TRUSTEE DUTIES BECOME MORE INVOLVED
General Laws (Anti-Money Laundering and Combatting Terrorism Financing) Amendment Act, 2022
The legislative frenzy over the past few months to put systems in place to improve South Africa’s anti money laundering efforts is known to us all. One of the Acts that was passed by Parliament recently is the General Laws (Anti-Money Laundering and Combatting Terrorism Financing) Amendment Act, 2022. This Act, in turn, amends several other pieces of legislation, including the Trust Property Control Act. The amendments to the latter come into operation on 1 April 2023 and impose considerable additional obligations and responsibilities on trustees. We look at these below.
The Act
Summary of the Judgment
HOA RULE RESTRICTS ACCESS TO LAND WHEN OWNER IN BREACH: IS THE RULE UNLAWFUL?
Nuwekloof Private Game Reserve Farm Owners’ Association v Hanekom N.O and Others (A163/2022) [2023] ZAWCHC 10 (30 January 2023)
The constitutions of homeowners’ associations all have some provisions that address what happens when owners default on payments and other obligations. The rule in issue here provided that, upon default, the owner’s access to a game reserve area forming part of the association will be suspended. Does the exercise of such a rule result in spoliation, and does that make the rule unlawful? The judgment described why the answer was in the negative and what one must consider when making a call in such cases.
