“legacy retirement annuity policy” means any policy issued to a retirement annuity fund by a long-term insurer before 1 September 2024 with a pre-universal life or universal life construct that meets the conditions determined in an official notice by the Financial Sector Conduct Authority;

[Definition of “legacy retirement annuity policy” inserted by section 1(1)(b) of Act 12 of 2024 and substituted by section 1(1)(a) of Act 44 of 2024 deemed to have come into operation on 1 September, 2024]