| (1) | An order of the court in terms of paragraph (d) of subsection (3) of section thirty-three shall be subject to the provisions contained in the following subsections. |
| (2) | The court shall appoint a judicial manager, who shall receive such remuneration as the court may direct, and the court may at any time cancel the appointment and appoint some other person as judicial manager. |
| (3) | The judicial manager appointed to a society shall take over the whole management of the society, but except with the leave of the court he shall not admit any more members. |
| (4) | The court shall issue such directions to the judicial manager as to his powers and duties as it deems desirable in the circumstances of the case. |
| (5) | The provisions of the Companies Act, 1973 (Act No. 61 of 1973), shall apply mutatis mutandis in connection with the judicial management of a society under this section, in so far as those provisions relate to a judicial management in terms of the said Act, and in so far as the said provisions are applicable and not inconsistent with any provision of this Act or with any direction issued by the court under this section. |
[Section 34(5) substituted by section 22 of Act No. 103 of 1979]
| (6) | The judicial manager shall act under the control of the court, and he may apply to the court at any time for instructions as to the manner in which he shall carry out the judicial management. |
| (7) | The judicial manager shall give the Authority such information as the latter may require from time to time, and shall, whenever he intends to apply to the court for instructions, report accordingly to the Authority, who shall be entitled to be heard personally or by a representative at any such application, and may himself make an application to the court with reference to the conduct of the judicial management. |
| (8) | The judicial manager shall as soon as possible report to the court which of the following courses he deems most advantageous to members of the society, that is to say — |
| (a) | the transfer of the whole or of a part of the business of the society to some other person; |
| (b) | the carrying on of the society with such alterations in benefits, contributions or conditions or in other respects as he may deem advisable; |
| (c) | the winding-up of the business or of a part of the business of the society; |
| (d) | such other course as he may deem advisable. |
| (9) | The court shall consider the report of the judicial manager and shall decide upon the course it considers most advantageous to members of the society, and an order containing the decision of the court shall be binding on all persons, and shall have effect notwithstanding anything in the rules of the society: Provided that if the court orders the winding-up of the business or any part of the business of the society, the provisions of section thirty-six shall apply to such winding-up. |
