- 1
- The designated airlines of the Contracting Parties shall be free to transfer 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.
- 2
- The designated airlines of the Contracting Parties shall receive approval for such transfer, within at most 30 days of application, into a freely convertable currency at the official rate of exchange for conversion of local currency. Such transfers shall be effected at the rate of exchange in accordance with the respective applicable national laws and regulations governing current payments, but where there is no official exchange rate such transfers shall be effected at the prevailing foreign exchange market rate for current payments.
- 3
- The designated airlines of the Contracting Parties shall be free to effect the actual transfer on receipt of approval as referred to in sub-article (2).
