| a) |
solely for purposes of - |
| i) |
being exhibited or displayed; or |
| ii) |
obtaining an expert opinion as to the fair market value or manner of beneficiating that diamond; and |
| b) |
for no longer period as the Regulator may determine (but not exceeding a period of 180 days from the date upon which that diamond was released for export as described in section 69), that diamond will not be subject to the provisions of section 48A, |
| 2) |
If the Regulator is satisfied that an unpolished diamond may be exported as described in subsection (1), a registering officer will issue the exporter of that diamond with a temporary exemption certificate stipulating - |
| a) |
that the diamond is not subject to section 48A; |
| b) |
the value of that diamond as released for export in terms of section 69; and |
| c) |
any other particulars required to be furnished by the Regulator in respect of that diamond, |
| 3) |
The exporter of an unpolished diamond that is exported as described in subsection (2) is in contravention of this Act if that diamond upon its re-importation is - |
| a) |
not registered for import as described in section 61A on a date within the date determined by the Regulator as described in subsection (1) in respect of that diamond; or |
| b) |
is physically different in any manner as of the date that diamond was released for export as described in section 69. |
| 4) |
If the exporter of any unpolished diamond that is exported as described in subsection (2) contravenes subsection (3), that exporter shall be subject to a fine equal to 25 percent multiplied by that diamond's value as released for export in terms of section 69 of the Diamonds Act. |
| 5) |
The Regulator may reduce the fine described in subsection (4)(c) up to 20 percentage points if he or she is satisfied that an exporter contravened subsection (3) for reasons beyond the exporter's control. |
| 6) |
Any fine imposed in terms of this section shall be paid by the exporter concerned to the Regulator within 30 days of being notified by the Regulator that such amount is due. |
| 7) |
Any money paid to the Regulator as described in subsection (6) shall be paid into the National Revenue Fund within seven days after receipt thereof. |
[Section 64 amended by section 19(4) of the Diamond Export Levy (Administration) Act, 2007 (Act No. 14 of 2007)]
Older Persons Act, 2006
