Currency and Exchanges Act, 1933 (Act No. 9 of 1933)

Where the control of any business is established outside the Republic, any transaction with a branch or subsidiary of such business in the Republic shall be treated as if the said branch or subsidiary were a separate person. The manager or controller of such branch or subsidiary in the Republic shall assume the same obligations under these regulations as he would have been required to assume if the said branch or subsidiary were independent of control from outside the Republic.