Exchange Control Act, 1954

Payment of capital moneys outside the scheduled territories.

12.—Except with the permission of the Minister, a person shall not do any act with intent to secure that—

(a) capital moneys payable on a security registered in the scheduled territories are paid outside the scheduled territories, or

(b) where the certificate of title to a security is in the scheduled territories, capital moneys payable on the security are paid outside the scheduled territories without production of the certificate to the person making the payment.