CBI 7

WORKING DOCUMENT: DRAFT 2

REPUBLIC OF SOUTH AFRICA

PORTFOLIO COMMITTEE AMENDMENTS

TO

CROSS-BORDER INSOLVENCY BILL

[B 42000]

(As agreed to by the Portfolio Committee on Justice and Constitutional Development (National Assembly))

 

[B 4A2000]

_____________________________________________________________________

 

REPUBLIEK VAN SUID-AFRIKA

PORTEFEULJEKOMITEE-AMENDEMENTE

OP

WETSONTWERP OP INSOLVENSIE OOR LANDSGRENSE

[B 42000]

(Soos goedgekeur deur die Portefeuljekomitee oor Justisie en Staatkundige Ontwikkeling (Nasionale Vergadering))

 

[W 4A2000]

amendments1

AMENDMENTS AGREED TO

CROSS-BORDER INSOLVENCY BILL

[B 42000]

CLAUSE 1

OPTION 1:

1. On page 6, after line 44, to insert the following definition:

(k) "State" means a State which has enacted a law based on the Model Law on Cross-Border Insolvency, formulated by the United Nations Commission on International Trade Law.

OPTION 2:

1. On page 6, after line 40, to insert the following definitions:

(i) "foreign State" means a State designated under section 2(2);

(j) "Minister" means the Cabinet member responsible for the administration of justice;

CLAUSE 2

1. On page 8, after line 5, to insert the following subclause:

(2) (a) Subject to paragraph (b), this Act applies in respect of any State designated by the Minister by notice in the Gazette.

(b) The Minister may only designate a State as contemplated in paragraph (a) if he or she is satisfied that the recognition accorded by the law of such a State to proceedings under the laws of the Republic relating to insolvency justifies the application of this Act to foreign proceedings in such State.

(3) The Minister may at any time by subsequent notice in the Gazette withdraw any notice under subsection (2)(a), and thereupon any State referred to in such last-mentioned notice ceases to be a foreign State for the purposes of this Act.

(4) Any notice contemplated in subsection (2)(a) or (3) must, before publication in the Gazette, be approved by Parliament.

CLAUSE 3

OPTION 1:

Retain clause 3 in its present form.

OPTION 2:

1. On page 8, in line 9, to omit "states" and to substitute "States".

2. On page 8, in line 9, after "states" to insert:

and which treaty or agreement has been enacted into law in terms of section 231(4) of the Constitution

OPTION 3:

Clause rejected.

CLAUSE 20

1. On page 14, in line 27, to omit "insolvent" and to substitute "debtor".

CLAUSE 25

1. On page 16, in line 42, to omit "2" and to substitute "2(1)".

CLAUSE 26

1. On page 18, in line 4, to omit "2" and to substitute "2(1)".

CLAUSE 30

1. On page 20, in line 9, to omit "2" and to substitute "2(1)".

CLAUSE 34

1. On page 20, in line 44, after "2000" to insert:

, and comes into operation on a date fixed by the President by proclamation in the Gazette