“date of redemption”, in relation to an instrument, means-

 

(a)     where-

 

(i)      the terms of that instrument specify a date on which all liability to pay all amounts in terms of that instrument will be discharged; and

 

(ii)     the date so specified is not, in terms of the instrument, subject to change, whether as a result of any right, fixed or contingent, of the holder of that instrument or otherwise,

 

that date; or

 

(b)     where-

 

(i)      the terms of that instrument do not specify a date as contemplated in paragraph (a)(i); or

 

(ii)     that date, if so specified, is subject to change as contemplated in paragraph (a)(ii),

 

the date on which, on a balance of probabilities, all liability to pay all amounts in terms of that instrument is likely to be discharged;