Labour Relations Act, 1995 (Act No. 66 of 1995Chapter VIII : Unfair Dismissal and Unfair Labour Practice197B. Disclosure of information concerning insolvency |
| (1) | An employer that is facing financial difficulties that may reasonably result in the winding—up or sequestration of the employer, must advise a consulting party contemplated in section 189(1). |
| (2) |
| (a) | An employer that applies to be wound up or sequestrated, whether in terms of the Insolvency Act, 1936, or any other law, must at the time of making application, provide a consulting party contemplated in section 189(1) with a copy of the application. |
| (b) | An employer that receives an application for its winding—up or sequestration must supply a copy of the application to any consulting party contemplated in section 189(1), within two days of receipt, or if the proceedings are urgent, within 12 hours. |
[Section 197B inserted by section 50 of Act No. 12 of 2002]