Blocked Rand definition
Blocked Rand means, for purposes of the Exchange Control Regulations, funds which may not be remitted out of South Africa or paid into a bank account outside South Africa;
Blocked Rand means those funds which, in accordance with the Exchange Control Regulations, may not be remitted out of South Africa or paid into a non-South African resident’s bank account and may not be used for the purchase of, or subscription for, South African Notes.
Blocked Rand means funds which may not be remitted out of South Africa or paid into a non-South
Examples of Blocked Rand in a sentence
Any payments of principal due to a Noteholder who is an emigrant from the Common Monetary Area will be deposited into such emigrant Noteholder’s Blocked Rand account, as maintained by an authorised foreign exchange dealer.
Any payments of interest and/or principal due to a Noteholder who is an emigrant from the Common Monetary Area will be deposited into such emigrant Noteholder’s Blocked Rand account, as maintained by an authorised foreign exchange dealer.
More Definitions of Blocked Rand
Blocked Rand means those funds which, in terms of the Exchange Control Regulations, may not be remitted out of South Africa or paid into a non-South African resident's bank account.
Blocked Rand means funds which may not be remitted out of South Africa or paid into a Non-Resident’s bank account;