"Any person who contravenes or fails to comply with the provisions of any of these regulations, or contravenes or fails to comply with the terms of any notice or order or direction issued or any permission or exemption granted under these regulations, or who obstructs any person in the execution of any power or function assigned to him by or under these regulations, or makes any incorrect statement or declaration made or return rendered for the purposes of these regulations (unless he proves that he did not know, and could not by the exercise of a reasonable degree of care have ascertained, that the statement was incorrect) or refuses or neglects to furnish any information which he is required to furnish under these regulations, shall be guilty of an offence and liable upon conviction to a fine not exceeding RIO 000,00 or to imprisonment for a period not exceeding 5 years or to both such fine and such imprisonment; provided that where he is convicted of any offence against any of these regulations in relation to any security, foreign currency, gold, bank note, cheque, postal order, bill, note, debt, payment or goods, the fine which may be imposed on him shall be a fine not exceeding R10 000,00 or a sum equal to the value of the security, foreign currency, gold, bank note, postal order, bill, note, debt, payment or goods, whichever shall be the greater."
At the time when the matter was argued, Mr. Du Toit was uncertain v/hether Regulation 14 (A) (1) was in existence in its present form when the relevant transactions between the Plaintiff and the Defendant took place. Counsel was then allowed to file further written argument before the Court. Both Counsel availed themselves of this opportunity. From these written arguments, it seems clear that Regulation 14(A)(1) in its present form came into existence during 19S5. It follows that the relevant transactions between the parties were not subject to Regulation 14(A)(1) in its present form.
It is necessary, however, to have regard to Regulations 8(1) and