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Companies Act, 2008 (Act No. 71 of 2008)

Chapter 6 : Business Rescue and Compromise with Creditors

Part C : Rights of affected persons during business rescue proceedings

148. First meeting of employees’ representatives

 

 

1) Within 10 business days after being appointed, the practitioner must convene, and preside over, a first meeting of employees’ representatives, at which—
a) the practitioner must inform the employees’ representatives whether the practitioner believes that there is a reasonable prospect of rescuing the company; and
b) the employees’ representatives may determine whether or not an employees’ committee should be appointed and, if so, may appoint the members of the committee.

 

2) The practitioner must give notice of the meeting to every registered trade union representing employees of the company and, if there are any employees who are not represented by such a registered trade union, to those employees, or their representatives, setting out the—
a) date, time and place of the meeting; and
b) agenda for the meeting.