(a) The Commission must, when considering an application for accreditation of a profession under section 138(1), have due regard to the qualifications and experience that are set as conditions for membership of any such profession, and the ability of such profession to discipline its members and the Commission may revoke any such accreditation if it has reasonable grounds to believe that the profession is no longer able to properly monitor or discipline its members.
(2) A person may apply to the Commission for a license to serve as a business rescue practitioner, as contemplated in section 138 (1)(b), by filing Form CoR 126.1, together with the fee set out in Table CR 1.
(3) When considering an application in terms of sub-regulation (2), the Commission may require the applicant to provide––
(a) further information relevant to the application; or
(b) evidence in support of any facts set out in the application.
(a) the applicant is of good character and integrity; and
(b) the applicant’s education and experience are sufficient to equip the applicant to perform the functions of a business rescue practitioner.
(6) After considering an application, the Commission must either––
(a) issue a license as applied for in Form CoR 126.2;
(c) refuse to issue the license, by notice in writing to the applicant, setting out the reasons for the refusal.
(7) The Commission, by notice in writing to a licensee––
(b) may suspend or revoke a license if the Commission has reasonable grounds to believe that the person is no longer qualified to be licensed, or has contravened the conditions of the license.
(8) An applicant whose application has been refused, or who has been issued a conditional license, or a licensee whose license has been suspended or revoked, may apply to the Tribunal to review the Commission’s decision in the matter, and the Tribunal may partially or entirely confirm or set aside the Commission’s decision.
|CoR 126.1||Application for Practitioner's License||Payment of R 500 application fee|
|CoR 126.2||Registration Certificate (Certificate of Practitioner License)|
Download the application form CoR 126.1 at Application for license as a Business Rescue Practitioner.
Download the CoR 126.2 application form at Certificate of Practitioner license.
Bradstreet, R. (2010, September). Exploring the Possibility of a Composite Business Rescue Practitioner. De Rebus.
Bradstreet, R. (2010). The Leak in the Chapter 6 Lifeboat: Inadequate Regulation of Business Rescue Practitioners May Adversely Affect Lenders' Willingness and the Growth of the Economy. SA Mercantile Law Journal, 22(2), p. 195-213.
King, B. (2010, October 21). Good News for the Derivatives Business in South Africa. Deneys Reitz Attorneys.
Business Rescue. (2010, June). Tomlinson Mnquni James Attorneys.
CIPRO to Establish Companies and Intellectual Property Commission. (2010, November 2). Deneys Reitz Attorneys.
Levenstein, E. (2010). Skills Are the Critical Success Factor in Business Rescue. Werksmans Attorneys.
Van der Walt, J. (2011). Section 138: Qualifications of Business Rescue Practitioners. CRS Business Rescue.
Crotty, A. (2009, December). Expertise Central To Business Rescue. Business Report.
Steyn, L. (2011, May 20). Bring Out the Rescue Remedy. Mail & Guardian Online.
Temkin, S. (2010, March 3). Business Rescuers Will Need Special Skills. Business Day.
Temkin, S. (2010, February 1). State Plan Hinges on Business Rescue Practitioners. Business Day.
Temkin, S. (2009, July 30). Turnaround Specialists Need Skills Criteria from Government. BusinessDay.
Weavind, T. (2011, July 9). Creditors Aim to Cash in on New Business Rescue Provisions. Business LIVE.
Weavind, T. (2011, July 9). Turnarounds: Does Business Rescue Have the Right Remedy. Times LIVE.
Part A – Business Rescue Proceedings
Part B – Business Rescue Practitioners
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).