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SOURCE OF WEALTH

“Source of wealth” means the activities or circumstances that have produced or resulted in the total net worth of the person.

DOMESTIC PROMINENT INFLUENTIAL PERSON

A person is considered to be a Domestic Prominent Influential Person if he or she holds that position in South Africa, including in an acting position for a period exceeding six months. A person is also considered to be a domestic prominent influential person for a further 12 months from the date the person ceased to hold that position.

“Domestic Prominent Influential Person” includes:

• The President or Deputy President;
• A government minister or deputy minister;
• The Premier of a province;
• A member of the Executive Council of a province;
• An executive mayor of a municipality elected in terms of the Local Government Municipal Structures Act, 1998;
• A leader of a political party registered in terms of the Electoral Commission Act, 1996;
• The head, accounting officer or chief financial officer of a national or provincial department or government component as defined in section 1 of the Public Service Act, 1994;
• The municipal manager of a municipality appointed in terms of section 54A of the Local Government: Municipal Systems Act, 2000 or a chief financial officer designated in terms of section 80(2) of the Municipal Finance Management Act, 1999;
• The chairperson of the controlling body, the chief executive officer, or a natural person who is the accounting authority, the chief financial officer or the chief investment officer of a public entity listed in Schedule 2 or 3 to the Public Finance Management Act, 1999; The chairperson of the controlling body, chief executive officer, chief financial officer or chief investment officer of a municipal entity as defined in section 1 of the Local Government: Municipal Systems Act, 2000 (Act No. 32 of 2000);
• A constitutional court judge or any other judge as defined in section 1 of the Judges’ Remuneration and Conditions of Employment Act, 2001;
• An ambassador or high commissioner or other senior representative of a foreign government based in the Republic of South Africa;
• An officer of the South African National Defence Force above the rank of major-general;

The position of—

• Chairperson of the board of directors;
• Chairperson of the audit committee;
• Executive officer; or
• Chief financial officer of a company, as defined in the Companies Act, 2008 if the company provides goods or services to an organ of state and the annual transactional value of the goods or services or both exceeds an amount determined by the Minister of Finance by notice in the Gazette.

SPECIFIED U.S. PERSON

The term “Specified U.S. Person” means a U.S. Person, other than:

“Domestic Prominent Influential Person” includes:

• (i) a corporation the stock of which is regularly traded on one or more established securities markets;
• (ii) any corporation that is a member of the same expanded affiliated group, as defined in section 1471(e)(2) of the U.S. Internal Revenue Code, as a corporation described in clause (i);
• (iii) the United States or any wholly owned agency or instrumentality thereof;
• (iv) any State of the United States, any U.S. Territory, any political subdivision of any of the foregoing, or any wholly owned agency or instrumentality of any one or more of the foregoing;
• (v) any organisation exempt from taxation under section 501(a) of the U.S. Internal Revenue Code or an individual retirement plan as defined in section 7701(a)(37) of the U.S. Internal Revenue Code;
• (vi) any bank as defined in section 581 of the U.S. Internal Revenue Code;
• (vii) any real estate investment trust as defined in section 856 of the U.S. Internal Revenue Code;
• (viii) any regulated investment company as defined in section 851 of the U.S. Internal Revenue Code or any entity registered with the U.S. Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. 80a-64);
• (ix) any common trust fund as defined in section 584(a) of the U.S. Internal Revenue Code;
• (x) any trust that is exempt from tax under section 664(c) of the U.S. Internal Revenue Code or that is described in section 4947(a)(1) of the U.S. Internal Revenue Code;
• (xi) a dealer in securities, commodities, or derivative financial instruments (including notional principal contracts, futures, forwards, and options) that is registered as such under the laws of the United States or any State;
• (xii) a broker as defined in section 6045(c) of the U.S. Internal Revenue Code; or
• (xiii) any tax-exempt trust under a plan that is described in section 403(b) or section 457(g) of the U.S. Internal Revenue Code.