Mandating Procedures of Provinces Act, 2008
R 385
Transfer Duty Act, 1949 (Act No. 40 of 1949)16. Persons who acquire property on behalf of others shall disclose names of their principals |
| (1) | Where property is sold to a person who is acting as an agent for some other person, the person so acting as agent shall disclose to the seller or his or her agent the name and address of the principal for whom he or she acts, and furnish the seller or his or her agent with a copy of the documents appointing him or her as agent— |
| (i) | if the sale is by auction, on the day of acceptance by the auctioneer of his or her offer; or |
| (ii) | if the sale is otherwise than by auction, on the day of conclusion of the agreement of sale. |
[Section 16(1) substituted by section 6 of Act No. 45 of 2003]
| (2) | Any person who has been appointed as an agent, but fails to furnish the documents contemplated in subsection (1) and the name of the person on whose behalf he or she is acting to the seller or his or her agent on the date specified in subsection (1) shall, for the purpose of the payment of the duty payable in respect of the acquisition of the property in question, be presumed, unless the contrary is proved, to have acquired the property for himself or herself. |
[Section 16(2) substituted by section 2 of Act No. 34 of 2004]
