Financial Markets Act, 2012 (Act No. 19 of 2012)Chapter XII : General provisionsWinding-up, business rescue and curatorship101. Business rescue |
| (1) | The court may grant a business rescue order in respect of a regulated person which is a company or other corporate body on the application of the persons referred to in section 100(1), except a curator referred to in section 102(1). |
| (2) |
| (a) | Section 100(3), (4), (5) and (6) apply, with the changes required by the context, to a court application for or a resolution on business rescue. |
| (b) | For the purpose of paragraph (a), any reference to section 80 of the Companies Act in section 100(3), (4), (5) and (6) must be construed as a reference to section 129 of that Act and any reference to liquidation or sequestration in those sections must be construed as a reference to business rescue. |
| (3) | The Companies Act applies, subject to section 103, to business rescue proceedings relating to a regulated person that is a company. |