Insolvency Amendment Act 78 of 1980

Insolvency Amendment Act, 1980 (No. 78 of 1980)

GENERAL EXPLANATORY NOTE:
[ ]  Words in bold type in square brackets indicate omissions from existing enactments. 
__ Words underlined with solid line indicate insertions in existing enactments.

Act

• to amend the Insolvency Act, 1936, so as
  • to provide that certain costs in connection with the engagement of a legal practitioner for the interrogation of a person at a meeting of creditors, shall be included in the costs of the sequestration of the estate;
  • to amend the provisions which require that notice be given of the taxation by the Master of certain costs; and
  • to delete the provisions which confer the power upon certain creditors and the insolvent to be present at such taxations and to object to certain costs; and
• to provide for incidental matters.

(English text signed by the State President.)
(Assented to 12 June 1980.)

BE IT ENACTED by the State President, the Senate and the House of Assembly of the Republic of South Africa, as follows:-

Amendment of section 73 of Act 24 of 1936, as amended by section 20 of Act 16 of 1943 and section 24 of Act 99 of 1965.

1. Section 73 of the Insolvency Act, 1936, is hereby amended-

(a) by the insertion after subsection (1) of the following subsection :

"(1A) Whenever a trustee with the prior approval of the Master engages an attorney or an attorney and an advocate to interrogate on his behalf any person at a meeting of Creditors in terms of section 65 (1), the costs incurred in connection with such engagement shall be included in the cost of the sequestration of the estate.";

(b) by the substitution for paragraph (a) of subsection (2) of the following paragraph:

"(a) All costs incurred under this section which are not subject to taxation by the taxing officer of the Court, shall [after fourteen days' notice by the trustee to each creditor who has proved a claim against the estate and to the insolvent,] be taxed by the Master according to a tariff framed by him and the Master may, if he deems it necessary that the insolvent or any creditor who has proved a claim against the estate be afforded the opportunity of attending the taxation and of objecting to any costs included in the bill of costs, direct the trustee to give the insolvent or such a creditor notice of the taxation in accordance with the directions stipulated by the Master."; and

(c) by the deletion of subsection (3).

Short title.

2. This Act shall be called the Insolvency Amendment Act, 1980.

Commencement

25 June 1980