Section 264: Company’s failure to execute deed
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
264. Company’s failure to execute deed
Where the creditors at a watershed meeting have passed a resolution that
the company execute a deed of company arrangement and the company fails
to do so within the deadline for execution, the administrator shall—
(a) apply to the Court for the appointment of a liquidator to the
company; or
(b) if the company is already in liquidation, apply to the Court for
the liquidation to resume.
[S. 264 amended by s. 28 (c) of Act 9 of 2015 w.e.f. 14 May 2015.]