“listed company” means a company where its shares or depository receipts in respect of its shares are listed on –

(a)     an exchange as defined in section 1 of the Financial Markets Act and licensed under section 9 of that Act; or

(b)     a stock exchange in a country other than the Republic which has been recognised by the Minister as contemplated in paragraph (c) of the definition of “recognised exchange” in paragraph 1 of the Eighth Schedule;