Tax Administration Act, 2011 (Act No. 28 of 2011)Chapter 19 : General Provisions248. Public officer in event of liquidation or winding-up or business rescue |
| (1) | In the event of a company referred to in section 246(1) being placed in voluntary or compulsory liquidation, the liquidator or liquidators duly appointed are required to exercise in respect of the company all the functions and assume all the responsibilities of a public officer under a tax Act during the continuance of the liquidation. |
[Section 248(1) substituted by section 62(1)(a) of Act No. 44 of 2014]
| (2) | In the event of a company referred to in section 246(1) being subject to a business rescue plan referred to in Part D of Chapter 6 of the 'Companies Act', the business rescue practitioner as defined in that Chapter is required to exercise, in respect of the company, all the functions and assume all the responsibilities of a public officer under a tax Act for the period that the company is subject to the business rescue plan. |
[Section 248(2) substituted by section 62(1)(b) of Act No. 44 of 2014]