Article 40: Removal of Restrictions on Movement of Capital and Current Transactions
- The Member States shall, in order to ensure the proper functioning of the CSME, remove among themselves:
(a) restrictions on the movement of capital payments;
(b) restrictions on all current payments including payments for goods and services and other current transfers.
- COFAP, subject to the approval of the Conference, shall establish in collaboration with the Committee of Central Bank Governors a programme for the removal of the restrictions mentioned in paragraph 1 of this Article.
- For the purpose of this Article, capital and related payments and transfers include: (a) equity and portfolio investments;
(b) short-term bank and credit transactions;
(c) payment of interest on loans and amortization;
(d) dividends and other income on investments after taxes;
(e) repatriation of proceeds from the sale of assets; and
(f) other transfers and payments relating to investment flows.