CRS Business Rescue

In-depth analysis of the business rescue provisions contained in the Companies Regulations

Business rescue regulations

Business rescue regulations are contained in Regulations 129 to 135 of the draft Company Regulations, 2010.

The purpose of this section is to:

Provide information regarding business rescue regulations.
Provide an interactive forum 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.

The draft Company Regulations, 2010 were published on 22 December 2009 and comments closed on 1 March 2010.

Purpose of the business rescue regulations

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."