In these Regulations, unless the context otherwise indicates, every word takes the meaning as defined in the Act, and –

"approved"

means approved by the Board;

"available capital"

means the amount calculated in accordance with regulation 11(3);

[Definition inserted by regulation 3(a) of Notice No. R. 1224 dated 14 November 2008]

"code of conduct"

means the code of conduct published by Board Notice No 127 in Gazette No. 25656 of 31 October 2003;

"construction procurement"

means procurement in the construction industry, including the invitation, award and management of contracts;

"class of construction works"

means a class referred to in Schedule 3;

"employable capital"

[Definition deleted by regulation 3(b) of Notice No. R. 1224 dated 14 November 2008]

"employer"

means a person, body of persons or organ of state who enters into a prime contract with a contractor for the provision of construction works;

"financial sponsorship"

means a financial sponsorship contemplated in regulation 7(10);

[Definition substituted by regulation 3(c) of Notice No. R. 1224 dated 14 November 2008]

"joint venture"

means a grouping of two or more contractors who jointly and severally undertake to perform a construction works contract;

"net asset value"

means the sum of a person's equity, retained income and shareholders or members loans;'

[Definition inserted by regulation 3(d) of Notice No. R. 1224 dated 14 November 2008]

"NHBRC"

[Definition deleted by regulation 3(e) of Notice No. R. 1224 dated 14 November 2008]

"practical completion certificate"

means a certificate issued in terms of a contract by the employer, signifying that the whole of the construction works have reached a state of readiness for occupation or use for the purposes intended, although some minor work may be outstanding;

"prime contract"

means a construction works contract that does not form part of the scope of work of another contractor;

"principal"

means a natural person who is a partner in a partnership, a sole proprietor, a director in a company or a member of a close corporation;

"programme"

means a series of projects aimed collectively at a predefined outcome;

"qualified person"

means a person who is recognised by virtue of his or her training and experience as having the necessary qualifications to undertake construction works in a specific category as contemplated in regulation 12(8);

"the Act"

means the Construction Industry Development Board Act, 2000 (Act No. 38 of 2000).