Insolvency Second Amendment Act (No. 69 of 2002)

1st January 2002

To am end the Insolvency Act,1936,so as to require notice of a petition for the sequestration ofa debtor's estate to be given to em ployees ofthe debtor,registered trade unions representing such employees,the South African Revenue Service and the debtor;to provide for the service of sequestration orders on such employees, trade unions and the South African Revenue Service;to make further provision regarding a debtor's rights to compensation;and so as to effect certain textual corrections;to am end the Com panies Act,1973,so as to require notice of an application for the winding-up of a company to be given to employees of the com pany,registered trade unions representing such employees,the South African Revenue Service and the company;to provide for the service of winding-up orders on such employees,trade unions,the South African Revenue Service and the company;to make provision regarding a company's rights to compensation;and to provide for matters incidental thereto.