Title
Mark Dallal v Islamic Republic of Iran, and, Bank Mellat (formerly International Bank of Iran), Case No. 149 : Award No. 53-149-1 of 10 June 1983, YCA 1984 (Vol. IX), at 264 et seq.
Content

Award in Case No. 149 (53-149-1) of 10 June 1983

[...]
267
Strong reasons suggest that also international tribunals should respect the relevant provisions in the IMF Agreement.

[...]
269

“As stated above, the language of the IMF Agreement imposes on courts and administrative authorities, as well as on international tribunals, not only a right but a duty to refuse enforcement of exchange contracts, including capital transfers, 4 falling under the provisions of Article VIII Section 2(b) of the Agreement. The effects of this provision would to a considerable extent be negated, if a court always were to place the burden of proof regarding the character of the transaction on parties not involved in the operation.

4 See F. A. Mann, The Legal Aspect of Money, Oxford 1982, p. 382.

Referring Principles
Trans-Lex Principle: V.2.4 - Distribution of currency transfer risk
A project of CENTRAL, University of Cologne.