“alternative method” means a method of calculating interest in relation to any class of instruments which-

(a)     is in accordance with IFRS;

(b)     is consistently applied in respect of all such instruments for all financial reporting purposes; and

(c)     method achieves a result in so far as the timing of the accrual and incurral of interest is concerned which produces substantially the same result achieved by the application of the provisions of subsections (2)(a) and (3)(a);

[Definition of “alternative method” substituted by section 43 of Act 17 of 2017 effective on 18 December 2017]