“sale and leaseback arrangement” means any arrangement whereby –
(a) any person disposes of any asset (whether directly or indirectly) to any other person; and
(b) such person or any connected person in relation to such person leases (whether directly or indirectly) such asset from such other person.
“securities lending arrangement” means a ‘lending arrangement’ as defined in the Securities Transfer Tax Act, 2007 (Act No. 25 of 2007);
‘SETA’ means a sector education and training authority established in terms of section 9(1) of the Skills Development Act, 1998, and defined as such in section 1 of that Act;
“severance benefit” means any amount (other than a lump sum benefit or an amount contemplated in paragraph (d)(ii) or (iii) of the definition of ‘gross income’) received by or accrued to a person by way of a lump sum from or by arrangement with the person’s employer or an associated institution in relation to that employer in respect of the relinquishment, termination, loss, repudiation, cancellation or variation of the person’s office or employment or of the person’s appointment (or right or claim to be appointed) to any office or employment, if-
(a) such person has attained the age of 55 years;
(b) such relinquishment, termination, loss, repudiation, cancellation or variation is due to the person becoming permanently incapable of holding the person’s office or employment due to sickness, accident, injury or incapacity through infirmity of mind or body; or
(c) such termination or loss is due to-
(i) the person’s employer having ceased to carry on or intending to cease carrying on the trade in respect of which the person was employed or appointed; or
(ii) the person having become redundant in consequence of a general reduction in personnel or a reduction in personnel of a particular class by the person’s employer,
unless, where the person’s employer is a company, the person at any time held more than five per cent of the issued shares or members’ interest in the company:
Provided that any such amount which becomes payable in consequence of or following upon the death of a person must be deemed to be an amount which accrued to such person immediately prior to his or her death;
“share” means, in relation to any company, any unit into which the proprietary interest in that company is divided;
“shareholder” ……….
[Definition of “shareholder” substituted by section 49 of Act 45 of 2003 and section 90 of Act 31 of 2013 and deleted by section 54 of Act 43 of 2014 effective on 20 January 2015]
‘sharia arrangement’ means an arrangement that is-
(a) open for participation by members of the general public; and
(b) presented as compliant with sharia law when the members of the general public are invited to participate therein.
“shipbuilding structure” means any launching way, fitting–out quay or craneway which is not part of a building.
“short selling” means the sale of any instrument by a person who is not the owner of such instrument, and in respect of which such person has the obligation to deliver such instrument at a future date;
“Short-term Insurance Act” means the Short-term Insurance Act, 1998 (Act No. 53 of 1998);