| (1) |
Notwithstanding section 2(1), if during any assessment period— |
| (a) |
the sum of a producer's gross sales to diamond beneficiators described in section 11(1)(a) for that assessment period and the immediately preceding assessment period equal at least 40 per cent of the sum of that producer's total gross sales described in section 11(1)(b) during the aggregate of those assessment periods; |
| (b) |
the sum of the producer's total gross sales described in section 11(1)(b) during those assessment periods described in paragraph (a) exceeds R 3 billion; and |
| (c) |
the producer holds an exemption from section 48A of the Diamonds Act pursuant to section 74 of that Act that covers that entire assessment period, |
that producer is exempt from the levy during that assessment period.
| (2) |
If during an assessment period a producer— |
| (a) |
satisfies subsections (1)(b) and (c); |
| (b) |
fails to satisfy the 40 per cent described in subsection (1)(a) by an amount up to 5 percentage points; and |
| (c) |
in respect of that assessment period, satisfied subsection (1) in the immediately preceding assessment period, |
the levy rate in subsection (3) applies to that producer in lieu of the levy rate applied in section 3.
| (3) |
A producer described in subsection (2) is subject to a levy that equals— |
| (a) |
the percentage by which that producer failed to satisfy the 40 per cent described in subsection (2)(b) during the assessment period described in subsection (2); multiplied by |
| (c) |
the value of all of its unpolished diamonds as released for import in terms of section 69B of the Diamonds Act during the assessment period described in subsection (2), but not exceeding the value described in paragraph (b). |
Gas Regulator Levies Act, 2002
