The definition of a company.

A “company” means a juristic person incorporated in terms of this Act, a domesticated company, or a juristic person that, immediately before the effective date was registered in terms of the old Companies Act, 1973 (Act No. 61 of 1973) or the Close Corporations Act, 1984 (Act No. 69 of 1984).

A “juristic person” includes a foreign company and a trust, irrespective of whether or not it was established within or outside the Republic.

Trust

As observed by Cameron JA in Land and Agricultural Bank of SA v Parker and others 2005 (2) SA 77 (SCA) paragraph 10 at 83H a trust is “an accumulation of assets and liabilities”. Although forming a separate entity that entity, like a deceased estate, is not a legal persona. The assets and liabilities constituting the trust vest in the trustees and it is they who must administer them. They are therefore not the agents of the trust, nor for that matter of the beneficiaries….” Page 132 of [2006] 4 All SA 129 (SCA)