The FSCA has imposed an administrative penalty of R118 340 000 on Tongaat for contravening section 81 of the FMA 2012. Noting Tongaat's current financial position; to avoid penalising innocent Tongaat shareholders further and Tongaat's commitment to continue co-operating fully with the FSCA in all future actions taken against any persons allegedly responsible for the wrongdoing, the FSCA has resolved, under Section 173 of the FSR Act, to remit a portion of the administrative penalty resulting in the FSCA issuing an order for Tongaat to pay a penalty of R20 million, inclusive of the costs incurred by the FSCA in investigating this matter.