Common Revenue Pool definition

Common Revenue Pool means the Pool referred to in Article 32;
View Source
Common Revenue Pool means the Pool referred to in Article 32; "Council" means the Council of Ministers established by Article 7;
View Source
Common Revenue Pool means the Pool referred to in Article 32; "Council" means the Council of Ministers established by Article 7; "customs duties" means customs duties as defined in the customs legislation in force in the respective Member States; "excise duties" means excise duties as defined in the excise legislation in force in the respective Member States; "financial year" means a period of 12 months commencing on the 1st of April; "Lesotho" means the area of the Kingdom of Lesotho; "Namibia" means the area of the Republic of Namibia; "SACU" means the Southern African Customs Union established by Article 3; "Secretariat" means the Secretariat of SACU established by Article 7; "South Africa" means the area of the Republic of South Africa; "Swaziland" means the area of the Kingdom of Swaziland; "Tariff Board" means the SACU Tariff Board established by Article 7; "Technical Liaison Committees" means Committees established by Article 7; "Tribunal" means an adhoc Tribunal established by Article 7; "WTO" means the World Trade Organisation.
View Source

Examples of Common Revenue Pool in a sentence

  • A Member State or SACU institution may be appointed by the Council to manage the Common Revenue Pool.

  • South Africa shall manage the Common Revenue Pool for a transitional period of two years from the entry into force of this Agreement.

  • The Secretariat shall be responsible for keeping a record of all transactions into and out of the Common Revenue Pool.

  • Any difference between the normal duty and the duty originally charged on these goods shall be paid into the Common Revenue Pool.

  • All transactions into and out of the Common Revenue Pool shall be reported to the Secretariat, and shall be subjected to regular audits.

  • All customs, excise and additional duties collected in the Common Customs Area shall be paid into the Common Revenue Pool in accordance with Article 33 within three (3) months of the end of the quarter of a financial year.

  • The Commission shall be responsible for overseeing the management of the Common Revenue Pool in accordance with the policy guidelines decided by the Council.

  • Payments shall be made on the first day of each quarter of a financial year to all Member States from the Common Revenue Pool in accordance with Articles 33 and 34.

  • Part 7 Revenue Sharing Payments shall be made on the first day of each quarter of a financial year to all Member States from the Common Revenue Pool in accordance with Articles 33 and 34.

  • The Secretariat is also responsible for keeping a record of all transactions into and out of the Common Revenue Pool and coordinates and assists in the negotiation of trade agreements with third parties.