Judgment[1987] KECA 21
Case law
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Division and case type: CivilCivil Appeal
…He referred to Exchange Control Administration Notices and instructions issued by the Assistant Secretary to the Treasury and in particular to clause 1 (b) of Exchange Control Circular No 32 which reads: “(b) Cash balances…
…The exemption granted by Exchange Control Circular No. 32 is merely to regularise the transfer of money for investment in India or in any sterling area prior to 11th June 1965.…