(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 the duties of a business rescue practitioner of the particular company;
(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.
Part A: Business rescue proceedings
Part B: Practitioner’s functions and terms of appointment
Part C: Rights of affected persons during business rescue proceedings
Part D: Development and approval of business rescue plan
Part E: Compromise with creditors
Business rescue provisions in Chapter 6 of the Companies Act No. 71 of 2008 (323k).
Ondernemingreddingbepalings in Hoofstuk 6 van die Maatskappywet No. 71 of 2008 (333k).
Business rescue provisions in Chapter 6 of the Companies Amendment Act No. 3 of 2011 (279k).
Business rescue provisions in Chapter 6 of the Companies Amendment Act No. 3 of 2011 (English/Afrikaans version) (792k).
Business rescue provisions in Chapter 6 of the unofficial LexisNexis Consolidated Companies Act (105k).
Business rescue provisions in Chapter 6 of the Companies Regulations, 2011 (62k).
Companies Act No. 71 of 2008 (829k).
Mastskappywet No. 71 of 2008 (545k).
Companies Amendment Act No. 3 of 2011 (2 000k).
Companies Regulations, 2011 (951k).