(iii) “debt security” means-
(aa) an interest in or right to be paid money; or
(bb) an obligation or liability to pay money
that is, or is to be, owing by any person, but does not include a cheque;
[Paragraph (iii) substituted by section 149 of Act 60 of 2001]
(ii) “currency” means any banknote or other currency of any country, other than when used as a collector’s piece, investment article, item of numismatic interest, or otherwise than as a medium of exchange;
(2) For the purposes of subsection (1)-
(i) “cheque” means a bill drawn on a bank payable on demand, a postal order, a money order, a traveller’s cheque, or any order or authorisation (whether in writing, by electronic means, or otherwise) to a financial institution to credit or debit any account;
[Paragraph (i) substituted by section 10 of Act 20 of 1994 and section 93 of Act 32 of 2004]
ARRANGEMENT OF SECTIONS
“welfare organisation” means any public benefit organisation contemplated in paragraph (a) of the definition of ‘public benefit organisation’ in section 30(1) of the Income Tax Act that has been approved by the Commissioner in terms of section 30(3) of that Act, if it carries on or intends to carry on any welfare activity determined by the Minister for purposes of this Act, relating to those activities that fall under the headings-
(a) welfare and humanitarian;
(b) health care;
(c) land and housing;
(d) education and development; or
(e) conservation, environment and animal welfare.
[Definition of “welfare organization” substituted by section 21 of Act 136 of 1991, GN 2695 of 1991, section 12 of Act 136 of 1992, section 81 of Act 53 of 1999, section 148 of Act 60 of 2001 and section 92 of Act 32 of 2004 and amended by section 77 of Act 20 of 2006]
(2) Unless the context indicates otherwise, a word or expression to which a meaning has been assigned in the Tax Administration Act bears that meaning for purposes of this Act.
[Subsection (2) inserted by section 271 of Act 28 of 2011 effective on 1 October 2012]
“vendor” means any person who is or is required to be registered under this Act: Provided that where the Commissioner has under section 23 or 50A determined the date from which a person is a vendor that person shall be deemed to be a vendor from that date;
[Definition of “vendor” amended by section 23 of Act 27 of 1997]
“VAT registration number”, in relation to any vendor, means the number allocated to that vendor by the Commissioner in terms of section 24 of the Tax Administration Act;
[Definition of “VAT registration number” inserted by section 43 of Act 16 of 2004 and substituted by section 271 of Act 28 of 2011 effective on 1 October 2012]
“trust fund” means any fund consisting of cash or other assets the administration and control of which is entrusted to any person acting in a fiduciary capacity by any person, whether under a deed of trust or by agreement, or by a deceased person under a will made by that person;
[Definition of “trust fund” substituted by section 21 of Act 136 of 1991]
“transitional metropolitan council” means a transitional metropolitan council as defined in section 1 of the Local Government Transition Act, 1993 (Act No. 209 of 1993);
[Definition of “transitional metropolitan council” inserted by section 9 of Act 20 of 1994]
“Transfer Duty Act” means the Transfer Duty Act, 1949 (Act No. 40 of 1949);
[Definition of “Transfer Duty Act” inserted by section 9 of Act 20 of 1994]