Currency and Exchanges Act, 1933 (Act 9 of 1933)RegulationsOrders and Rules under the Exchange Control Regulations12. Order and general exemption in terms of regulations 3(1)(c) |
| (a) | In terms of regulation 4(2) of the Exchange Control Regulations published under Government Notice R. 1111 of 1 December 1961, as amended, the Treasury hereby orders that all payments which a person in the Republic is under legal obligation to make to a person outside the Republic in terms of or as a result of any judgement granted by a court in the Republic, must be paid into a blocked account, as intended in regulation 4(1) of the abovementioned Exchange Control Regulations, for the credit of such person outside the Republic, unless permission has been granted in terms of the above-mentioned Exchange Control Regulations to otherwise make such payment in a different manner. |
| (b) | In terms of regulation 3 of the Exchange Control Regulations published under Government Notice R. 1111 of 1 December 1961, as amended, the Treasury hereby exempts, in all cases where the permission of the Treasury would otherwise be necessary, any person from the obligation to obtain, as a prerequisite to the institution of any court action in connection with a transaction mentioned in regulation 3(1)(c) of the abovementioned Exchange Control Regulations, or as a prerequisite to obtain any judgement in such court action, or to execute upon any such judgement, the permission of the Treasury. |
[Rule 12 inserted by Government Notice No. R 2596 of 1984]