“Trust fund” definition of section 1 of VAT Act

“trust fund” means any fund consisting of cash or other assets the administration and control of which is entrusted to any person acting in a fiduciary capacity by any person, whether under a deed of trust or by agreement, or by a deceased person under a will made by that person;

[Definition of “trust fund” substituted by section 21 of Act 136 of 1991]