Protection of Businesses Act, 1978
R 385
Companies Act, 1973 (Act No. 61 of 1973)Chapter XV: Judicial Management437. Period of judicial management to be discounted in determining preference under mortgage bond |
The time during which any company being a mortgage debtor in respect of any mortgage bond, is subject to a judicial management order, shall be excluded in the calculation of any period of time for the purpose of determining whether such mortgage bond confers any preference in terms of section 88 of the Insolvency Act, 1936 (Act No. 24 of 1936), as applied to the winding-up of companies by this Act.
