Cross-Border Insolvency Act, 2000 (Act No. 42 of 2000)Chapter 3 : Recognition of Foreign Proceedings and Relief17. Decision to recognise foreign proceedings |
| (1) | Subject to section 6, foreign proceedings must be recognised if— |
| (a) | the foreign proceedings are proceedings within the meaning of section 1 (g) ; |
| (b) | the foreign representative applying for recognition is a person or body within the meaning of section 1(h) ; |
| (c) | the application meets the requirements of section 15 (2); and |
| (d) | the application has been submitted to a court. |
| (2) | The foreign proceedings must be recognised |
| (a) | as foreign main proceedings if they are taking place in the State where the debtor has the centre of his or her or its main interests; or |
| (b) | as foreign non-main proceedings if the debtor has an establishment within the meaning of section 1 (c) in the foreign State. |
| (3) | An application for recognition of foreign proceedings must be decided upon at the earliest possible time. |
| (4) | The provisions of this section and of sections 15, 16 and 18 do not prevent modification or termination of recognition if it is shown that the grounds for granting it were fully or partially lacking or have ceased to exist. |