SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Process and Control Non-Resident and Emigrants Bank Accounts/Assets 
SAQA US ID UNIT STANDARD TITLE
7318  Process and Control Non-Resident and Emigrants Bank Accounts/Assets 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 5  Level TBA: Pre-2009 was L5  18 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 
2003-12-03  2004-08-11  SAQA 1351/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-08-11   2008-08-11  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
117843  Process and Control Non-Residents' and Emigrants' Bank Accounts/Assets  Level 5  Level TBA: Pre-2009 was L5  12  Complete 

PURPOSE OF THE UNIT STANDARD 
This unit standard is for persons in the exchange control enviroment of authorised dealers. A person credited with this unit standard will be able to: process emigration formalities, control emigrants blocked assets and funds, monitor and control non-resident accounts. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Open 

UNIT STANDARD OUTCOME HEADER 
Process Emigration Formalities 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Process Emigration Formalities. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. An Emigration Formalities form is checked for correctness & compliance and a certified copy handed to the customer (for taking to SARS). 
ASSESSMENT CRITERION RANGE 
Form NEP, Registration Paper, Proof of being accepted.
 

ASSESSMENT CRITERION 2 
2. Supporting documentation is requested from the customer as per exchange control rulings if applicable, including but not limited to the range. 

ASSESSMENT CRITERION 3 
3. A tax clearance certificate is checked to verify and confirm that tax obligations have been met. 

ASSESSMENT CRITERION 4 
4. An application is submitted to the South African Reserve Bank when the customer's request cannot be dealt within the ambit of the SARB rulings. 

ASSESSMENT CRITERION 5 
5. Facilities are accorded in terms of exchange control rulings & regulations and confirmation advised to South African Reserve Bank. 
ASSESSMENT CRITERION RANGE 
Travel Allowance, Settling In Allowance, Forms NEP attested.
 

SPECIFIC OUTCOME 2 
Control Emigrants Blocked Assets and Funds. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Documents of title in respect of the customer's remaining assets are brought under the authorised dealer's physical control and restrictively endorsed, in terms of exchange control rulings, including but not limited to the range. 

ASSESSMENT CRITERION 2 
2. An undertaking is obtained from the relevant party with whom the asset/s is/are held regarding any blocked assets, and in terms of exchange control rulings; including but not limited to the range. 

ASSESSMENT CRITERION 3 
3. The customer is informed/advised on how the blocked funds may be invested and utilised locally, in terms of exchange control rulings & or regulations. 

ASSESSMENT CRITERION 4 
4. In instances where a client inadvertently fails to declare assets on emigration, any dealings relating to these assets must be referred to the South African Reserve Bank in accordance with exchange control rulings & or regulations. 

ASSESSMENT CRITERION 5 
5. Income accruing to the emigrant customer may be remitted subject to exchange control rulings & or regulations. 

SPECIFIC OUTCOME 3 
Monitor and Control Non-Resident Rand Accounts. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. The account is checked for sub - product codes and designation in accordance with company specific requirements. 

ASSESSMENT CRITERION 2 
2. The account is strictly monitored for activity (especially for any credits), in accordance with exchange control rulings & or regulations. 

ASSESSMENT CRITERION 3 
3. Rand deposits into the non-resident's accounts are responded to in accordance with company specific requirements and exchange control rulings & or regulations. 

ASSESSMENT CRITERION 4 
4. Forms for the purchase and sale of exchange are completed in terms of the prescribed limits according to exchange control rulings & or regulations. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.

2. Any institution offering learning that will enable achievement of this unit standard or assessing this unit standard must be accredited as a provider with the relevant ETQA.

3. Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
Knowledge of Exchange Control Rulings
Interpretation of data 


Critical Cross-field Outcomes (CCFO): 

UNIT STANDARD CCFO COLLECTING 
To critically evaluate information when the Emigration Formalities Form is checked for correctness and compliance; and an application is submitted to the SARB when the customer's request cannot be dealt within the ambit of SARB rulings. 

UNIT STANDARD CCFO COMMUNICATING 
To communicate effectively when requesting supporting documentation from the customer as per exchange control rulings; submitting an application to Reserve Bank; facilities are accorded in terms of excon rulings and regulations and confirmation advised to SARB; the customer is informed/advised on how blocked funds may be invested & utilised locally in terms of excon rules & regulations; and forms for the purchase and sale of exchange are completed in terms of the prescribed limits according to excon rules & regulations. 

UNIT STANDARD CCFO SCIENCE 
To use technology effectively when the account is checked on the system for sub-product codes and designation in accordance with company specific requirements; and the account is strictly monitored via the system for activity in accordance with excon rules and regulations. 

UNIT STANDARD NOTES 
This unit standard has been replaced by unit standard 117843, which is "Process and Control Non-Residents' and Emigrants' Bank Accounts/Assets", Level 5, 12 credits.

Legal Requirements:

Knowledge of Exchange Control Rulings and Regulations 

QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
  ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
Elective  61589   National Certificate: Banking  Level 5  Level TBA: Pre-2009 was L5  Reregistered  2021-06-30  As per Learning Programmes recorded against this Qual 


PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
 
1. Nedbank Ltd 
2. Plumb Line Risk Alignment 
3. The Institute of Literacy Advancement 



All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.