| (a) | contain a heading which shall— |
| (i) | describe it as a liquidation and distribution account; |
| (ii) | reflect the ordinal number of such account; |
| (iii) | specify whether it is a final or supplementary or an amended final or supplementary liquidation and distribution account, as the case may be; |
| (iv) | state the full name and surname and date of death of the deceased, and, if an identity number was assigned to the deceased such identity number also; |
| (v) | state the marital status of the deceased at the date of his death; |
| (vi) | if the deceased was a married person at the dare of his/her death, state whether the marriage was in or out of community of property, and, if the marriage was in community of property, state the full name (including a maiden name, if applicable) of the person to whom he/she was so married, and, if an identity number has been assigned to that person, state such identity number also, and, if the marriage was out of community of property, state whether the marriage was subject to the accrual system in terms of section 2 of the Matrimonial Property Act, 1984 (Act 88 of 1984); |
| (vii) | specify, if adiation has taken place, that it is the massed estate of the deceased and the person who has so adiated; and |
| (viii) | state the Master's reference number; |
| (b) | contain a money column; |
| (c) | specify under a subheading "Liquidation Account"— |
| (i) | the immovable property (other than property subject to a fideicommissum) forming part of the estate as described in the title deed thereof and reflect the number and date of the title deed and, in the case of an amended description of such property, also specify such amended description; |
| (ii) | an accurate and concise description of the movable property (not subject to a fideicommissum) forming part of the estate; |
| (iii) | in parentheses next to the money column of the account a consecutive number in respect of each item under this subheading, such number to correspond, where applicable, to the serial number of the voucher, receipt or acquittance referred to in subregulation (3), relating to such item; |
| (iv) | in the money column of the account, the value of each asset or a number of assets grouped together or the gross proceeds of each asset or a number of assets grouped together and sold by the executor, |
| (v) | the manner in which the executor intends dealing with or divesting the estate of any asset or group of assets, other than cash found in the estate or cash proceeds from assets realised, |
and then the money column shall be totalled and thereafter the account shall, under this subheading, further specify—
| (vi) | in the money column, the administration charges incurred in connection with the liquidation and distribution of the estate; |
| (vii) | the name of each creditor, together with the amount of his claim which shall be reflected in the money column of the account; |
| (viii) | in the money column, any estate duty payable by the estate, |
and the amounts reflected in the money column in respect of subparagraphs (vi) to (viii), inclusive, shall be totalled and any balance for distribution to be carried forward to the distribution account shall be reflected in such column;
| (d) | specify under a subheading "Recapitulation Statement" a cash statement reflecting— |
| (i) | the total of the items comprising cash or property reduced to cash; |
| (ii) | the total debts and charges appearing under the subheading "Liquidation Account" and any legacy payable in cash; and |
| (iii) | the cash deficiency, if any, and how such deficiency will be settled; |
| (e) | specify under a subheading "Distribution Account"— |
| (i) | the balance for distribution and particulars of any rights conferred under the provisions of section 37 of the Act; |
| (ii) | the full names of the heirs and whether an heir is a major or a minor, and in the case of— |
| (a) | a minor, also the date of birth, and if an identity number has been assigned to such minor, also such identity number, |
| (b) | a woman, also her marital status and, if married in community of property, the full name of her husband and, if married out of community of property, whether the marital power has been excluded; |
| (iii) | briefly details of the property included in every award and the reason for every award and if the award to any beneficiary or administrator is subject to any condition in the will, stating that it is made subject to and in terms of such condition without specifying or summarising the terms of the condition, |
and where any redistribution agreement was entered into by the heirs and distribution has to be made by the executor pursuant to such agreement, the redistribution agreement shall accompany the account;
| (f) | specify under a subheading "Income and Expenditure Account"— |
| (i) | any income collected which has accrued subsequent to the death of the deceased to the date of the account; |
| (ii) | any expenses paid from such income; |
| (iii) | in parentheses next to the money column of the account, a consecutive number in respect of each entry; |
| (iv) | the balance available for distribution and to whom it was awarded; |
and if no income was collected, that fact that shall be stated;
| (g) | specify under a subheading "Fiduciary Assets Account"— |
| (i) | mutatis mutandis in the manner set out in subparagraph (c) of this regulation, the fiduciary assets held by the deceased as a fiduciary pursuant to any will or other instrument; |
| (ii) | the origin of the fiduciary interest in such assets, including the Master's reference number of the estate, will or instrument in terms of which such interest was created; |
| (iii) | any debts, charges and administration expenses which are chargeable against such fiduciary assets; |
| (iv) | in so far as the provisions of subparagraphs (e) and (f) of this regulation may be applied to the fiduciary assets account, the information required by those provisions; |
| (h) | where applicable, specify under a subheading "Estate Duty"— |
| (i) | the calculations to establish whether estate duty is payable and the amount of estate duty payable, if any; and |
| (ii) | the apportionment thereof in respect of the persons liable for such duty in terms of the Estate Duty Act, 1955 (Act 45 of 1955); |
| (i) | conclude with a certificate signed and dated by the executor in which he— |
| (i) | declares that the account is to the best of his knowledge and belief a true and proper account of the liquidation and distribution of the estate; |
| (ii) | declares, if it is a final account, that to the best of his knowledge and belief all the assets and income collected subsequent to the death of the deceased to the date of the account have been disclosed therein; and |
| (iii) | sets forth, if the account is not a final account, full particulars of all the debts due to the estate and still outstanding and all assets, stating the approximate value of each asset, still unrealised with an explanation why such debts and assets have not been collected or realised. |
| (2) | Where the estate has been liquidated and distributed or the assets in estate have been realised and the proceeds distributed under the provisions of section 34 of the Act, the account shall, subject to the provisions of section 34(7) and 34(7A) of the Act, consist of— |
| (i) | a liquidation account framed in accordance with the provisions of section 92 of the Insolvency Act, 1936 (Act 24 of 1936); |
| (ii) | a trading account containing the particulars referred to in section 93 of the Insolvency Act, 1936, if any business is carried on behalf of the estate; |
| (iii) | a distribution account in the form referred to in section 94 of the Insolvency Act, 1936; |
| (iv) | a certificate by the executor that the requisite majority in number and value of the creditors did not instruct him to surrender the estate under the Insolvency Act, 1936; |
| (v) | a liquidation and distribution account in respect of protected assets which are not subject to the rights of creditors mutatis mutandis in the form prescribed by subregulation (1)(c), (e), (f) and (g) in so far as the said subregulation can be applied; |
| (vi) | a certificate containing the particulars referred to in subregulation (1)(i). |
| (3) | Every voucher, receipt or acquittance in support of any asset or number of assets grouped together or of each claim or charge against the estate shall be numbered with a number corresponding to the number of the item to which it relates. |
| (4) | The account referred to in section 35(2) of the Act shall, in so far as it is appropriate, contain the particulars referred to in subregulation (1) and (2). |
| (5) | If the Master is satisfied that the non-compliance with any of the requirements mentioned in subregulation (1) is not material, he can waive compliance therewith. |
