Housing Consumer Protection Measures Act, 1998
R 385
Insolvency Act, 1936 (Act No. 24 of 1936)113. Distribution of estate and collection of contributions from creditors |
| (1) | Immediately after the confirmation of a trustee's account, the trustee shall give notice of the confirmation in the Gazette and shall state in that notice according to the circumstances, that a dividend to creditors is in course of payment or that a contribution is in course of collection from the creditors and that every creditor liable to contribute is required to pay to the trustee the amount for which he is so liable. |
| (2) | If any contribution is payable, the trustee shall specify fully in that notice the address at which the payment of the contribution is to be made, and shall deliver or post a copy of the notice to every creditor liable to contribute. |
| (3) | Immediately after the confirmation of a trustee's account the trustee shall in accordance therewith distribute the estate or collect from each creditor liable to contribute the amount for which he is liable. |
