Protection of Businesses Act, 1978
R 385
Companies Act, 1973 (Act No. 61 of 1973)Chapter XIV: Winding-up of CompaniesLiquidators375. Appointment, commencement of office and validity of acts of liquidator |
| 1) | When the person to be appointed to the office of liquidator of a company has been determined and when such person has given security to the satisfaction of the Master for the proper performance of his duties as liquidator, except where in the case of a members' voluntary winding-up the company concerned has resolved that no security shall be required, the master shall appoint him as liquidator of the company by issuing to him a certificate of appointment. |
| 2) | The said certificate of appointment shall be valid throughout the Republic. |
| 3) | A liquidator shall be entitled to act as such from the date of his certificate of appointment. |
| 4) | The acts of a liquidator shall be valid notwithstanding any defects that may afterwards be discovered in his appointment or qualification. |
| 5) | Upon receipt of such certificate of appointment the liquidator shall- |
| a) | within seven days after receipt thereof send a copy thereof to the Registrar under cover of the prescribed form; and |
| b) | give notice of his appointment in the Gazette. |
