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Insolvency Act

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Insolvency Act

No. 69 of 2002: Insolvency Second Amendment Act, 2002.

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, 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.

No. 33 of 2002: Insolvency Amendment Act, 2002.

To amend the Insolvency Act, 1936, so as to further regulate the effect of sequestration on employment contracts and claims for severance and retrenchment pay; and to provide for matters incidental thereto.

 

 

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