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Diamond Export Levy Act, 2007 (Act No. 15 of 2007)

Part 1 : Interpretation

1. Definitions

 

(1) In this Act, unless the context indicates otherwise—

 

"Administration Act"

means the Diamond Export Levy (Administration) Act, 2007;

 

"bill of entry for export"

means a bill of entry delivered in terms of section 38(3)(a) of the Customs and Excise Act, 1964 (Act No. 91 of 1964);

 

"Diamonds Act"

means the Diamonds Act, 1986 (Act No. 56 of 1986);

 

"levy"

means any levy payable as described in section 2(1);

 

"person"

includes an insolvent estate, the estate of a deceased person and any trust;

 

"producer"

means –

(i) a producer as defined in the Diamonds Act; or
(ii) any company (other than a producer described in paragraph (i)) that—
(a) is incorporated in or outside of the Republic and forms part of the same group for financial reporting purposes pursuant to International Financial Reporting Standards or Generally Accepted Accounting Practice as that producer; and
(b) sells unpolished diamonds purchased from (or on behalf of) that producer; and

 

"unpolished diamond"

means an unpolished diamond as defined in section 1 of the Diamonds Act, but does not include a synthetic diamond as defined in section 1 of that Act.

 

"value"

in relation to goods exported, means the value determined under section72 of the Customs and Excise Act, 1964 (Act No. 91 of 1964);

 

(2) Unless the context indicates otherwise, any word or expression to which a meaning has been assigned in the Diamonds Act or the Administration Act bears the meaning so assigned for purposes of this Act.