(a)
Conditions of Swing Transfers
All swing transfers are made only in respect of the current textile year of the quota concerned. For the purpose of future quota calculatio shipments made against a swing transfer will be counted as past performanc in that. group/category from which the yardage has been swung out and this performance will be credited to the company from whose quota the necessary surrender of yardage for the swing has been made.
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(b) The yardage for a swing transfer may be obtained from quota held by
another company in other group/catetory. Anticipated quota, where applicable, may not be used for swing transfer purposes.
(c) A company which has swung yardage under these arrangements into a
grep/ategory may rabrequently swing out yardage from its quota allocation in tout, sama peqp/category, and vice versa.
(a) The yardage seared through swing transfer may not be swung out or
transferred but either cu a temporary or permanent basis.
(e) n all export licence applications in respect of shipments made against
an appr ved 'swing transfer 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.
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(f) 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 nay, however, be obtained on written request to the Department.
(g) The Director of Comer e and industry reserves the right to refuse any
application for suing transfers without assigning any reason.
WARNING
The Director of Commerce am Endustry accepts no- liability. whatsoever in the event quota systems are revised, amended or abolished altogether am that this causes a company which has obtained a swing transfer 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 inflrence their revision, ainendiment or abolition when circumstances require.
i
For Official Use only
Transferor's Quota Card adjusted
Transferee's Quota Card opened
Swing Transfer record entered
Letter of Approval issued by
Registered-Fort....
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