CA Focus CC v Village Freezer t/a Ashmel Spar (731/12)
CA Focus CC v Village Freezer t/a Ashmel Spar (731/12) [2013] ZASCA 136; 2013 (6) SA 549 (SCA) (27 September 2013)
Section 26(7) of the Close Corporations Act operates without limitation or qualification and retrospectively validates legal proceedings instituted during the period of deregistration. The statutory fiction created by the provision places all parties, including third parties, in the same position as if deregistration had never occurred. The restoration of registration interrupts prescription, and the summons issued by the appellant during deregistration is deemed valid. The respondent's rights were not adversely affected, as it was aware of the claim and participated in the proceedings. The c…
Source excerpt
- Close Corporation Deregistration
- Retrospective Validation
- Interruption Of Prescription
- Statutory Fiction