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

Part IX : Winding up

Purchase

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.