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Office only boxForm 507 Corporations Act 2001 s421A(1) & (2) s429(2)(b) & (c) s475(1) & (7) s497(4 & 6) s438B(2A)REPORT ONCompany Activities and Property Part A (Form 507)Draft only.

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The administrator will manage the company and business during the process and the directors will not be involved unless the administrator allows them to be. In some cases, the administrator may permit the directors to keep some control.

The Companies Act 61 of 1973 (“the Act”) makes provision for the convening of insolvency enquiries to obtain the necessary information from relevant parties to assist with determining the affairs of a company which has been wound up.

Generally speaking, you can be a director again after your business folds, but there are restrictions in place to protect creditors and other stakeholders. Additionally, following an insolvent liquidation process the actions of directors are investigated to establish whether they negatively affected the outcome.

When a company goes into insolvent liquidation, the directors are required to complete a Report on Company Activities and Property (ROCAP) which replaces the previous Report as to Affairs (RATA)

It is not illegal for the director of a company in liquidation to resign from their position. However, resigning does not, in any way, absolve them from any liabilities or obligation related to their time as director, especially if their actions may have directly led to the company's insolvency.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232