Protection of Businesses Act, 1978
R 385
Close Corporations Act, 1984 (Act No. 69 of 1984)Part IX : Winding up75. Vacancies in office of liquidators |
| (1) | When a vacancy occurs in the office of a liquidator of a corporation, the Master may— |
| (a) | here the vacancy occurs in the office of a liquidator nominated by members or creditors, direct any remaining liquidator to convene a meeting of creditors or members, as the case may be, to nominate a liquidator to fill the vacancy; |
| (b) | in a case other than a case contemplated in paragraph (a), if he is of opinion that any remaining liquidator will be able to complete the winding-up, dispense with the appointment of a liquidator to fill the vacancy, and direct the remaining liquidator to complete the winding-up; or |
| (c) | in any other case, appoint a liquidator to fill the vacancy. |
| (2) | The provisions of the Companies Act relating to the nomination or appointment of a liquidator, as applied by section 66 of this Act, and of this Act, shall apply to the nomination or appointment of a liquidator to fill a vacancy in the office of liquidator. |
