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Labour Relations Act, 1995 (Act No. 66 of 1995

Chapter VIII : Unfair Dismissal and Unfair Labour Practice

197B. Disclosure of information concerning insolvency

 

(1) An employer that is facing financial difficulties that may reasonably result in the winding—up or sequestration of the employer, must advise a consulting party contemplated in section 189(1).

 

(2)
(a) An employer that applies to be wound up or sequestrated, whether in terms of the Insolvency Act, 1936, or any other law, must at the time of making application, provide a consulting party contemplated in section 189(1) with a copy of the application.
(b) An employer that receives an application for its winding—up or sequestration must supply a copy of the application to any consulting party contemplated in section 189(1), within two days of receipt, or if the proceedings are urgent, within 12 hours.

 

[Section 197B inserted by section 50 of Act No. 12 of 2002]

 

 


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