PRESIDENT'S
OFFICE
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- No. 637.
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19 April 1996
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- NO. 23 OF 1996: CURRENCY
AND EXCHANGES AMENDMENT ACT, 1996.
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- It is hereby notified that
the President has assented to the following Act which is hereby
published for general information:-
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GENERAL
EXPLANATORY NOTE: -
- << >> Words
between pointed brackets indicate insertions in existing
enactments.
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ACT
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- To make provision for the
application of the Currency and Exchanges Act, 1933, and the
regulations made in terms of that Act, as they apply in the
Republic, also to those parts of the Republic which constituted
the
national territories of certain states which no longer exist; for
the approval or refusal of applications for the purchase
of foreign
currency by means of a computer process; and to provide for matters
connected therewith.
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- (Afrikaans text
signed by the President.) (Assented to 10 April 1996.)
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BE IT ENACTED by the
Parliament of the Republic of South Africa, a follows:- Extension of
application of Act No. 9 of 1933 and
certain regulations to
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certain parts of Republic
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- 1. (1) The Currency and
Exchanges Act, 1933, and the regulations made in terms of that Act,
applying in the Republic, shall apply also in those parts of the
Republic which
constituted the national territories of the former
Republics of Transkei, Bophuthatswana, Venda and Ciskei, and that
Act and
those regulations shall replace any law relating to currency
and exchange which applied in those parts immediately before 27
April 1994.
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- (2) Anything done in terms
of a provision of a law which ceases to exist as a result of
subsection (1) shall be deemed to have
been done under the
corresponding provision of the Currency and Exchanges Act, 1933, or
of the relevant regulation made in terms of that Act.
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- Amendment of section 9 of
Act 9 of 1933, as amended by section 6 of Act 27 of
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1940, section 17 of Act 43 of
1941, section 26 of Act 36 of 1950, section 1 of
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Act 23 of 1987 and section 1
of Act 48 of 1988
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- 2. Section 9 of the
Currency and Exchanges Act, 1933, is hereby amended by the
substitution for subsection (6) of the following subsection:
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- "(6) <<The
Treasury may consider and grant or refuse any application to
purchase foreign currency by utilising a
computer system or other
electronic device or apparatus capable of absorbing and processing
data and, in accordance with instructions
given by the Treasury, of
making available information indicating the refusal or approval of
that application, in the form
of a document.>>".
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- Short title and
commencement
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- 3. This Act shall be
called the Currency and Exchanges Amendment Act, 1996, and shall be
deemed to have come into operation on 27 April 1994.
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