This is an AI-generated summary of a selected monitored public legal source and may omit context. It is general information only, not legal advice, and is not a substitute for reading the source or consulting an attorney.
AI summary
The South African Reserve Bank published a notice and order of forfeiture under Exchange Control Regulation 22B in respect of money held for Norra Trading (Pty) Limited. The notice says USD236 368.93 in an ABSA Bank account, together with any interest or other accrual, is forfeited to the State and will be deposited to the National Revenue Fund.
This may be relevant to parties following exchange control forfeiture notices and South African Reserve Bank actions.
Evidence from source
Notice of Forfeiture to the State of money in terms of the provisions of Exchange Control Regulation 22B
Supports: The document is a notice and order of forfeiture under Exchange Control Regulation 22B.
the capital amount of USD236 368.93 standing to the credit of the Respondent in account number 561357-USD-1202-02 held with ABSA Bank Limited
Supports: The notice identifies the money concerned and the bank account.
shall be disposed of by deposit thereof to the National Revenue Fund
Supports: The notice states what will happen to the forfeited money.