Currency and Exchanges Amendment Act 48 of 1988

Currency and Exchanges Amendment Act, 1988 (No. 48 of 1988)

GENERAL EXPLANATORY NOTE:
[ ]  Words in bold type in square brackets indicate omissions from existing enactments.
__Words underlined with solid line indicate insertions in existing enactments.

Act

• to amend the Currency and Exchanges Act, 1933, so as to extend the period for which money or goods may be blocked, attached or interdicted under the regulations; and
• to provide for matters connected therewith.

(English text signed by the State President.)
(Assented to 25 Apri/1988.)

BE IT ENACTED by the State President and the Parliament of the Republic of South Africa, as follows:-

Amendment of section 9 of Act 9 of 1933, as amended by section 6 of Act 27 of 1940, section 17 of Act 43 of 1941, section 26 of Act 36 of 1950 and section 1 of Act 23 of 1987

1. Section 9 of the Currency and Exchanges Act, 1933, is hereby amended-

(a) by the substitution in subparagraph (i) of subsection (2) (b) for the words preceding item (aa) of the following words:

"the blocking, attachment and obtaining of interdicts for a period [not exceeding 12 months] referred to in paragraph (g) by the Treasury and the forfeiture and disposal by the Treasury of any money or goods referred to or defined in the regulations or determined in terms of the regulations or any money or goods into which such money or goods have been transformed by any person, and-"; and

(b) by the addition to subsection (2) of the following paragraph:

"(g) the period referred to in paragraph (b) i shall be a period not exceeding 36 months or such longer period-

(i) as ends 12 months after the final judgment (including on appeal, if any) in every posecution for any contravention of the regulations or any other law in relation to the money or goods concerned or in which such money or goods are relevant to any aspect of such prosecution; or

(ii) as may be determined by a competent court in relation to the money or goods concerned on good cause shown by the Treasury.".

Short title and commencement

2. This Act shall be called the Currency and Exchanges Amendment Act, 1988, and shall be deemed to have come into operation on 1 December 1961.