Legal Counsel – Dispute Resolution & Judgments – Supreme Court of Appeal: 2025–2023

9 February 2023 – Exchange Control Regulations of the Currency and Exchanges Act, 1933

South African Reserve Bank and Another v Johnine Winsome Elisie Maddocks N O and Another (1268/2021) [2023] ZASCA 04 (23 January 2023)

Exchange Control Regulations of the Currency and Exchanges Act, 1933 – Legal consequences of a forfeiture order issued in terms of Regulation 22B after the winding-up of a company – liquidation does not nullify a prior blocking order in respect of company’s assets issued in terms of Regulation 22A and/or 22C – issuance of the blocking order and forfeiture order does not render the South African Reserve Bank a creditor of the insolvent company – forfeiture order competent.