In a resolution approved and confirmed last April 6, 1999, the Garments and Textile Export Board (GTEB) authorized the lifting of the suspension on transfer and swap schemes that were suspended under Circular 011 dated December 3, 1998 for the highly critical categories: US categories 338/9, 347/8, 638/9, 647/8 and Canada category 7/8A - subject to the following conditions:

1.  Transfer

a.  The maximum quantity to be transferred is 20% of the firm's total EQ in a particular category.

b.  Firms with Export Quota (EQ) in a particular category and were granted Export Authorizations (EA) during regular allocation are not allowed to transfer any quota during the year.

c.  Firms that transferred EQ in a particular category are disqualified to participate in the over-the-counter (OTC)/guarantee allocation for that category.

2.  Swaps

In order for the Swap scheme to be effective and to avoid any circumvention of the rules, the Swap must be limited between categories of the same status i.e. swap between critical categories; swap between semi-critical, and swap between non-critical categories.

3.  Except for the above changes all other provisions of Rule V Sec. 9 of the Rules on Transfer and Swap schemes will remain.

Adopted: 09 March 2000

(SGD) THELMA K. JOVER
Officer-In-Charge