Stamp Duties Act, 1968 (Act 77 of 1968)
R 385
Insolvency Act, 1936 (Act No. 24 of 1936)29. Voidable preferences |
| (1) | Every disposition of his property made by a debtor not more than six months before the sequestration of his estate or, if he is deceased and his estate is insolvent, before his death, which has had the effect of preferring one of his creditors above another, may be set aside by the Court if immediately after the making of such disposition the liabilities of the debtor exceeded the value of his assets, unless the person in whose favour the disposition was made proves that the disposition was made in the ordinary course of business and that it was not intended thereby to prefer one creditor above another. |
| (2) | [Section 29(2) deleted by section 9(b) of Act No. 64 of 1960] |
| (3) | Every disposition of property made under a power of attorney whether revocable or irrevocable, shall for the purposes of this section and of section thirty be deemed to be made at the time at which the transfer or delivery or mortgage of such property takes place. |
| (4) | For the purposes of this section any period during which the provisions of subsection (1) of section eleven of the Farmers' Assistance Act, 1935 (Act No. 48 of 1935), applied in respect of any debtor as an applicant in terms of the said Act, shall not be taken into consideration in the calculation of any period of six months. |
