includes—
| a) | any sphere of the Government of the Republic; |
| b) | any body of persons (incorporated or unincorporated); |
| c) | the estate of any deceased or insolvent person; |
| d) | any trust fund; and |
| e) | any portfolio comprised in any collective investment scheme in securities contemplated in Part IV of the Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002); |