“The rights of the surety“

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

 

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