Cap. 12 Art. 340Effect of approval or disallowance of set-off.

(1) If the set-off be not approved, the provisions of article 329(2) and (3) shall apply:

Provided that whosoever makes made a bid animo under the condition specified in article 334 shall, compensandi within seven days from the date on which he is served with the court order rejecting his application for the set-off, pay the price in the registry of the court in which case the provisions of this article shall not apply. In the event that such party fails to pay the price within such time limit, article 329 shall apply: Provided further that in the event that the property adjudicated is transferred and delivered to the purchaser in terms of article 331(3) the provisions of this article shall not apply and the provisions of article 338(6) shall apply to the security ordered to be provided by the court.

(2) If the set-off be approved unconditionally, the purchaser shall be entitled to the formal transfer and delivery of the movable property adjudicated or, in the event that the property had already been delivered under article 331(3), the purchaser shall be entitled to the release of any security made by him.