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Consumer Affairs (Unfair Business Practices) Act, 1988 (Act No. 71 of 1988)

Notice 2706 of 1999

Notice in terms of Section 12(2)(d)

 

Department of Trade and Industry

 

Notice in terms of Section 12(2)(d) of the Consumer Affairs (Unfair Business Practices) Act No. 71 of 1988

 

 

I, Alexander Erwin, Minister of Trade and Industry, hereby announce the following extended powers, in terms of section 12(2)(d) of the Consumer Affairs (Unfair Business Practices) Act, No 71 of 1988, granted to Jacobus Nicolaas Bekker that has been appointed on 17 September 1997 in concurrence with the special court, as curator of Investment and Derivatives Exchange Limited ("IDE") and George Timothy Richter ("Richter") and has been confirmed by me and was published under Notice 271, in Government Gazette No 18713 of 6 March 1998. The extended powers which are granted to the curator are set out in the schedule hereto.

 

 

A Erwin

Ministerof Trade and Industry

 

SCHEDULE

 

In this notice unless the context indicates otherwise the curator shall have the following powers in regard to WE and Richter:

 

1) To suspend or restrict, as from the date of your appointment as curator or any subsequent date, the right of creditors of WE and/or Richter to claim or receive any money owing to them by IDE and/or Richter;

 

2) To make payments, transfer property or take steps for the transfer of property to any creditor or creditors of IDE and/or Richter at such time, in such order and in such manner as he may deem fit;

 

3) To cancel any agreement between IDE and/or Richter and any other party:Provided that where the agreement so cancelled is a lease of movable or immovable property entered into by IDE and/or Richter prior to the appointment of a curator, a claim for damages in respect of such cancellation may be instituted against IDE and/or Richter after the expiration of one year as from the date of such cancellation unless the court grants permission that such claim may be instituted before the expiry of such period;

 

4) To enter into agreements on behalf of IDE and/or Richter;

 

5) To negotiate with any creditor of WE and/or Richter with a view to the final settlement of the affairs of such creditor with IDE and/or Richter;

 

6) To dispose, by public auction, tender or negotiation, of any asset of IDE and/or Richter, including--
a) any advance or loan; or
b) any asset for the disposal of which approval in terms of section 228 of the Companies Act, 1973, is necessary.