2
3.
As in previous years, all swing transfers are subject to the following conditions:-
4.
(a)
yardage secured through swing may not subsequently be transferred to another company either temporarily or on a permanent basis;
(b) for the purpose of future quota calculations, shipments
made against a swing transfer will be counted as past performance in the category from which quota has been swung out, and this performance will be credited to the company from whose quota the necessary surrender of yardage for that swing transfer has been made;
(c) all export licences applied for against an approved
swing transfer must quote the reference number given in the top right-hand corner of the swing form.
Any licence not quoting this number will be debited against the company's ordinary quota; and
(d) the Department undertakes no obligation to inform a
company which has supplied yardage to another company under the swing scheme of the receiving company's performance against a swing transfer.
Such information
may however be obtained on written request to the Department.
The amount required to be surrendered in respect of swings and swing transfers for apparel categories should be calculated in accordance with the conversion factors shown at Appendices I and III. An example of the conversion calculation is shown at Appendix IV.
5.
Applications for swing may be made with effect from 16th December, 1968 on swing forms, specimen copies of which are attached at Appendices V and VI. Applicants should complete three copies of Form 'B' if the intention is to surrender the required yardage from their own quota and six copies of Form 'C' if the surrender of yardage is to be made by some other company. In the latter case, the applicant company and the one supplying the necessary yardage must make a joint application for the transfer of the necessary yardage and submit it in the first instance to the Stamp Duty Office, Inland Revenue Department. Application forms may be obtained from the Textiles Licensing Office of the Department at 2nd floor, Fire Brigade Building, Hong Kong.
6.
Should you require further information, please contact either of the following officers:-
Mr. D. Chan
Assistant Trade Officer
Tel. No. H-447888
(Textiles)
Mr. K. C. Tang
Industry Assistant
Tel. No. H-445666
(Textiles)
DC/WD/19
Yours faithfully,
ди
(D. Chan)
for Director of Commerce and Industry.