Insolvency Second Amendment Act 69 of 2002

Files
Attachment Size
a69-020.pdf 324.38 KB
69 of 2002

The Insolvency Second Amendment Act 69 of 2002 intends:

  • to amend the Insolvency Act, 1936, so as:
    • to require notice of a petition for the sequestration of a debtor's estate to be given to employees of the debtor, registered trade unions representing such employees, the South African Revenue Service and the debtor;
    • to provide for the service of sequestration orders on such employees, trade unions and the South African Revenue Service;
    • to make further provision regarding a debtor's rights to compensation; and
    • so as to effect certain textual corrections;
  • to amend the Companies Act, 1973 [repealed in May 2011], so as:
    • to require notice of an application for the winding-up of a company to be given to employees of the company, registered trade unions representing such employees, the South African Revenue Service and the company;
    • to provide for the service of winding-up orders on such employees, trade unions, the South African Revenue Service and the company;
    • to make provision regarding a company's rights to compensation; and
  • to provide for matters incidental thereto.

Commencement

1 January 2003

Share this page