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Part IV Exchange Controls, Exchange Rates, and Sanctions, Introduction

Charles Proctor, Dr Caroline Kleiner, Dr Florian Mohs

From: Mann on the Legal Aspect of Money (7th Edition)

Charles Proctor

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 27 June 2022

Intro.IV.01 Exchange control may be described as a system of open restrictions on payments or transfers to or for the benefit of persons resident in another country, which is imposed to protect the financial resources of the country and which is thus primarily concerned with the outward movement of payments or transfers.1 A precise definition of exchange control does, however, only assume importance in specific contexts,2 although it may be said that a genuine system of exchange controls is designed for the protection of the economy of the State concerned. In...
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