State Oil Fund Amendment Act 68 of 1980

State Oil Fund Amendment Act, 1980 (No. 68 of 1980)

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

Act

• to amend the State Oil Fund Act, 1977, so as
  • to provide that the levy which may be imposed on petroleum products may differ according to the purpose for which such products are used; and
  • to make provision for the exemption from such levy of certain petroleum products manufactured for use outside the Republic; and
• to provide for incidental matters.

(English tat signed by the State President.)
(Assented to 21 May 1980.)

BE IT ENACTED by the State President. the Senate and the House of Assembly of the Republic of South Africa, as follows:-

Amendment of section 1A of Act 38 of 1977, as inserted by Act 30 of 1979 and amended by Act 74 of 1979.

1. Section 1A of the State Oil Fund Act, 1977, is hereby amended-

(a) by the insertion after subsection (1) of the following subsection: 

"(1A) A levy referred to in subsection (1) may differ according to the purpose for which the product in question is used."; and

(b) by the substitution for paragraph (b) of the proviso to subsection (3) of the following paragraph:

"(b) petroleum products manufactured [on behalf of a person] for use outside the Republic [against delivery by such person of a quantity of] from raw material produced outside the Republic which is required for the manufacture of such petroleum products [or an equivalent quantity thereof];".

Short title and commencement.

2. This Act shall be called the State Oil Fund Amendment Act, 1980, and the provisions of section 1 (a) shall be deemed to have come into operation on 1 October 1979.

Commencement

1 October 1979