Shuttleworth v South African Reserve Bank (864/2013) [2014] ZASCA 157 (1 October 2014)

The Supreme Court of appeal delivered its judgement in the case between Shuttleworth v South African Reserve Bank on the 1st of October 2014.

The judgement revolves around regulation 10(1)(c) of the Exchange Control Regulations – lawfulness of the imposition of a ten per cent exit levy by the South African Reserve Bank on the value of assets sought to be exported upon emigration – whether court can order repayment of the levy.

Please click here to access the judgement.

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