Definitions and the Applications

Section 4

Notice of surrender and lodging at Master’s office of statement of debtor’s affairs

(1) Before presenting a petition mentioned in section three the person who intends to present the petition (in this section referred to as the petitioner) shall cause to be published in the Gazette and in a newspaper circulating in the district in which the debtor resides, or, if the debtor is a trader, in the district in which his principal place of business is situate, a notice of surrender in a form corresponding substantially with Form A in the First Schedule to this Act. The said notice shall be published not more than thirty days and not less than fourteen days before the date stated in the notice of surrender as the date upon which application will be made to the court for acceptance of the surrender of the estate of the debtor.

[Sub-s. (1) amended by s. 3 (a) of Act No. 16 of 1943 and by s. 1 of Act No. 49 of 1996.]

(2) (a)  Within a period of seven days as from the date of publication of the said notice in the Gazette, the petitioner must deliver or post a copy of the said notice to every one of the creditors of the debtor in question whose address he or she knows or can ascertain.
(b)  The petitioner must further, within the period referred to in paragraph (a), furnish a copy of the notice—
(i)    by post to every registered trade union that, to the petitioner’s knowledge, represents any of the debtor’s employees; and
(ii)    to the employees themselves—
(aa)    by affixing a copy of the notice to any notice board to which the employees have access inside the debtor’s premises; or
(bb)    if there is no access to the premises by the employees, by affixing a copy of the notice to the front gate of the premises, where applicable, failing which to the front door of the premises from which the debtor conducted any business immediately prior to the surrender; and
(iii)    by post to the South African Revenue Service.
[Sub-s. (2) amended by s.3 (b) of Act No. 16 of 1943 and substituted by s. 1 of Act No. 69 of 2002.]

(3) The petitioner shall lodge at the office of the Master a statement in duplicate of the debtor’s affairs, framed in a form corresponding substantially with Form B in the First Schedule to this Act. That statement shall contain the particulars for which provision is made in the said Form, shall comply with any requirements contained therein and shall be verified by an affidavit (which shall be free from stamp duty) in the form set forth therein.

(4) Upon receiving the said statement, the Master may direct the petitioner to cause any property set forth therein to be valued by a sworn appraiser or by any person designated by the Master for the purpose.

(5) If the debtor resides or carries on business as a trader in any district (other than the district of Wynberg, Simonstown or Bellville in the Province of the Cape of Good Hope) wherein there is no Master’s office, the petitioner shall also lodge a copy of the said statement at the office of the magistrate of the district, or, if the debtor resides or so carries on business in a portion of such district in respect of which an additional or assistant magistrate permanently carries out the functions of the magistrate of the district at a place other than the seat of magistracy of that district, at the office of such additional or assistant magistrate.

[Sub-s. (5) amended by s. 19 of Act No. 62 of 1955.]

(6) The said statement shall be open to the inspection of any creditor of the debtor during office hours for a period of fourteen days from a date to be mentioned in the notice of surrender.