Insolvency Act, 1936 (Act No. 24 of 1936)80. Continuation of insolvent’s business |
| (1) | A trustee shall not carry on the business of the insolvent concerned or any part thereof unless authorised thereto by the creditors of the insolvent's estate or, in the absence of instructions from the creditors, by the Master. Such authorisation may be given by the Master at any time, whether before or after the second meeting of creditors. |
| (2) | If the trustee is authorised to carry on any such business, he shall, unless the creditors have otherwise directed him, purchase for cash only and only out of the takings of that business any goods which he may require for that business. |