“transaction” means –

(a)     in relation to paragraphs (a) and (c) of the definition of “property”, an agreement whereby one party thereto agrees to sell, grant, waive, donate, cede, exchange, lease or otherwise dispose of property to another person or any act whereby any person renounces any right in or restriction in his or her favour upon the use or disposal of property; or

[Paragraph (a) substituted by section 1 of Act 24 of 2011]

(b)     in relation to any shares or member’s interest contemplated in paragraph (d) or (e) of the definition of “property”, an agreement whereby one party thereto agrees to sell, grant, waive, donate, cede, exchange, issue, buy-back, convert, vary, cancel or otherwise dispose of any such shares or member’s interest to another person or any act whereby any person renounces any right in or restriction in his or her favour upon the use or disposal of any such shares or member’s interest; or

(c)     in relation to a discretionary trust, the substitution or addition of one or more beneficiaries with a contingent right to any property of that trust, which constitutes residential property or shares or member’s interest contemplated in paragraph (d) or (e) of the definition of “property” or a contingent right contemplated in paragraph (f) of that definition;

[Definition of “transaction” substituted by section 2 of Act 74 of 2002]