78.    Private rulings and class rulings

 

(1)     SARS may issue a ‘binding private ruling’ upon ‘application’ by a person in accordance with section 79.

 

(2)     SARS may issue a ‘binding class ruling’ upon ‘application’ by a person in accordance with section 79.

 

(3)     SARS may make a ‘binding private ruling’ or ‘binding class ruling’ subject to the conditions and assumptions as may be prescribed in the ruling.

 

(4)     SARS must issue the ruling to the ‘applicant’ at the address shown in the ‘application’ unless the ‘applicant’ provides other instructions, in writing, before the ruling is issued.

 

(5)     A ‘binding private ruling’ or ‘binding class ruling’ may be issued in the prescribed form and manner, must be signed by a senior SARS official and must contain the following:

 

(a)     a statement identifying it as a ‘binding private ruling’ or as a ‘binding class ruling’ made under this section;

 

(b)     the name, tax reference number (if applicable), and postal address of the ‘applicant’;

 

(c)     in the case of a ‘binding class ruling’, a list or a description of the affected ‘class members’;

 

(d)     the relevant statutory provisions or legal issues;

 

(e)     a description of the ‘proposed transaction’;

 

(f)      any assumptions made or conditions imposed by SARS in connection with the validity of the ruling;

 

(g)     the specific ruling made; and

 

(h)     the period for which the ruling is valid.

 

(6)     In the case of a ‘binding class ruling’, the ‘applicant’ alone is responsible for communicating with the affected ‘class members’ regarding the ‘application’ for the ruling, the issuance, withdrawal or modification of the ruling, or any other information or matter pertaining to the ruling.