No. 7/2018 INSOLVENCY Cap. 6:07 (3) The liquidator shall report to the Minister his findings and, where appropriate, the result of his or her mediation in any dispute, within 30 days after being directed by the Minister to conduct an investigation. (4) If, on receipt of the liquidator's report, the Minister considers that(a) the resolution for the voluntary winding up of the company concerned was passed for a purpose referred to in subsection (l)(a) he or she may, within two weeks after the report was submitted to him, refer it to the Registrar of Labour Relations referred to in section 121 of the Labour Act [Chapter 28:01]; (b) any settlement which the liquidator has negotiated between the company concerned and its employees, including a takeover by the employees, should be made binding, he may, within two weeks after the report was submitted to him, direct the company to take all necessary steps, subject to the Companies Act [Chapter 24:31], to ensure that the settlement is implemented by the liquidator; (c) any dispute between the company and its employees regarding the termination of their employment should be submitted to arbitration, he may. within two weeks after the report was submitted to him, refer the parties to the dispute to arbitration in terms of the Arbitration Act [Chapter 7:15]; and the company shall comply with any directions the Minister may give it in this regard. 12 Commencement of voluntary liquidation of a company The voluntary liquidation of a company under section 9 or 10 shall be deemed to commence(a) four weeks after the resolution for the company's voluntary liquidation was passed, unless the Minister has appointed the liquidator to investigate the company's affairs in terms of 11; (b) where the Minister has appointed the liquidator to investigate the company's affairs in terms of section 11(i) eight weeks after the liquidator's appointment, unless the Minister has referred parties to arbitration in terms of section 11(4)(c); or (ii) upon the final conclusion of the arbitration, where the Minister has referred parties to arbitration in terms of section 11 (4)(c). PART III Acr HAS LIMITED APPLICATION To CERTAIN TYPEs OF DEBTOR 13 Act has limited application to certain types of debtor (l) This Act does not apply in respect of- (a) (b) (c) (d) an insurance company as defined in the Insurance Act [Chapter 24:07]; or a bank as defined in the Banking Act [Chapter 24:20]; a registered securities exchange, operator of a central securities depository. securities market transaction and any licensed person licensed or registered in terms of the Securities Act [Chapter 24:25]; any person registered in terms of the Asset Management Act [Chapter 24:26 j and Collective Investment Schemes Act [Chapter 24: 19]; except insofar as it is made applicable by the provisions of the aforesaid legislation. 214