“trading stock” for purposes of sections 42, 44, 45 and 47, includes any livestock or produce contemplated in the First Schedule and any reference to an amount taken into account in respect of an asset in terms of section 11(a) or 22(1) or (2) shall, in the case of such livestock or produce, be construed as a reference to the amount taken into account in respect thereof in terms of paragraph 5(1) or 9 of the First Schedule, as the case may be;

[Definition of “trading stock” inserted by section 49 of Act 45 of 2003, substituted by section 52 of Act 35 of 2007, amended by section 61 of Act 7 of 2010 and substituted by section 54 of Act 43 of 2014 effective on 20 January 2015]