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

39. Time and place of meetings of creditors
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(1)Whenever the Master convenes any meeting of creditors as hereinafter provided, he shall appoint it to be held at such time and place as he considers to be most convenient for all parties concerned and may, if necessary, alter the time and place of any such meeting: Provided that he shall publish in the Gazette sufficient notice of any such alteration.

 

(2)All meetings of creditors held in the district wherein there is a Master's office shall be presided over by the Master or an officer in the public service, designated, either generally or specially, by the Master for that purpose. Meetings of creditors held in any other district shall be held in accordance with the direction of the Master and shall be presided over by the magistrate of the district, or by an officer in the public service, designated, either generally or specially, by the magistrate for that purpose.

 

(3)The officer presiding at such a meeting shall keep a record of the proceedings, which he shall certify at the conclusion of the proceedings, and if he is not the Master, he shall transmit the record to the Master.

 

(4)If at a meeting of creditors held in a district where there is no Master, an officer other than the magistrate presides, the presiding officer shall state in the record of the proceedings the reason for the magistrate's absence.

 

(5)The officer presiding at a meeting of creditors may, if necessary or desirable, adjourn the meeting from time to time.

 

(6)The place where a meeting of creditors is held shall be accessible to the public and the publication of any statement made at such a meeting shall be privileged to the same extent as is the publication of a statement made in a court of law.