Section 24: Application for receivership order

24. Application for receivership order (1) An application to the Court for a receivership order in respect of a cell may be made by— (a) the company; (b) the directors of the company; (c) any creditor of the company in respect of that cell; (d) any holder of cell shares in respect of that cell; (e) the administrator of that cell; (f) the Commission; or (g) the Registrar. (2) The Court, on hearing an application, may make an interim order or adjourn the hearing. (3) Notice of an application to the Court under subsection (1) shall be served upon— (a) the company; (b) the administrator, if any, of the cell; (c) the Commission; (d) the Registrar; and (e) such other persons as the Court may direct, who shall each be given an opportunity of making representations to the Court before the order is made. [S. 24 amended by s. 46 (8) (e) of Act 13 of 2001 w.e.f. 1 December 2001.]