"South African person"
means—
| (a) | a South African citizen in terms of the South African Citizenship Act, 1995 (Act No. 88 of 1995); |
| (b) | a company registered in terms of the Companies Act, 1973 (Act No. 61 of 1973), of which the majority of shareholders, as prescribed by the Minister, are South African persons; |
| (c) | a close corporation in terms of the Close Corporations Act, 1984 (Act No. 69 of 1984), of which the majority of members are South African persons; |
| (i) | the majority of trustees having the controlling power at any given time are South African citizens; or |
| (ii) | a majority of the beneficial interests are held by South African citizens; or |
| (e) | a co-operative registered in terms of the Co-operatives Act, 2005 (Act No. 14 of 2005), of which all the members are South African citizens but, where any member is a juristic person, such person's principal place of business must be in the Republic; |
[Definition substituted by section (1)(b), (c) and (d) of Act No. 5 of 2014]