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AI summary
This notice amends the Customs and Excise Act rules with effect by substituting rule 120.13.02 and amending rule 120.13.05A. The changes replace references to R50 000,00 with R100 000,00 in the described advance foreign exchange payment provisions.
It may be relevant to importers and authorised dealers dealing with advance foreign exchange payments under the cited rules.
Evidence from source
the rules published in Government Notice R.1874 of 8 December 1995, are herewith amended to the extent set out in the Schedule hereto
Supports: The notice amends the existing Customs and Excise Act rules.
The rules numbered 120.13 apply for purposes of any advance foreign exchange payment which exceeds [R50 000,00] R100 000,00
Supports: Rule 120.13.02 is substituted and the threshold is changed to R100 000,00.
where the importer applied to an authorised dealer to effect an advance payment of an amount not exceeding [R50 000,00] R100 000,00
Supports: Rule 120.13.05A is amended and the threshold is changed to R100 000,00.