TNAG-2836-FCO40-4089-Air-Service-Agreements-between-Hong-Kong-and-South-Korea-1993 — Page 25

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ARTICLE 11

Conversion and Remittance of Revenue

(1) The designated airlines of Hong Kong shall have the right to convert and remit to Hong Kong from the Republic of Korea on demand local revenues in excess of sums locally disbursed. The designated airlines of the Republic of Korea shall have the right to convert and remit to the Republic of Korea from Hong Kong

on demand local revenues in excess of

sums locally disbursed.

(2)

The conversion and remittance of such revenues shall be

permitted without restriction at the rate of exchange applicable to current transactions which is in effect at the

time such revenues

are presented for conversion and remittance, and shall not be subject to any charges except those normally made by banks for carrying out such conversion and remittance.