Princess Estate and Gold Mining Co Ltd v Registrar of Mining Titles [1911] ZATPD 162 (7 December 1911)

Immovables - Gold Claims and Water Rights - Act 15 of 1908 -Revenue - Transfer Duty - Exemptions - "Beneficial lnterest" - Company and Shareholders - Act 30 of 1911 - Statutes - Construction - Reference to Reasons of Legislature

Gold claims and water rights, under Act 16 of 1908, are to be regarded as immovable property.

The words "beneficial interest" in Act 30 of 1911, only apply to cases where the law recognises a distinct severance between the legal and beneficial interests. Consequently the shareholders of a company are not beneficially interested in the property of the company within the meaning of the Act, and transfer duty is chargeable on a transfer of immovable property from the company in liquidation to the sole shareholder.

In construing a statute the Court will not consider the reasons given by the Legislature for rejecting a petition, nor regard such reasons as law.