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A “debtor,” for the purposes of the Act, is “a person or a partnership, or the estate of a person or partnership, which is a debtor in the usual sense of the word, except a body corporate or a company or other association of persons which may be placed in liquidation under the law relating to companies.”
South Africa's nine provinces each produce a number of statutes a year, in areas for which they have either concurrent, or exclusive, legislative competence under section 104 of the Constitution of the Republic of South Africa Act, 1996. (See Schedule 4 of the Constitution for a list of the functions areas in respect of which a province may ...
In South Africa, owners of businesses that had at any stage traded insolvently (i.e. that had a balance-sheet insolvency) become personally liable for the business's debts. Trading insolvently is often regarded as normal business practice in South Africa, as long as the business is able to fulfill its debt obligations when they fall due.
This is a list of acts enacted by the Parliament of South Africa from its establishment in 1910 to the present. List of acts of the Parliament of South Africa, 1910–1919; List of acts of the Parliament of South Africa, 1920–1929; List of acts of the Parliament of South Africa, 1930–1939; List of acts of the Parliament of South Africa ...
Congress has enacted statutes governing bankruptcy, primarily in the form of the Bankruptcy Code, located at Title 11 of the United States Code. [39] A debtor declares bankruptcy to obtain relief from debt, and this is normally accomplished either through a discharge of the debt or through a restructuring of the debt.
Countries (in pink) which share the mixed South African legal system. South Africa has a 'hybrid' or 'mixed' legal system, [1] formed by the interweaving of a number of distinct legal traditions: a civil law system inherited from the Dutch, a common law system inherited from the British, and a customary law system inherited from indigenous Africans (often termed African Customary Law, of which ...
The act 5 & 6 Vict. c. 122 [4] is sometimes called the Bankruptcy Act 1842 [5] or the Bankruptcy Amendment Act 1842. [6] The Bankrupt Law Consolidation Act 1849 (12 & 13 Vict. c. 106) [7] The act 15 & 16 Vict. c. 77 is sometimes called the Bankruptcy Act 1852 [8] or the Secretary of Bankrupts Office Abolition Act [9] The Bankruptcy Act 1854 (17 ...
"subordinate legislation made in terms of a provincial Act"; and "legislation that was in force when the Constitution took effect and that is administered by a provincial government." [6] There are a large number and variety of statutes in South Africa—including Acts, ordinances, proclamations, by-laws, rules and regulations.