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

Chapter 7 : Remedies and Enforcement

Part D : Complaints to Commission or Panel

172. Objection to notices

 

 

1) Any person issued with a compliance notice in terms of this Act may apply to the Companies Tribunal in the case of a notice issued by the Commission, or to the Takeover Special Committee in the case of a notice issued by the Executive Director, or to a court in either case, to review the notice within—
a) 15 business days after receiving that notice; or
b) such longer period as may be allowed on good cause shown.

 

2) After considering any representations by the applicant and any other relevant information, the Companies Tribunal, the Takeover Special Committee, or a court may confirm, modify or cancel all or part of a compliance notice.

 

3) If the Companies Tribunal, the Takeover Special Committee or a court confirms or modifies all or part of a notice, the applicant must comply with that notice as confirmed or modified, within the time period specified in it, subject to subsection (4).

 

4) A decision by the Companies Tribunal or the Takeover Special Committee in terms of this section is binding, subject to any right of review by, or appeal to, a court.