Common use of Exchange Control Reporting Clause in Contracts

Exchange Control Reporting. Exchange control reporting is required for cash transactions exceeding A$10,000 and international fund transfers. The Australian bank assisting with the transaction will file the report. If there is no Australian bank involved in the transfer, Participant will be required to file the report.

Exchange Control Reporting. Exchange control reporting is required for cash transactions exceeding A$10,000 and international fund transfers. The Australian bank assisting with the transaction transactions will file the reportreport for the Participant. If there is no Australian bank involved in the transfer, the Participant will be required have to file the reportreport him or herself.