(1)       For the purposes of this section-

“acquisition transaction” means any transaction in terms of which a company acquires an equity share in another company from a person that does not form part of the same group of companies as that company, if-

(a)     that other company is-

(i)  an operating company on the date of acquisition of that share; and

(ii) as a result of which, at the end of the day of that transaction-

(aa)   that company is a controlling group company in relation to that other company; and

(bb)   that company and that other company form part of the same group of companies as defined in section 41(1); or

(b)      that other company is-

(i)  a controlling group company in relation to a company that is an operating company on the date of acquisition of that share and that forms part of the same group of companies, as defined in section 41(1), as that controlling group company; and

(ii) as a result of which, at the end of the day of that transaction-

(aa)   that company is a controlling group company in relation to that other controlling group company; and

(bb)   that company and that other controlling group company form part of the same group of companies as defined in section 41(1);

[Definition of “acquisition transaction” substituted by section 31(1)(a) of Act 34 of 2019 deemed effective on 1 January, 2019 and applicable in respect of years of assessment ending on or after that date]