Cap. 13 Art. 529Minimum requirementsofthe bankruptcy order.

(1) The provisions of a bankruptcy order, in terms of article 528(b), shall ensure that the bankrupt is permitted to retain moneys equivalent to the combined value of:

(a) the national minimum wage established for persons of eighteen (18) years and over, calculated pro rata for the duration of the income payment plan; and

(b) an additional amount in excess of the national minimum wage where the bankrupt reasonably demonstrates, to the satisfaction of the court, that the bankrupt has an overriding need for the additional amount on account of grave and justifiable circumstances specific to the bankrupt or his dependants.

(2) Any funds resulting from the sale of those assets comprising the bankruptcy estate and listed in terms of article 528(b)(iii) shall be utilised for the settlement of the debts of the bankrupt, whether personal or commercial in nature, in the order in which these shall rank in terms of law.

(3) Any contributions to the bankruptcy estate made by virtue of an income payment plan in terms of article 528(b)(v) shall be utilised exclusively for the settlement of the commercial debts of the bankrupt, in the order in which these shall rank according to law:

Provided that any contributions to the bankruptcy estate made in terms of an income payment plan by virtue of article 528(b)(v) that are made subsequent to the full settlement of the commercial debts of the bankrupt shall be utilised for the further settlement of the personal debts of the bankrupt.