for personal use is restricted to a maximum as is stated by the regulator from time to time on Cost Insurance Freight (C.I.F) basis per consignment. “Personal use” means for the use of the holder of the Card, his spouse and children and parents and does not include use for any commercial purpose.
EXCHANGE CONTROL REGULATIONS the Exchange Control Regulations, 1961, promulgated pursuant to the Currency and Xxxxxxxxx Xxx, 0000;
EXCHANGE CONTROL REGULATIONS. 17.1 The Cardholder shall ensure that he/she uses the Card at all times in accordance with the provisions of the Exchange Control Act and operating Instructions and Regulations made there under(“Exchange Control Act”).
17.2 The Cardholder shall not use the card(s) to purchase/import goods in commercial quantities and for capital transaction. The Cardholder shall surrender the Card(s) to the Bank in the event the Cardholder migrates, leaves Sri Lanka for employment overseas or is deemed „non-resident‟ as per the definitions of Exchange Control Act currently in force or in force at that time. However, if the Cardholder wishes to continue the Credit Card, he/she should ensure that the monthly card payments are routed through a NRFC account maintained with Commercial Bank, as per Central Bank Exchange Control regulations,(gazette notification no 1411/5 dated 19th September 2005)
17.3 The Card should not be used for making payment in foreign exchange for purposes other than the Cardholders personal expenses such as hotel charges, incidental expenses, medical expenses, travel expenses and purchasing of goods for personal use.
17.4 If the Card is used for purposes other than referred to in 18.3. the Cardholders would contravene Exchange Control provisions under Section 5(1) and 48 of the Exchange Control Act (ECA) and will be liable for a penalty to be imposed of provisions under section 51 and 52 of ECA.
17.5 The Bank will comply with the reporting requirements of the Controller of Exchange or any other regulatory authorities as stipulated from time to time.
17.6 The Bank may on its own accord cancel the Card(s) without notice to the Cardholder(s) in the event the Bank has any reason whatsoever to believe that there has been a violation of the Exchange Control Regulations currently in or in force at that time.
