It reads as follows:
WHEREAS the undermentioned property is registered in the name of -
XYZ PROPERTY CC
AND WHEREAS John Smith and Vanessa Smith are the members of XYZ Property CC.
AND WHEREAS in terms of Section 9 of the Transfer Duty Act 1949 as amended by the Taxation Laws Amendment Act No. 17 of 2009 and paragraph 51 of the Eighth Schedule to the Income Tax Act 1962 as amended by the Taxation Laws Amendment Act No. 17 of 2009, a Resolution was passed by XYZ Property CC on 26 October 2009 to its members in pursuance whereof the undermentioned property was to be transferred to John Smith and Vanessa Smith.
AND WHEREAS the requirements of paragraph 51 of the Eighth Schedule to the Income Tax Act, 1962 have been met.
NOW THEREFORE .....
Should the transfer emanate from a sale agreement the reference to the resolution must be substituted as such.