AMENDMENTS PROPOSED DIAMONDS AMENDMENT BILL


[B 27-2005]


LONG TITLE


1.On page2, before "synthetic diamonds" omit "only"


2. On page 2, after the first "synthetic diamond" insert "or enhanced diamond"


3. On page 2, after the second and third "synthetic diamond" insert "or enhanced diamond"


CLAUSE I


1. On page 3, after line 26, to insert the following paragraph:


(g) by the insertion after the definition of "diamond power" of the following definition:


"enhanced diamond" means a natural diamond that has been altered, treated or improved by any artificial means, except by polishing;


CLAUSE 3


1. On page 5, in line 3, to omit "a".


2. On page 5, in line 26, to omit "12" and to substitute "14".


3. On page 5, in line 26, to omit "15" and to substitute "17".


4. On page 5, from line 30, to omit paragraph (b) and to substitute:


(b) two persons from the diamond industry;


5. On page 5, after line 31, to insert the following paragraphs:


(c) two persons from the precious metals industries; (d) two person from organised labour;


6. On page 5, in line 45, to omit "and (g)" and to substitute "(c), (d) and (i),".


7. On page 5, in line 47, after "industry" to insert "and precious metals industries".


8. On page 6, in line 48, after "time" to insert:


or shall at the request of a two thirds majority of the members in office at the time


9. On page 8, after line 17, to add the following paragraph:


(f) dispose of any excess unpolished diamonds acquired in terms of paragraph (a) through a diamond export and exchange centre;


10. On page 8, in line 31, to omit "manufactures" and to substitute "manufacturers".


11. On page 8, in line 39, to omit "two" and to substitute "three".


12. On page 9, in line 51, after "time" to insert:


or shall at the request of a two thirds majority of the members in office at the time


CLAUSE 5


1.On page11, after line11, to add the following paragraph:


(b) by the substitution for paragraph (e) of the following paragraph:


"(e) he or she is in possession of that diamond in implementing [an] a written agreement entered into by him or her with a person referred to in paragraph (a), (b), (c) or (d); or"


CLAUSE 6


1. On page 11, in line 19, to omit "[; or" and to substitute"; or".


2. On page 11, from line 20, to omit paragraph (d) and to substitute:


(d) he or she is the holder of a permit referred to in section [40(1 )(a) or (2)] 26(h).


3. On page 11, in line 22, to omit "[or holder of a permit]" and to substitute "or holder of a permit".


CLAUSE 11


1. On page 12, in line 29, to omit "26(e)" and to substitute "26(e) or (h)".


CLAUSE 14


1. On pagel3, after line 24, to add the following paragraph:


(h) a permit entitling a person to sell, export or import an unpolished diamond on prescribed conditions.


CLAUSE 15


1. On page 13, in line 31, to omit "three" and to substitute "five".


2. On page 13, after line 44, to add the following paragraph:


(g) a permit contemplated in section 26(h) is valid for such period as the Regulator may determine.


CLAUSE 22


1. On page 15, from line 25, to omit "or holder of a permit referred to in section [40(1)(b)] 26(e)".


CLAUSE 27


1. On page 16, in line 19, after "diamond" to insert "or enhanced diamond".


2. On page 16, in line 21, after "diamond" to insert "or an enhanced diamond".


3. On page 16, in line 23, after "diamond" to insert:

or an enhanced diamond, as the case may be


4. On page 16;in line 26, after the first "diamond" to insert "or an enhanced diamond".


5. On page 16, in line 26, after the second "diamond" to insert:


or an enhanced diamond, as the case may be


CLAUSE 30


1. On page 17, from line 1, to omit paragraph (b) and to substitute:


(b) The percentage contemplated in paragraph (a) may be based on carats and value, and shall be a representative sample of a production cycle of any diamond producer.


2. On page 17, in line 22, to omit "appointment" and to substitute:


appointment, which price shall be regarded as the fair market price of the unpolished diamond in question


CLAUSE 44


1. On page 20, in line 31, after "diamond" to insert "or enhanced diamond".


2. On page 20, in line 32, after "diamond" to insert:

or an enhanced diamond, as the case may be


3. On page 20, in line 33, after the first "diamond" to insert "or an enhanced diamond".


4. On page 20, in line 33, after the second "diamond" to insert:


or an enhanced diamond, as the case may be


NEW CLAUSE


1. That the following be a new Clause:


Substitution of section 74 of Act 56 of 1986


42. The following section is hereby substituted for section 74 of the principal Act:


"Exemption from provisions relating to offering or registration of polished or unpolished diamonds


74. The Minister may by notice in the Gazette exempt any person or category of persons from the provision of section 48A 60 or 70 on such conditions as may be specified in the notice.".


MONEY BILL


All issues pertaining to duties will be handled in the Money Bill which will run concurrently with the implementation of this Bill. Therefore Sections 62, 63 and 64 will be repealed by the Money Bill.


CONSEQUENTIAL AMENDMENTS


Allowance for consequential amendments should be made.