n SA Mercantile Law Journal = SA Tydskrif vir Handelsreg - The meaning of 'solvent' for purposes of liquidation in terms of the Companies Act 71 of 2008 : : case note

Volume 27, Issue 1
  • ISSN : 1015-0099
  • E-ISSN: 1996-2185



The Companies Act 71 of 2008 ('the new Act') repealed most of the Companies Act 61 of 1973 ('the previous Act'). The notable exception is chapter 14 of the previous Act, which continues to apply with respect to the winding-up and liquidation of companies (item 9(1) of Schedule 5 of the new Act). However, ss 343, 344, 346 and 348-353 do not apply to the winding-up of solvent companies, except to the extent necessary to give full effect to the provisions of the new Act dealing with the winding-up and deregistration of solvent companies (Part G of chapter 2 of the new Act; see item 9(2) of Schedule 5). As is evident from its omission from this list, s 345 of the previous Act applies to the solvent winding-up of companies.

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