3   Payments

(1)     The tax referred to in-

(a)     section 3 or 4 of the Securities Transfer Tax Act, 2007, which becomes payable during any month in respect of any transfer, must be paid by the member or participant to the Commissioner by the 14th day of the following month;

(b)     section 5 of the Securities Transfer Tax Act, 2007, which becomes payable during a month in respect of any transfer, must be paid by the member or participant holding that security in custody or, in the case where the listed security is not held in custody by either a member or participant, through the company that issued the listed security to the Commissioner by the 14th day of the following month; and

[Paragraph (b) substituted by section 49(1)(a) of Act 61 of 2008 deemed effective on 1 July, 2008 and applicable in respect of the transfer of any security on or after that date]

(c)     section 6 of the Securities Transfer Tax Act, 2007 (Act 25 of 2007), which becomes payable during a month in respect of any transfer of an unlisted security, must be paid by the company, which issued that security, to the Commissioner within two months from the end of that month.

[Paragraph (c) substituted by section 27 of Act 4 of 2008]

(2)     Any person who has the obligation in terms of section 3 of the Securities Transfer Tax Act, 2007, to pay the tax must by the date referred to in subsection (1) submit a declaration electronically, in the form and manner as the Commissioner may determine and containing the information prescribed by the Commissioner, stating the amount of tax (if any) payable by that person.

[Subsection (2) substituted by section 49(1)(b) of Act 61 of 2008 deemed effective on 1 July, 2008 and applicable in respect of the transfer of any security on or after that date]

(3)     The Commissioner may, if he or she deems it necessary, declare the person to whom a security was transferred liable for the tax payable in terms of section 3, 4, 5 or 6 of the Securities Transfer Tax Act, 2007.

(4)      . . . . . .

[Subsection (4) deleted by section 271 read with paragraph 173 of Schedule 1 of Act 28 of 2011]

(5)     The payment of any tax, interest or penalty in respect of the transfer of a security must be made by way of an electronic payment.