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

Notices

Bargaining Council for the Hairdressing, Cosmetology, Beauty and Skincare Industry (Pretoria)

Main Collective Agreement

42B. 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) of the L. R. A.

 

(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) of the L.R.A with a copy of the application.
(c) 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) of the L.R.A, within two days of receipt, or if the proceedings are urgent, within 12 hours.