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Conditions of Swings
(a) All swings are made only in respect of the current textile
year of the quota concerned. For the purpose of future quota calculation, shipments made against a swing will be counted as past performance in that group/category from which the yardage has been swung out.
(b) The yardage for a swing may be obtained from quota held
by the applicant company or quota secured through temporary transfer; in the latter case, prior consent of the original transferor company must be obtained. Anticipated quota, where applicable, may not be used for swing purposes.
(c) A company which has swung yardage under these arrangements
into a group/category may subsequently swing out yardage from its quota allocation in that same group/category, and
vice versa.
(d) The yardage swung into a group/category may not be swung out
or transferred out either on a temporary or permanent basis.
(e) On all export licence applications in respect of shipments
made ́against an approved swing the reference number given in the top right hand corner on the reverse of the form must be quoted. Any licence application made without this number will result in the shipment being debited against the company's ordinary quota.
(f) The Director of Commerce and Industry reserves the right
to refuse any application for swing without assigning any
reason.
WARNING
The Director of Commerce and Industry accepts no liability whatsoever in the event quota aystems are revised, amended or abolished altogether and that this causes a company which has obtained a swing increase to lose the transferred quantity. Similarly, the fact that swings have taken place will have no bearing on the administration of quota controls or in any way influence their revision, amendment or abolition when circumstances require.
For Official Use Only
Initials
"Swing-out" Quota Card adjusted
Swing-in Card opened
Swing Record entered
Letters of Approval issued by Registered Post