Section 155:

155. Relevant interests to be disregarded in certain cases (1) For the purposes of section 156, no account shall be taken of a relevant interest of a person in a share if— (a) the ordinary business of the person who has the relevant interest consists of, or includes, the lending of money or the provision of C35 – 99 [Issue 1] Companies Act financial services, or both, and that person has the relevant interest only as security given for the purposes of a transaction entered into in the ordinary course of the business of that person; (b) that person has the relevant interest by reason only of acting for another person to acquire or dispose of that share on behalf of the other person in the ordinary course of business of a licensed investment dealer; (c) that person has the relevant interest solely by reason of being appointed as a proxy to vote at a particular meeting of members, or of a class of members, of the company and the instrument of that person’s appointment is produced before the start of the meeting in accordance with paragraph 6 (4) of the Fifth Schedule or by a time specified in the company’s constitution, as the case may be; (d) that person— (i) is a trustee corporation or a nominee company; and (ii) has the relevant interest by reason only of acting for another person in the ordinary course of business of that trustee corporation or nominee company; or (e) the person has the relevant interest by reason only that the person is a bare trustee of a trust to which the share is subject. (2) For the purposes of subsection (1) (d), a trustee corporation is a collective investment scheme authorised under the Securities Act. (3) For the purposes of subsection (1) (e), a trustee may be a bare trustee notwithstanding that he is entitled as a trustee to be remunerated out of the income or property of the trust. [S. 155 amended by s. 4 (l) of Act 20 of 2002 w.e.f. 1 December 2001; s. 156 (1) (h) of Act 22 of 2005 w.e.f. 28 September 2007.]