In a large pot over medium/high heat, heat the olive oil and quickly brown the beef pieces on all sides. Place the onion, green capsicum, celery and carrots into the pot and fry for 5 minutes; stirring occasionally. Remove from heat.
In a mixing bowl, combine the honey, lemon juice, mustard, tomato sauce, water, salt and pepper. Mix thoroughly.
Transfer the meat and vegetables to a 2 litre casserole dish. Pour the sauce mixture over the meat and vegetables.
Bake in a preheated oven for 2 to 2 1/2 hours or until meat is tender.