United Motors Ltd. v. Minister of Finance and Planning – sllr 1983 volume 1 page 448

In the case between United Motors Ltd. (petitioner-appellant) and the Minister of Finance and Planning (1st respondent), the court addressed the issue of whether deductions for commission, professional charges, and taxes should be made from the assets vested on the date of vesting or from the balance, including accrued interest, at the time of payment. It was held that only liabilities which had vested at the date of vesting, and specifically identified statutory charges, may be lawfully deducted, while commissions, professional charges incurred after vesting, and taxes that are the proprietor’s rather than the undertaking’s liabilities may not be deducted. The holding reaffirmed the principle that statutory vesting under the Business Undertakings (Acquisition) Act No. 35 of 1971, and rele