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Cap. 16 · Civil Code (Cap. 16)

Cap. 16 Art. 20CObjections by creditors.

TITLE II

In forceOfficial text

In accordance with the previous articles, any creditor of a cell may within fifteen (15) working days of receipt or publication of any notice issued under the previous articles, by sworn application in the Court, object to -

(a) the transfer of a cell from the transferring organisation to the recipient organisation; or

(b) the constitution of a cell into a new organisation, and, upon good cause being shown that such transfer should not take effect, the Court shall either accede to the creditor’s demand, authorise the aforementioned transfer or constitution on sufficient security being given or give such other orders as it deems appropriate.

Amendment history
  • Amended by XXXVI.2018.59