BR: Practice Note 2
30 April 2020
Please see attached SARIPA BR Practice Note 2.
In such Practice Note, SARIPA wishes to clarify the interpretation of the CIPC Practice Note dated 24 March 2020.
SARIPA is concerned that the Practice Note 1 published by CIPC, might create the impression that the moratorium referred to in the attached notice (of non-prosecution for reckless trading in terms of Section 22 (1) of the Companies Act, 71 of 2008), might also apply to potential action to be taken by a third party (creditor).
With thanks to Dr Eric Levenstein, Werksmans Attorneys.
René Bekker