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[2023] ZAGPPHC 1911
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MEC for Economic Development, Tourism and Environmental Affairs, KwaZulu-Natal Province and Another v South African Reserve Bank Prudential Authority and Others (38719/2022) [2023] ZAGPPHC 1911 (21 November 2023)
IN THE HIGH COURT
OF SOUTH AFRICA
(GAUTENG DIVISION,
PRETORIA)
Case No. 38719/2022
(1) REPORTABLE:
YES
/NO
(2) OF INTEREST TO
OTHER JUDGES:
YES
/NO
(3) REVISED: NO
DATE: 21 November
2023
SIGNATURE:
In
the matter between:
MEC
FOR ECONOMIC DEVELOPMENT, TOURISM AND ENVIRONMENTAL AFFAIRS,
KWAZULU-NATAL PROVINCE
First
Applicant
THE
PREMIER OF KWA-ZULU NATAL PROVINCE
Second
Applicant
and
THE
SOUTH AFRICAN RESERVE BANK
PRUDENTIAL
AUTHORITY
First
Respondent
THE
MINISTER OF FINANCE
Second
Respondent
ITHALA
SOC LIMITED
Third
Respondent
ITHALA
DEVELOPMENT FINANCE CORPORATION LIMITED (REG. NO. 2001/007427/30)
Fourth
Respondent
JUDGMENT
MILLAR J
[1]
This is an application for leave to
appeal against a judgment and order handed down on 29 September 2023.
[2]
I have
carefully considered the order granted by me and the reasons set out
in the judgment together with the arguments presented
at the hearing
of the application for leave to appeal and in the heads of argument
filed by all the parties.
[3]
I am not
persuaded that another court would come to a different conclusion or
that there are any other compelling reasons why leave
to appeal ought
to be granted.
[4]
In the
circumstances it is ordered:
[4.1]
The application for leave to appeal is refused.
[4.2]
The applicants are ordered to pay the costs of the first and second
respondents on the
scale as between party and party, such costs to
include the cost consequent upon the employment of two counsel where
more than
one counsel was engaged.
A MILLAR
JUDGE
OF THE HIGH COURT
GAUTENG DIVISION, PRETORIA
HEARD
ON:
20
NOVEMBER 2023
JUDGMENT
DELIVERED ON:
21
NOVEMBER 2023
FOR
THE APPLICANTS:
ADV.
A DICKSON SC
ADV.
A CHRISTISEN
ADV.
T PALMER
INSTRUCTED
BY:
MATTHEW
FRANCIS INC.
REFERENCE:
MR.
Y MAHARAJ
FOR
THE FIRST RESPONDENT:
ADV.
N MAENETJE SC
ADV.
M MAJOZI
INSTRUCTED
BY:
WERKSMANS
ATTORNEYS
REFERENCE:
MS.
C MANAKA
FOR
THE SECOND RESPONDENT:
ADV.
L ABRAHAMS
INSTRUCTED
BY:
THE
STATE ATTORNEY PRETORIA
REFERENCE:
MS.
Z ZENANI
NO APPEARANCE FOR THE THIRD OR
FOURTH RESPONDENTS