Section 562 of The Companies Act No. 17 of 2015: Interest in shares: general
(1) This section applies to determine for the purposes of this Part whether a person has an interest in shares.
(2) In this Part—
(a) a reference to an interest in shares includes an interest of any kind whatsoever in the shares; and
(b) any restraints or restrictions to which the exercise of any right attached to the interest is or may be subject are to be disregarded.
(3) If an interest in shares is comprised in property held on trust, every beneficiary of the trust is treated as having an interest in the shares.
(4) A person is taken to have an interest in shares if—(a) the person enters into a contract to acquire them; or
(b) not being the registered holder, the person is entitled— (i) to exercise any right conferred by holding the shares; or (ii) to control the exercise of any such right.
(5) For the purposes of subsection (4)(b) a person is entitled to exercise or control the exercise of a right conferred by holding shares if the person—
has a right (whether subject to conditions or not) the exercise of which would make the person so entitled; or
(b) is under an obligation (whether subject to conditions or not) the fulfilment of which would result in the person becoming so entitled.
(6) A person is also taken to have an interest in shares if—
(a) the person has a right to call for delivery of the shares to the person or to the person's order; or
(b) the person has a right to acquire an interest in shares or is under an obligation to take an interest in shares.
(7) Subsection (6) applies whether the right or obligation is conditional or absolute.
(8) Persons having a joint interest are each taken to have that interest.
(9) It does not matter that shares in which a person has an interest are unidentifiable.
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