- 1
- The Designated Airline(s) of each Contracting Party shall be entitled to transfer without prior approval, from the Territory of sale to their home Territory the excess, in the Territory of sale, of receipts over expenditure. Included in such net transfer shall be revenues from sales, made directly or through agents, of air transport services, and ancillary or supplemental services, and normal commercial interest earned on such revenues while on deposit awaiting transfer.
- On a basis of reciprocity, the conversion and remittance of such revenues shall be permitted without restriction at the rate of exchange applicable to current transactions which is in effect at the time such revenues are presented for conversion and remittance, and shall not be subject to any charges except those normally made by banks for carrying out such conversion and remittance.
- 2
- The Designated Airline(s) of each Contracting Party shall be entitled to effect the actual transfer on receipt of approval.
- 3
- Such transfers will be made under the applicable legislation of the Contracting Party concerned.
