South African Reserve Bank v Shuttleworth (CCT194/14, CCT199/14) [2015] ZACC 17 (18 June 2015) per Moseneke DCJ (Mogoeng CJ, Cameron J, Jappie AJ, Khampepe J, Molemela AJ, Nkabinde J, Theron AJ and Tshiqi AJ concurring) with Froneman J dissenting.

ConCourt Summary:

  • Sections 75 and 77 of the Constitution — money Bills — difference between taxes and regulatory charges — dominant purpose test
  • Exchange control system — whether exit charge imposed under regulation 10(1)(c) of Exchange Control Regulations a tax or regulatory charge — exit charge a regulatory charge
  • Exchange control system — section 9(4) of the Currency and Exchanges Act 9 of 1933 — definition of “calculated to raise revenue” — “calculated” does not mean “likely”
  • Exchange control system — broad discretionary powers of Minister — necessary for flexible, speedy and expert approach to exchange control