Insolvency Act, 1936 (Act No. 24 of 1936)5. Prohibition of sale in execution of property of estate after publication of notice of surrender and appointment of curator bonis |
| (1) | After the publication of a notice of surrender in the Gazette in terms of section four, it shall not be lawful to sell any property of the estate in question, which has been attached under writ of execution or other process, unless the person charged with the execution of the writ or other process could not have known of the publication: Provided that the Master, if in his opinion the value of any such property does not exceed R5 000, or the Court, if it exceeds that amount, may order the sale of the property attached and direct how the proceeds of the sale shall be applied. |
| (2) | After the publication of a notice of surrender as aforesaid in the Gazette the Master may, in accordance with policy determined by the Minister, appoint a curator bonis to the debtor's estate, who shall forthwith take the estate into his or her custody and take over the control of any business or undertaking of the debtor, as if he or she were the debtor, as the Master may direct, including any business the debtor is licensed to carry on in terms of the Liquor Act, 1989 (Act No. 27 of 1989), but subject in every case, mutatis mutandis, to the provisions of section 70. |