Maintenance Act, 1998
R 385
Diamonds Act, 1986 (Act No. 56 of 1986)Chapter VI : Export of Diamonds67. Fine in case of difference in values |
| 1) | If the difference in value of any unpolished diamond - |
| a) | as specified in the return referred to in section 61(2) in relation to the value of that diamond as released for export in terms of section 69; or |
| b) | as specified in the return referred to in section 61A(2) in relation to the value of that diamond as released for import in terms of section 69B, |
is greater than 20 per cent, the Regulator shall impose upon the exporter or importer concerned a fine equal to 20 percent of the value of that diamond as released in terms of section 69 or section 69B (as the case may be).
| 2) | Any fine imposed in terms of this section shall be paid by the exporter or importer concerned to the Regulator within 30 days of the date that fine was imposed. |
| 3) | Any money paid to the Regulator as described in subsection (2) shall be paid into the National Revenue Fund within seven days after receipt thereof. |
[Section 67 amended by section 19(8) of the Diamond Export Levy (Administration) Act, 2007 (Act No. 14 of 2007)]
