‘short-term insurer’ means-

(a)     a company that is licensed under the Insurance Act and is conducting non-life insurance business as defined in that Act;

[Paragraph (a) substituted by section 21(1)(a) of Act 20 of 2021]

(b)     a micro-insurer as defined in section 1 of the Insurance Act; or

(c)     a foreign reinsurer conducting insurance business through a branch in the Republic in terms of section 6 of the Insurance Act;

[Definition of “short-term insurer” substituted by section 52 of Act 25 of 2015 (substitution by section 52 of Act 25 of 2015 deleted by section 107 of Act 23 of 2018 effective on 8 January 2016) and substituted by section 50 of Act 23 of 2018 effective on 1 July 2018, applies to years of assessment ending on or after that date]