‘operating company’ means-

(a)     any company that carries on business continuously, and in the course or furtherance of that business-

(i)      provides goods or services for consideration; or

(ii)     carries on exploration for natural resources;

[Paragraph (a) substituted by section 7 of Act 43 of 2014 effective on 1 January 2013]

(b)     any company that is a controlling group company in relation to a company contemplated in paragraph (a);or

(c)     any company that is a listed company;