Cap. 6:07
INSOLVENCY
No. 7/2018
to stop any action for the liquidation or inquiry connected with the
liquidation of the estate of the debtor or for agreeing or undertaking to
agree to a composition or rehabilitation or for not opposing or agreeing
not to oppose it for concealing or undertaking to conceal particulars of a
debtor or an insolvent estate; or
(f)
conceals, parts with, damages, destroys, alienates or otherwise disposes
of property attached in terms of section 29 or property belonging to the
debtor or his or her insolvent estate with intent to frustrate the attachment
of such property by virtue of a liquidation order, in terms of section 29,
or with intent to prejudice creditors of the insolvent estate; or
(g)
has in his or her possession or custody or under his or her control property
belonging to.an insolvent estate and intentionally fails to notify the
liquidator of the insolvent estate as soon as possible of the existence and
whereabouts of such property and to make it available to the liquidator;
or
(h)
intentionally impedes or hinders a liquidator or any person acting under
his or her command, in the execution of his or her duties; or
(i)
makes or causes or allows to be made a false nomination in terms of
section 41 or signs such a nomination without reasonable grounds for
believing it to be correct or who knowingly submits a false nomination
to the Master.
(3) A liquidator of an insolvent estate who fails to submit to the Master an
account or to pay over a sum of money within 30 days from the date on which he or
she became obliged to submit such account or pay over such sum of money, or fails to
comply with the duties listed in section 42 within 30 days from the date of liquidation
is guilty of an offence and liable on conviction to a fine or imprisonment for a period
not exceeding six months or to both a fine and such imprisonment.
(4) Any person who is convicted of an offence contemplated(a) in subsection ( 1)(a) or (b) or subsection (2)(f), (g) or (h) is liable to a fine
or to imprisonment for a period not exceeding three years or to both a
fine and such imprisonment;
(b) in subsection (l)(c), (d), (e), (e), (f), (g), (h), (i) or U) or subsection (2)
(e) is liable to a fine or to imprisonment for a period not exceeding 12
months or to both a fine and such imprisonment;
(c)
in subsection (2)(a), (b), (c) or (d) is liable to a fine or to imprisonment for
a period not exceeding six months or to both a fine and such imprisonment.
PART XXV
CROSS-BORDER INSOLVENCIES
SUB-PART
1- INTERPRETATION
AND FUNDAMENTAL PRINCIPLES
150 Interpretation
For the purposes of this Part"Court" means a High Court referred to in section 154;
"curator of an institution" means a curator appointed in terms of the Banking
Act [Chapter 24:20];
"establishment" means any place of operations where the debtor carries out a
non transitory economic activity with human means and goods or services;
"foreign Court" means a judicial or other authority competent to control or
supervise foreign proceedings;
"foreign main proceedings" means foreign proceedings taking place in the
State where the debtor has the centre of its main interests;
311
Select target paragraph3
Add to table of contents