See section 129 (3), (4)(b) and (7), and section 131 (8)
(1) |
A Notice of Commencement of Business Rescue Proceedings, contemplated in section 129, must be in form CoR 123.1, and filed in accordance with section 129, together with a copy of the board resolution to commence business rescue proceedings. |
(2) |
After filing its Notice of Commencement of Business Rescue Proceedings, the company must publish that Notice as required in section 129 (3)(a), by— |
(a) |
delivering a copy of the Notice and resolution to every affected person in accordance with regulation 7; and |
(b) |
conspicuously displaying a copy of the Notice— |
(i) |
at the registered office of the company, the principal places of conducting the business activities of the company and at any workplace where employees of the company are employed; |
(ii) |
on any website that is maintained by the company and intended to be accessible by affected persons; and |
(iii) |
if it is a listed company, on any electronic system maintained by the relevant exchange for the communication and inter-change of information by and among companies listed on that exchange. |
(3) |
A Notice of Appointment of a Business Rescue Practitioner by the company, as contemplated in section 129 (3), must be in form CoR 123.2, and filed in accordance with section 129 (4)(a). |
(4) |
After filing its Notice of Appointment of a Business Rescue Practitioner, the company must publish a copy of that Notice as required in section 129(4)(b), by either— |
(a) |
delivering a copy of the Notice to each affected person in accordance with regulation 7; or |
(b) |
informing each affected person of the availability of a copy of the Notice, in the manner contemplated in section 6 (11)(b )(ii) and regulation 6. |
(5) |
A company whose board is required in terms of section 129 (7) to deliver a notice to affected persons advising that it has not resolved to commence business rescue proceedings, must either— |
(a) |
deliver a notice in Form CoR 123.3 to each affected person in accordance with regulation 7; or |
(b) |
inform each affected person of the availability of a copy the Notice, in the manner contemplated in section 6(11)(b)(ii) and regulation 6. |
(6) |
A company that is placed under business rescue proceedings by a court order in terms of section 131, must notify each affected person, as required by section 131 (8)(b), by— |
(a) |
delivering a copy of the court order to every affected person in accordance with regulation 7; and |
(b) |
conspicuously displaying a copy of the court order— |
(i) |
at the registered office of the company, the principal places of conducting the business activities of the company and at any workplace where employees of the company are employed; |
(ii) |
on any website that is maintained by the company and intended to be accessible by affected persons; and |
(iii) |
if it is a listed company, on any electronic system maintained by the relevant exchange for the communication and inter-change of information by and among companies listed on that exchange. |