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days’ written notice to the culpable person, apply to a judge in chambers for an order
confirming the statement, and subsections (1) and (2) shall, if the judge confirms the
statement, apply to the order of the judge confirming it.
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Powers of administrator in relation to culpable persons
For the duration of the reconstruction or a period of six months from the commencement
of the reconstruction, whichever is the shorter period, the administrator shall have power—
(a) to call for the production of, and examine, take extracts from and take possession of
any books, accounts or records belonging to or in the custody of a culpable person or
any other person employed by or associated with the culpable person;
(b) to examine any property of the culpable person;
(c) to question a culpable person or any other person employed by or associated with
the culpable person;
(d) to enter any premises—
(i) belonging to or controlled by a culpable person;
(ii) wherein or whereon he or she has reason to believe there may be evidence as
to any transaction carried out by or on behalf of a culpable person.
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Transactions by culpable persons
(1) For the duration of the reconstruction or a period of six months from the
commencement of the reconstruction, whichever is the shorter period, a culpable person shall
not, subject to this section—
(a) expend or in any way dispose of any of his or her property; or
(b) enter into any contract for the disposal of any of his or her property; or
(c) operate any account with any financial institution; or
(d) increase his or her indebtedness or adversely affect his or her estate;
without the approval of the administrator or otherwise than in accordance with any conditions
imposed by the administrator.
(2) The administrator may—
(a) grant general approval for any specified class of transactions on the part of the
culpable person concerned; and
(b) impose conditions on any approval granted by him or her in terms of this section.
(3) Subsection (1) shall not apply in respect of—
(a) any transaction on the part of a culpable person where the total value of the property
or expenditure does not exceed one hundred thousand dollars; or
(b) anything done in pursuance of any order of any court.
(4) Any transaction carried out in contravention of subsection (1) shall be void, and
where any property has been transferred as a result of any such transaction, the administrator
may, on behalf of the culpable person, recover any such property by proceedings in any court
of competent jurisdiction.
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