FLEXIBILITY PROVISIONS
(A)
7.
CARRYOVER
THERE WILL BE NO CARRYOVER OF UNUSED QUOTA FROM 1977 INTO 1978 IN SUCCEEDING YEARS, CARRYOVER WILL BE PERMITTED UP TO
5 PERCENT OF THE QUANTITATIVE LIMITS FOR THE AGREEMENT YEAR IN QUESTION.
(B) ANTICIPATION
8. IN ANY AGREEMENT YEAR, ANTICIPATION AGAINST THE QUANTITATIVE LIMITS ESTABLISHED FOR THE FOLLOWING AGREEMENT YEAR WILL BE PERMITTED FOR EACH CATEGORY OF PRODUCTS UP TO 5 PERCENT OF THE QUANTITATIVE LIMITS FOR THE CURRENT AGREEMENT YEAR.
(C) SWING (PROVISION WHEREBY A SPECIFIC LIMIT MAY BE INCREASED
PROVIDED AN EQUIVALENT AMOUNT IS DEDUCTED FROM ANOTHER SPECIFIC LIMIT)
9.
THE FOLLOWING PROVISIONS APPLY IN RESPECT OF SWING WITHIN GROUP I: -
10.
A) SWING INTO CATEGORY 1 (COTTON YARN):
3 PERCENT OF SWING HAS ALREADY BEEN INCORPORATED INTO THE RESTRAINT LIMIT. THAT IS TO SAY, ONLY SWING OUT FROM CATEGORY 1 WILL BE PERMITTED.
(B) SWING INTO CATEGORY 2 (COTTON FABRICS):
3 PERCENT BUT ONLY FROM CATEGORY 1 OR 3.
(C) SWING INTO CATEGORY 3 (SYNTHETIC FABRICS):
3 PERCENT BUT ONLY FROM CATEGORY 1 OR 2.
(0) SWING INTO CATEGORY 4 (KNITTED SHIRTS AND 5 T-SHIRTS), CATEGORY 5 (PULLOVERS), CATEGORY 6 (WOVEN TROUSERS AND SHORTS), CATEGORY 7 (WOVEN AND KNITTED BLOUSES), OR CATEGORY 8 (WOVEN SHIRTS);
¡UP TO 3 PERCENT BUT SOURCE OF SING MUST BE WITHIN
THESE CATEGORIES.
SWING INTO ANY CATEGORY IN GROUPS 11, 111 OR IV WILL BE PERMITTED FROM ANY CATEGORY OR CATEGORIES IN GROUPS I, II, III, OR IV UP TO 5 PERCENT OF THE QUANTITATIVE LIMIT FOR THE CATEGORY INTO WHICH THE SWING IS MADE. FOR THE PURPOSE OF EFFECTING SWING BETWEEN CATEGORIES, THE CONVERSION FACTORS SET OUT IN ENCLOSURE 5 WILL APPLY.
EXPORT AUTHORISATION ARRANGEMENT
1
11. GOODS! COVERED BY THE AGREEMENT BUT NOT SUBJECT TO SPECIFIC LIMITS WILL BE SUBJECT TO AN EXPORT AUTHORISATION ARRANGEMENT.
12. UNDER THIS ARRANGEMENT, THE DEPARTMENT ISSUES EXPORT AUTHOR ISATIONS AGAINST EVIDENCE OF FIRM CONTRACTS. THE EXPORT AUTHOR ISATIONS SO ISSUED WILL BE VALID FOR EITHER THREE MONTHS OF SIX MONTHS AT THE REQUEST OF THE EXPORT AUTHORISATION APPLICANT. (THE DIFFERENCE BETWEEN 6-MONTH AND 3-MONTH EXPORT AUTHORISATIONS is THAT, IN! THE CASE OF THE FORMER, FAILURE TO UTILISE IN FULL THE QUANTITY AUTHORISED WILL RESULT IN A MANDATORY PENALTY BEING IMPOSED. IN THE FORM OF FORFEITURE OF ANY UNUSED CUANTITY AND DENIAL OF FURTHER EXPORT AUTHORISATIONS AND LICENCES FOR A
SPECIFIED PERIOD OF TIME, WHILE IN THE CASE OF THE LATTER, THE QUESTION OF WHETHER ANY PENALTY WILL BE IMPOSED IS LEFT TO BE DECIDED IN EACH CASE. THESE ARE HONG KONG ARRANGEMENTS AND NOT PROVISIONS OF THE AGREEMENT.)
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