Currency

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Currency

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3 documents
Ex parte freezing injunction vacated after applicant suppressed material related‑party and forensic‑audit facts.
  • Civil procedure — freezing injunctions — Order 10 r.11, r.12(2)(b) CPR — requirements: good and arguable case, assets likely to form part of judgment, risk of dissipation — equitable relief requires full and frank disclosure — clean hands doctrine — proportionality of freezing orders — relevance of forensic audit and related-party conflicts.
Judgment 7 February 2025
Whether seized foreign currency should be forfeited where a businessperson hid funds and used a fake receipt, outweighing mitigating circumstances.
  • Exchange control — Regulation 36(1) discretionary forfeiture of foreign currency — judicial exercise of discretion — aggravating factors (large sum, concealment, forged receipt, business person) v. mitigating factors (first offender, plea, alleged hardship) — precedents: Kamanga; Zheng Yan; Henry Kopa; Ashraf Bdallal El Ali — requirement to hear accused in opposition to forfeiture.
Judgment 20 November 2024
Retrospective application of the FCA was found by necessary implication but did not violate constitutional protections against conviction for non-offences.
  • Constitutional law — retrospectivity of statutes — Financial Crimes Act section 42 vs repealed MLA section 35 — interpretation of saving provision section 141(2) FCA — right not to be convicted for non-existent offence and protection against harsher retrospective penalties — procedural commencement via constitutional referral (Order 19 CPR).
Judgment 10 April 2024