CRS Business Rescue
In-depth analysis of the business rescue provisions contained in the Companies Regulations, 2011

Business rescue regulations

Business rescue regulations are contained in Regulations 123 to 128 of the Companies Regulations, 2011 which are published in terms of section 223, and Item 14 of Schedule 5, of the Companies Act, 2008 (Act No. 71 of 2008),

Purpose of the Companies Regulations

“The Companies Act, 2008 - Development of Regulations - Issues for Discussion” (2009) (this is the initial consultation memo regarding development of regulations of the dti of 27 July 2009) states the following:

"The function of regulations is to amplify certain aspects of the policy and law as enunciated in the Act, addressing matters of procedure, detail or technicality to the extent that Parliament has, through the Act, delegated authority to the Minister to do so.  It follows that any proposed regulation must be consistent with the overall policy of the Act, as well as with its specific provisions, and must rest on a foundation of clearly delegated authority."

Purpose of this section on the Companies Regulations

  • List each section of the draft regulations.
  • Provide information on the interpretation of each section.
  • Provide an interactive forum, per section, for discussion and debate to enable a wider understanding of legal and practical aspects of business rescue.

Follow the links to each regulation in the column on the left.

Download forms

Form Description Fee
CoR 123.1 Notice of Beginning of Business Rescue Proceedings  
CoR 123.2 Notice of Appointment of Practitioner Payment of R 80 filing fee
CoR 123.3 Notice to not Commence Business Rescue Proceedings  
CoR 125.1 Business Rescue Status Report (Notice Concerning Status of Business Rescue Proceedings)  
CoR 125.2 Notice of Termination of Business Rescue Proceedings R80 filing fee
CoR 125.3 Notice of Substantial Implementation of a Business Rescue Plan  
CoR 126.1 Application for Practitioner's License Payment of R 500 application fee
CoR 126.2 Registration Certificate (Certificate of Practitioner License)  

Companies and Intellectual Properties Commission - Practice Notes

References and readings

Professional publications

Proposed Companies Regulations – Some Points to Note. (2010, December 5). Webber Wentzel Attorneys.

Professional web sites

Draft Companies Regulations, 2011. (2010, November 29). Department of Trade and Industry.

Impacting Policy: USAID FSP and the Revised Draft Regulations Under the Companies Act. (2010, December). FSP Financial Sector Program.

Stakeholders Invited to Provide Comments on the Consumer Protection and Companies Regulations. (2010, November 30).

Media articles

New Companies Act 2008 Regulations Finally Published! (2010, January 20). Deneys Reitz Attorneys.

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