12 Things You Didn’t Know About South African Millionaire Mark Shuttleworth

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Written by Peter Pedroncelli

South Africa Raises Rates
South African Reserve Bank. Photo: centralbanking.com

Legal battle with the SA Reserve Bank part 2

The legal battle did not end there, however, as the Constitutional Court overturned the supreme court of appeal decision, as they found that the dominant purpose of exit charge was not to raise revenue‚ but to regulate conduct. This meant that the South African Reserve Bank did not have to repay Shuttleworth the levy.