Shuttleworth v South African Reserve Bank and Others (864/2013)
Shuttleworth v South African Reserve Bank and Others (864/2013) [2014] ZASCA 157; 2015 (1) SA 586 (SCA); [2014] 4 All SA 693 (SCA); 77 SATC 145 (1 October 2014)
The Supreme Court of Appeal held that the ten per cent exit levy imposed by the South African Reserve Bank on the export of assets upon emigration was unlawful. Regulation 10(1)(c) did not authorise the raising of revenue, and the procedure prescribed by section 9(4) of the Currency and Exchanges Act for revenue-raising regulations was not followed. The levy constituted a tax or revenue-raising mechanism, which under the Constitution must be authorised by a money bill passed by Parliament. The payment of the levy by the applicant was made under protest to secure the release of his blocked ass…
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- Exchange Control Regulations
- Levy As Tax
- Money Bill Procedure
- Condictio Indebiti
- Judicial Review
- Administrative Action