Public Service Commission Act, 1997
R 385
Insolvency Act, 1936 (Act No. 24 of 1936)114. Trustee to produce acquittances for dividends or to pay over unpaid dividends to Master |
| (1) | The trustee shall without delay lodge with the Master the receipts for dividends paid to creditors and if there is a contribution account the vouchers necessary to complete the account: Provided that a cheque purporting to be drawn payable to a creditor in respect of any dividend due to him and paid by the banker on whom it is drawn, may be accepted by the Master in lieu of any such receipt. |
| (2) | If any such dividend has at the expiration of a period of two months as from the confirmation of the account under which it is payable, not been paid out to the creditor entitled thereto, the trustee shall immediately pay in the dividend to the Master who shall deposit it in the Guardians' Fund for account of the creditor. |
| (3) | [Section 114(3) deleted by section 36(b) of Act No. 99 of 1965] |
