| (1) | For purposes of satisfying the exemption requirements under sections 7, 8 or 9 (as the case may be) in respect of the initial assessment period after the date on which this Act comes into operation, a producer takes into account all gross sales during— |
| (a) | the entire initial assessment period; and |
| (b) | the six calendar months immediately preceding the initial assessment period, |
as described in section 11.
| (2) | For purposes of the gross sales calculations described in subsection (1), paragraph (a) of section 11(1) is substituted to mean "gross sales to diamond beneficiators in respect of a producer means all amounts received or accrued during that assessment period by that producer in respect of all unpolished diamonds delivered to premises within the Republic (other than unpolished diamonds described in (ii) to the extent that any amount of the value of those diamonds is not subsequently re-imported into the Republic)". |
| (3) | Notwithstanding section 7 (1) (c), if a producer described in section 7 holds an exemption from section 48A of the Diamonds Act pursuant to section 74 of that Act at any time— |
| (a) | during its initial assessment period; or |
| (b) | on or after the ending date of its initial assessment period but on or before the twenty-ninth day of the ending date of that assessment period, |
the exemption is deemed to cover the entire initial assessment period, and the producer is not subject to the levy otherwise imposed in respect of all of its unpolished diamonds under the cover of bill of entry for export delivered during the initial assessment period.
| (4) | An agreement contemplated in section 31 (14) of the Diamonds Amendment Act, 2005 (Act No. 29 of 2005), entered into between the Board as defined in section 1 of the Diamonds Act, 1986, and a producer described under section 7 terminates and is of no further force and effect with effect from the date on which this Act comes into operation. |
| (5) | Notwithstanding section 4 (3) of the Administration Act, for purposes of this section, “initial assessment period” means the first assessment period after the date on which this Act comes into operation. |
