“Debt security” definition of section 2 of VAT Act

(iii)  “debt security” means-

      

(aa)     an interest in or right to be paid money; or

      

(bb)     an obligation or liability to pay money

  

that is, or is to be, owing by any person, but does not include a cheque;

[Paragraph (iii) substituted by section 149 of Act 60 of 2001]