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;
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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.
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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.
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Examples of Blocked Rand in a sentence

  • Blocked Rand Blocked Rands may be used for the subscription for or purchase of Notes.

  • The relevant legislation relating to Blocked Rand is the Regulations promulgated under the Currency and Exchanges Act, 1933, as amended.

  • Table 2.1 The Basic Mechanics of the Blocked Rand System (Options Available to Non-Residents)1.

  • The relevant legislation relating to Blocked Rand is the Regulations promulgated under the Currency and Exchanges Act, 1933.

  • Any monies due in respect of Bonds to an emigrant holder will be deposited in the emigrant’s Blocked Rand account with the Authorised Dealer in foreign exchange controlling their blocked assets.

  • According to a study by BEUC’s member vzbv in 2022, budget management is named as the most important reason to use cash by 35% of consumers.4 This is in line with the findings of the recent ECB study on digital wallets5 where the focus group of underbanked consumers highlights the importance of a top-up functionality similar to prepaid cards.

  • 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.

  • Blocked Rand may be used by emigrants and non-residents of the common monetary area (comprising the Republics of South Africa and Namibia and the Kingdoms of Swaziland and Lesotho) for payment in terms of this application and reference should be made to paragraph 7.15 of the prospectus, which deals with South African Exchange Control Regulations.

  • Blocked Rand may be used by emigrants and non-residents of the Common Monetary Area for payment in terms of this and reference should be made to section 4, paragraph 2 of the Prospectus, which deals with the Exchange Control Regulations.

  • Blocked Rand may not be used by former residents of the common monetary area (comprising the Republics of South Africa and Namibia and the Kingdoms of Swaziland and Lesotho) for payment in terms of this offer and reference should be made to paragraph 6.6 of the Pre-Listing Statement which deals with South African Exchange Control Regulations.


More Definitions of Blocked Rand

Blocked Rand means funds which may not be remitted out of South Africa or paid into a Non-Resident’s bank account;
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Blocked Rand means funds which may not be remitted out of South Africa or paid into a non-South
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Related to Blocked Rand

  • Blocked Person is any Person: (a) listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (b) a Person owned or controlled by, or acting for or on behalf of, any Person that is listed in the annex to, or is otherwise subject to the provisions of, Executive Order No. 13224, (c) a Person with which any Lender is prohibited from dealing or otherwise engaging in any transaction by any Anti-Terrorism Law, (d) a Person that commits, threatens or conspires to commit or supports “terrorism” as defined in Executive Order No. 13224, or (e) a Person that is named a “specially designated national” or “blocked person” on the most current list published by OFAC or other similar list.

  • Blocked Account has the meaning provided in Section 6.13(a)(ii).

  • Blocked Account Bank means each bank with whom deposit accounts are maintained in which any funds of any of the Loan Parties from one or more DDAs are concentrated and with whom a Blocked Account Agreement has been, or is required to be, executed in accordance with the terms hereof.

  • Blocked Account Agreement means with respect to a deposit account established by a Loan Party, an agreement, in form and substance reasonably satisfactory to the Collateral Agent, establishing control (as defined in the UCC) of such account by the Collateral Agent and whereby the bank maintaining such account agrees, upon the occurrence and during the continuance of a Dominion Trigger Event, to comply only with the instructions originated by the Collateral Agent without the further consent of any Loan Party.

  • Specially Designated Nationals and Blocked Persons list maintained by the Office of Foreign Assets Control of the United States Department of the Treasury found at: xxxxx://xxx.xxxxxxxx.xxx/ofac/downloads/sdnlist.pdf;

  • Account Application or “Application” shall mean the application, as may be amended from time to time, by which this Agreement is established between the Depositor (or following the death of the Depositor, the Beneficiary) and the Custodian. The statements contained therein shall be incorporated into this Agreement.

  • SDN List shall have the meaning assigned to such term in Section 6.21.

  • multilateral trading facility (MTF means a multilateral system in the Union within the meaning of Article 2(1)(6) of Regulation[MiFIR].

  • Licensed financial institution means a financial institution issued a license under this act.

  • Foreign Asset Sale shall have the meaning provided in Section 5.2(i).