in relation to a share block company, means the total amount owing from time to time by the company, excluding any amount owing by the company in respect of—
| a) | its share capital; |
| b) | the aggregate of the amounts transferred in terms of the Companies Act to the reserves and provisions of the company; |
| c) | any debt to be discharged from moneys in the levy fund established in terms of section 13 by the company; |