“Financial Services Board Act” ……….

[Definition of “Financial Services Board Act” inserted by section 1 of Act 43 of 2014 and deleted by section 1 of Act 23 of 2018 effective on 1 April 2018]

“Financial Services Board” ……….

[Definition of “Financial Services Board” inserted by section 1 of Act 43 of 2014 and deleted by section 1 of Act 23 of 2018 effective on 1 April 2018]

“Estate Duty Act” means the Estate Duty Act, 1955 (Act No. 45 of 1955);

[Definition of “Estate Duty Act” inserted by section 1 of Act 43 of 2014 effective on 20 January 2015]

“collateral arrangement” means a collateral arrangement as defined in section 1 of the Securities Transfer Tax Act, 2007 (Act No. 25 of 2007);

[Definition of “collateral arrangement” inserted by section 3 of Act 25 of 2015 effective on 1 January 2016]

“Financial Markets Act” means the Financial Markets Act, 2012 (Act No. 19 of 2012);

 “foreign investment entity” means any person other than a natural person-

(a)     that is not incorporated, established or formed in the Republic;

(b)     the assets of which consist solely of a portfolio of one or more of the following:

(i)      amounts in cash or that constitute cash equivalents;

 

(ii)     financial instruments that-

 

(aa)   are issued by a listed company or by the government of the Republic in the national, provincial or local sphere; or

 

(bb)   if not issued by a listed company or by the government of the Republic in the national, provincial or local sphere, are traded by members of the general public and a market for that trade exists;

 

(iii)    financial instruments, the values of which are determined with reference to financial instruments contemplated in subparagraph (ii); or

 

(iv)    rights to receive any asset contemplated in subparagraph (i), (ii) or (iii),

 

which amounts, financial instruments and rights are held by that person for investment purposes;

(c)     where no more than 10 per cent of the shares, units or other form of participatory interest in that person are directly or indirectly held by persons that are residents; and

(d)     where that person has no employees and has no directors or trustees that are engaged in the management of that person on a full-time basis;

“Commissioner” means the Commissioner for the South African Revenue Service appointed in terms of section 6 of the South African Revenue Service Act, 1997 (Act No. 34 of 1997), or the Acting Commissioner designated in terms of section 7 of that Act;