Where consideration takes the form of cash, payable in sterling in a single instalment in an immediately ascertainable amount, there is no problem in determining its amount or value.

Where the amount of consideration is expressed in a foreign currency (or, as SA 1891, s. 6 has it, ‘any foreign or colonial currency’), ad valorem duty is calculated on the value of the money in sterling (‘British currency’) according to the current rate of exchange on the day of the date of the instrument (SA 1891, s. 6(1)).

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