| (1) | An administration order shall be in the form prescribed by the rules and— |
| (a) | shall lay down the amount of the weekly or monthly or other payments to be made in terms thereof; and |
| (i) | the assets, if any, of the estate under administration which may be realized by the administrator for the purpose of distributing the proceeds among the creditors: Provided that no such asset that is the subject of a credit agreement regulated by the National Credit Act, 2005 (Act No. 34 of 2005), shall be realized without the written permission of the seller; |
| (ii) | [Section 74C(1)(b)(ii) deleted by section 48(b) of Magistrates’ Courts Amendment Act, 1993 (Act No. 120 of 1993)] |
| (iii) | the debtor's obligations which the court took account of in determining the amount of the weekly or monthly or other instalments to be paid by the debtor to the administrator; |
| (iv) | the assets, if any, which shall not be disposed of by the debtor except by leave of the administrator or the court; |
| (v) | such other provisions or conditions as the court may deem necessary or expedient. |
| (2) | The amount of the weekly or monthly or other payments to be made by the debtor to the administrator in terms of the administration order shall, as nearly as possible, approximate the difference between the debtor's future income and the sum of— |
| (a) | the amount determined by the court as the reasonable amount required by the debtor for his necessary expenses and those of the persons dependent on him; |
| (b) | the periodical payments which the debtor is obliged to make under a credit agreement as defined in section 1 of the National Credit Act, 2005 (Act No. 34 of 2005): |
Provided that the court may in its discretion refuse to take into account the periodical payments which the debtor undertook to pay under such a transaction for the purchase of goods which are not exempt from execution in terms of section 67 or which, in the opinion of the court, cannot be regarded as the debtor's household requirements, unless the court is of opinion that in all the circumstances it is desirable to safeguard the goods concerned;
| (c) | the periodical payments to be made by the debtor in terms of an existing maintenance order; |
| (d) | the periodical payments to be made by the debtor under a mortgage bond or any other written agreement for the purchase of any asset in terms of which the liabilities thereunder are payable in instalments, if in all the circumstances the court is of opinion that the instalments payable are reasonable in view of the judgment debtor's income and the sums of money due by him to other creditors or that it is desirable to safeguard the mortgaged property or the asset to which the written agreement relates; and |
| (e) | the payments to be made by the debtor by virtue of any other obligation referred to in section 74A(2)(e)(ii). |
| (3) | The court may take into account the income of the debtor's wife, who is living with him, in determining the amount referred to in subsection (2)(a) and, where the debtor is married in community of property, in determining the debtor's income. |
