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Close Corporations Act, 1984 (No. 69 of 1984)

Part IX : Winding up

80. Repayments by members or former members


The liquidator of a corporation unable to pay its debts—

(a) shall ascertain whether members or former members of the corporation are liable in terms of section 70(2) or (3) to make repayments;
(b) shall ascertain whether circumstances justify an approach to the Master for a direction that members or former members of the corporation make repayments in terms of section 71(1) or (2);
(c) may, if necessary, enforce such repayments; and
(d) may, in the event of the death of such member or former member liable for or directed to make a repayment, or of the insolvency of his estate, claim the amount due from the estate concerned.