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Regulation 4 Claims in foreign currency

Original text. Later amendments are not shown.

A creditor may state the amount of that creditor’s claim in a foreign currency for the purposes of section 22(6) or that section as applied by section 48(7) of the 1985 Act, where–

(a)

the claim is constituted by decree or other order made by a court ordering the debtor to pay to the creditor a sum expressed in a foreign currency; or, where it is not so constituted,

(b)

the claim arises from a contract or bill of exchange in terms of which payment is or may be required to be made by the debtor to the creditor in a foreign currencyf1.

Annotations

Footnotes

f1

This regulation is a re-enactment of regulation 6 of the 1985 Regulations.