Companies Act, 1973 (Act No. 61 of 1973)Chapter XIV: Winding-up of CompaniesDissolution of Companies and other Bodies Corporate421. Registrar to keep a register of directors of dissolved companies |
| 1) | The Registrar shall establish and maintain a register of directors of companies which have been dissolved and were unable to pay their debts, and cause to be entered therein, in respect of each such director-- |
| a) | his full forenames and surname, and any former forenames and surname, his nationality, if not South African, his occupation, his date of birth and his last known residential and postal addresses; |
| b) | the name of the company of which he was a director when such company was dissolved for the reason that it was unable to pay its debts and, where more than one company was dissolved at the same time, the names of those companies ; |
| c) | the date of his appointment as director; |
| d) | the date of dissolution of the company or companies. |
| 2) | The liquidator shall, within fourteen days after the date of the certificate referred to in section 419(1), send to the Registrar on a prescribed form, in duplicate, in respect of each director of the company who was a director thereof at a date within two years before the commencement of the winding-up, the particulars referred to in subsection (1) (a) to (d) of this section, together with a statement as to which director, in his opinion, was the effective cause of the company being unable to pay its debts. |
| 3) | The Registrar shall, under cover of a prescribed form, send to each director one copy of the particulars furnished under subsection (2) in respect of that director, and where the liquidator has in a statement furnished under the said subsection expressed any opinion as to which director was the effective cause of the company being unable to pay its debts, the Registrar shall at the same time send a copy of such statement to the director named therein. |
| 4) | A director may, within one month of the date of the form referred to in subsection (3), object, by affidavit or otherwise, to his name being entered in the register referred to in subsection (1). |
| 5) | If after considering the objections made by or on behalf of a director or if a director fails to object and the Registrar is of opinion that the name of the director should be entered in the register, he shall inform such director accordingly. |
| 6) | The Registrar shall, on the expiration of one month after the date of his decision under subsection (5) or, if an application under subsection (7) is then pending, after the application has been disposed of and the Court has not ordered otherwise, enter the name of the director in the register. |
| 7) | Any person aggrieved by the decision of the Registrar to make an entry or not to make an entry in the register, shall be entitled, within one month of the date of such decision, to apply to the Court for relief, and the Court shall have power to consider the merits of the matter, to receive further evidence and to make any order it deems fit. |
| 8) | Any liquidator who fails to comply with the provisions of subsection (2), shall be guilty of an offence. |
| 9) | The provisions of section 9 as to the inspection of documents kept by the Registrar and extracts therefrom certified by the Registrar shall mutatis mutandis apply to the register to be maintained by him under this section. |