Currency and Exchanges Act, 1933 (Act No. 9 of 1933)RegulationsExchange Control Regulations, 196118. Provision of security |
| (1) | The Treasury or a person authorised by the Treasury, may order any person to provide security, in such form and in such amount as the Treasury may determine, that he will comply, either generally or in respect of any particular transaction, with the provisions of any of these regulations specified by the Treasury or by a person authorised by the Treasury. |
| (2) | Where any person who has provided security in terms of this regulation, has failed to comply with the provisions of the regulations in respect of which the security has been provided, the Treasury may direct that the said security shall be forfeited for the benefit of the National Revenue Fund. |
The forfeiture of such security shall not prevent any other action against the person concerned for his failure to comply with the provisions of these regulations.