"carbon budget"

means an assigned amount of greenhouse gas emissions allocated to a person, as contemplated in section 27 of the Climate Change Act, 2024 (Act No. 22 of 2024), for direct emissions arising from the operations of that person over a defined time period;

[Definition substituted by section 53(1) of the Taxation Laws Amendment Act, 2026, Notice No. 7344, GG54448, dated 1 April 2026 - comes into operation with effect from a date determined by the Minister of Finance by notice in the Gazette (section 53(2))]