beneficial owner

‘‘beneficial owner’’—

(a)	of a company, has the meaning assigned to it by section 1 of the Companies Act, 2008 (Act No. 71 of 2008);

(b)	of a partnership, means a natural person who, directly or indirectly, ultimately owns, or exercises effective control of, the partnership, and includes—

(i)	every partner, including every member of a partnership en commandite, an anonymous partnership or any similar partnership;

(ii)	if a partner in the partnership is a legal person or a natural person acting on behalf of a partnership or in pursuance of the provisions of a trust agreement, the beneficial owner of that legal person, partnership or trust; and

(iii)

the natural person who exercises executive control over the partnership; and

(c)	of a trust, has the meaning assigned to it by section 1 of the Trust Property Control Act, 1988 (Act No. 57 of 1988).

[Definition inserted by section 25 of the Tax Administration Laws Amendment Act, 2023, GG49947, dated 22 December 2023 ]