Section 139: Removal and replacement of practitioner

(1) A practitioner may be removed only—

(a) by a court order in terms of section 130; or

(b) as provided for in this section.

(2) Upon request of an affected person, or on its own motion, the court may remove a practitioner from office on any of the following grounds:

(a) Incompetence or failure to perform duties;

(b) failure to exercise the proper degree of care in the performance of the practitioner’s functions;

(c) engaging in illegal acts or conduct;

(d) if the practitioner no longer satisfies the requirements set out in section 138(1);

(e) conflict of interest or lack of independence; or

(f) the practitioner is incapacitated and unable to perform the functions of that office, and is unlikely to regain that capacity within a reasonable time.

(3) The company, or the creditor who nominated the practitioner, as the case may be, must appoint a new practitioner if a practitioner dies, resigns or is removed from office, subject to the right of an affected person to bring a fresh application in terms of section 130(1)(b) to set aside that new appointment.

84. Amendment of section 139 of Act 71 of 2008

Section 139 of the principal Act is hereby amended by the substitution in subsection (2), for paragraph (a),of the following:

“(a) [I]incompetence or failure to perform the duties of a business rescue practitioner of the particular company;”

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Business rescue legislation

Legal references cited by Chapter 6

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