n Annual Survey of South African Law - Intellectual property law
|Article Title||Intellectual property law|
|© Publisher:||Juta Law Publishing|
|Journal||Annual Survey of South African Law|
|Affiliations||1 University of South Africa|
|Publication Date||Jan 2012|
|Pages||525 - 534|
With effect from 8 June 2012, the exchange control regulations, promulgated under section 9 of the Currency and Exchanges Act 9 of 1933 have been amended (General Notice 445 GG 35430 of 8 June 2012) to nullify the effect of Oilwell (Pty) Ltd v Protec International Ltd and Others 2011 (4) SA 394 (SCA) (see further 2011 Annual Survey 523-5 and 730-2). In terms of the newly inserted regulation 10(4), for the purposes of regulation 10(1)(c), the term 'capital' includes 'any intellectual property right, whether registered or unregistered' (reg 10(4)(a)); and the term 'exported from the Republic', in turn, includes 'the cession of, the creation of a hypothetic or other form of security over, the assignment or transfer of any intellectual property right, to or in favour of a person who is not resident in...' South Africa (reg 10(4)(b)).These amendments have been analysed in detail by Professor LTC Harms ('The aftermath of Oilwell Ltd v Protec International Ltd' (2013) 76 THRHR 421 422-4).
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