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Exchange Control Amnesty and Amendment of Taxation Laws Act, 2003 (Act No. 12 of 2003)

Chapter I : Exchange Control Amnesty and accompanying tax measures

Part F : Establishment and Procedures relating to Amnesty Unit

26. Records, provision and use of information

 

1) A copy of the approved application (including all information submitted therewith, but without reflecting any names of persons who have not jointly applied with the applicant for amnesty) granted in terms of –
a) section 9(1) and 9(4) must be submitted to the General Manager, which shall be used by the General Manager to amend the records of the South African Reserve and
b) section 9(2), 9(3) and 9(5) must be submitted to the Commissioner to update the register of the South African Revenue Service, to give effect to the objectives of the exchange control amnesty and accompanying tax measures.

 

2) Notwithstanding any provision of any other Act, the amnesty unit the commissioner and the General Manager may not request details from the applicant or facilitator with regard to any person –
a) who advised an applicant in respect of whom approval has been granted on the method of accumulating foreign assets or transferring funds or assets from the Republic; or
b) who assisted that applicant by accumulating foreign assets or transferring funds or assets from the Republic, other than a facilitator in respect of whom approval is granted.

 

3) Any information submitted by an applicant in terms of section 6 or 7 or by a facilitator in terms of section 8, may not be disclosed to any person where approval in respect of that applicant was not approved as contemplated in section 10; and that information must be submitted to the National Treasury on the date of termination of the existence of the amnesty unit to be retained by the National Treasury for a period of at least five years after that date and the secrecy provisions as applicable to the amnesty unit shall continue to apply to the National Treasury in respect of that information.