“legacy retirement annuity policy” means any policy held by a retirement annuity fund entered into before 1 September 2024 with a pre-universal life or universal life construct, subject to such conditions that the Financial Sector Conduct Authority may determine;

[Definition of “legacy retirement annuity policy” inserted by section 1(1)(b) of Act 12 of 2024 effective on 1 September, 2024 and applicable in respect of years of assessment commencing on or after that date]