Special Investigating Units and Special Tribunals Act, 1996
R 385
Companies Act, 2008 (Act No. 71 of 2008)Chapter 6 : Business Rescue and Compromise with CreditorsPart D : Development and approval of business rescue plan151. Meeting to determine future of company |
| (1) | Within 10 business days after publishing a business rescue plan in terms of section 150, the practitioner must convene and preside over a meeting of creditors and any other holders of a voting interest, called for the purpose of considering the plan. |
| (2) | At least five business days before the meeting contemplated in subsection (1), the practitioner must deliver a notice of the meeting to all affected persons, setting out— |
| (a) | the date, time and place of the meeting; |
| (b) | the agenda of the meeting; and |
| (c) | a summary of the rights of affected persons to participate in and vote at the meeting. |
| (3) | The meeting contemplated in this section may be adjourned from time to time, as necessary or expedient, until a decision regarding the company’s future has been taken in accordance with sections 152 and 153. |
