Posts Tagged "assignment"

Assignments of IP to non-residents: the amended Exchange Control Regulations

Posted on Jul 3, 2012

Assignments of IP to non-residents: the amended Exchange Control Regulations

The Exchange Control Regulations (the “Regulations”) have been amended with effect from 8 June 2012 (Government Gazette No. 35430) to provide that transfers of ownership of intellectual property from a South African resident to a non-resident now require prior Treasury approval.  While this amendment to the Regulations has drawn comments or criticisms from commentators, these have principally related to, inter alia, the apparent reversal of the stated policy of relaxing exchange controls or the alleged invalidity of the amendment.  In contrast, the purpose of this note is to briefly...

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