Insolvency Act, 1936 (Act No. 24 of 1936)

127A. Rehabilitation by effluxion of time
Purchase cart Previous page Return to chapter overview Next page

 

(1)Any insolvent not rehabilitated by the court within a period of ten years from the date of sequestration of his estate, shall be deemed to be rehabilitated after the expiry of that period unless a court upon application by an interested person after notice to the insolvent orders otherwise prior to the expiration of the said period of ten years.

 

(2)If a court issues an order contemplated in subsection (1), the registrar shall transmit a copy of the order to every officer charged with the registration of title to any immovable property in the Republic.

 

(3)Upon receipt of the order by such officer he shall enter a caveat against the transfer of all immovable property or the cancellation or cession of any bond registered in the name of or belonging to the insolvent.

 

(4)The caveat shall remain in force until the date upon which the insolvent is rehabilitated.

 

[Section 127A substituted by section 7 of Act No. 122 of 1993]