!!!Devisenrecht

Foreign-exchange Legulations: Pursuant to the 1946 Law on Foreign 
Exchange (Devisengesetz, DevG), foreign exchange held or involved in 
transactions is to be recorded and made available to the business 
sector according to the urgency of its needs. The Austrian National 
Bank is the foreign exchange regulatory authority and is responsible 
for maintaining the value of the Austrian Schilling.

\\
On November 4, 1991, the National Bank completed the liberalisation of 
the foreign exchange regulations and thus accomplished what had been 
started in 1986: the removal of all foreign exchange restrictions 
which had been in effect for decades. Whatever foreign exchange 
reporting requirements remain are merely for statistical purposes. 
Austria thus meets, at least in financial respects, the requirements 
of IMF, OECD and EEA. Austrian  Nationalbank.

!Literature
A. Schwarzer and W. List, Das oesterreichische 
Devisenrecht, %%sup 2/%1992.


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