| 12) |
Exemption from Act 38 of 2001 |
Every accountable institution, which performs the functions of an accountable institution referred to in item 9 of Schedule 1 to the Act and which is required to hold a license to operate a casino is exempted from compliance with the provisions of the Act in respect of all activities of such an institution which may be performed without the institution being required to hold such a license.
| 13) |
Exemption from Parts 1 and 2 of Chapter 3 of Act 38 of 2001 |
Every accountable institution, which performs the functions of an accountable institution referred to in item 9 of Schedule 1 to the Act is exempted, in respect of those functions, from compliance with the provisions of Parts 1 and 2 of the Act in respect of every single transaction concluded with a client, in terms of which –
| a) |
credit or any representation of value which is issued or sold by the institution to be used for gambling, is provided directly or indirectly to the client for a consideration not exceeding R25 000,00 or more, or |
| b) |
an amount not exceeding R25 000,00 is provided directly or indirectly to the client in exchange for any representation of value which is issued or sold by the institution to be used for gambling; or |
| c) |
an amount not exceeding R25 000,00 is received from the client – |
| i) |
as a deposit for gaming; |
| ii) |
as a repayment of credit previously extended; |
| iii) |
as a wager at any gaming activity at which a representation of value which is issued or sold by the institution to be used for gambling is not customarily used for wagering; or |
| d) |
an amount not exceeding R5 000,00 is received from the client as a wager at any gaming activity at which a representation of value which is issued or sold by the institution to be used for gambling is customarily used for wagering; |
| e) |
cash, a cheque or other negotiable instrument or funds are exchanged by, or on behalf of the client, for cash, a cheque or other negotiable instrument or funds which are to be transferred, to the amount not exceeding R25 000,00. |
| 14) |
Exemption from regulations made under Act 38 of 2001 |
Every accountable institution, which performs the functions of an accountable institution referred to in item 9 of Schedule 1 to the Act is exempted, in respect of those functions, from compliance with the provisions of regulation 3(1)(d), 3(1)(e), 4(2), 4(3), 5(1)(e) and 5(1)(f) of the Regulations, and of section 22(1)(a), 22(1)(b), 22(1)(c), 22(1)(d), 22(1)(e), 22(1)(h) and 22(1)(i) of the Act concerning the particulars referred to in those regulations, in respect of every single transaction which is not subject to the exemption referred to in paragraph 11 of this Schedule.
Protection of Businesses Act, 1978
