Rights of the surety are as follows:
Did you know that in terms of Section 70(5) of the Insolvency Act , 24 of 1936 (“the Act”) the Master and the surety for the trustee, or any person authorised by such surety, shall have the same right to information in regard to an estate account opened under section 70(1)(a), (b) or (c) of the Act, as the trustee himself possesses, and may examine all vouchers in relation thereto whether in the hands of the bank institution or building society or of the trustee?
Jacqui Smith (LLB)
Legal Advisor
Subscribe now
Share this article
Read More
More Articles
Can I Get Retroactive Coverage With Professional Indemnity Insurance?
Short Answer: Yes, you can get retroactive cover. It’s important to note that various insurers may have distinct criteria or prerequisites concerning retroactive cover and dates. You should canvass this with your broker prior to taking out a PI policy. Retroactive cover is an important aspect of Professional Indemnity (PI) insurance. This type of cover…
Which Professions Require Professional Indemnity Insurance?
While this list is not exhaustive, here are some professions in South Africa that commonly require PI insurance: It is important to note that the requirement for PI insurance may vary based on regulatory bodies, professional associations, contractual obligations, and client demands within each profession. Professionals in these fields should consult with their respective industry…
What is a Curator Bonis?
Curator bonis is a legal term used in South Africa to refer to a person appointed by the court to manage the financial and legal affairs of someone who is unable to do so themselves due to mental incapacity or other reasons. The curator bonis acts as a legal representative and fiduciary for the person…