oa Juta's Business Law - Making administrative penalties work
In this article, I will discuss the need for the accrual of interest on administrative penalties under the Competition Act 89 of 1998 ('the Act') in South Africa. I will compare local and foreign statutes where fines are administered as penalties and examine how those statutes deal with the issue of interest. The local legislation includes :
- the Criminal Procedure Act 51 of 1977;
- the Prescribed Rate of Interest Act 55 of 1975;
- the Independent Broadcasting Authority Act 153 of 1993; and
- the Fines and Penalties Regulations (see GN 3002 in Government Gazette 24070 of 13 November 2002) promulgated under the Independent Broadcasting Authority Act.
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