‘advance ruling’ means a ‘binding general ruling’, a ‘binding private ruling’ or a ‘binding class ruling’;

‘applicant’ means a person who submits an ‘application’ for a ‘binding private ruling’ or a ‘binding class ruling’;

‘application’ means an application for a ‘binding private ruling’ or a ‘binding class ruling’;

‘binding class ruling’ means a written statement issued by SARS regarding the application of a tax Act to a specific ‘class’ of persons in respect of a ‘proposed transaction’;

‘binding effect’ means the requirement that SARS interpret or apply the applicable tax Act in accordance with an ‘advance ruling’ under section 82;

‘binding general ruling’ means a written statement issued by a senior SARS official under section 89 regarding the interpretation of a tax Act or the application of a tax Act to the stated facts and circumstances;

‘binding private ruling’ means a written statement issued by SARS regarding the application of a tax Act to one or more parties to a ‘proposed transaction’, in respect of the ‘transaction’;

‘class’ means-

 

(a)     shareholders, members, beneficiaries or the like in respect of a company, association, pension fund, trust, or the like; or

 

(b)     a group of persons, that may be unrelated and-

 

(i)      are similarly affected by the application of a tax Act to a ‘proposed transaction’; and

 

(ii)     agree to be represented by an ‘applicant’;

‘class member’ and ‘class members’ means a member or members of the ‘class’ to which a ‘binding class ruling’ applies;