Cap. 631 Art. 14Effect of the preventive restructuring order.

(1) For the period commencing upon the filing of an application and until the earlier of the dismissal of the application, or the termination of the preventive restructuring order:

(a) any obligation incumbent on the debtor to make an application for the opening of proceedings that may result in a judgement declaring the bankruptcy of the debtor, or the dissolution or winding up of the debtor in terms of law, shall be suspended;

(b) any act or proceedings that may result in a judgement declaring the bankruptcy of the debtor, or the dissolution or winding up of the debtor in terms of law, shall be stayed; and

(c) no new act or proceedings that may result in a judgement declaring the bankruptcy of the debtor, or the dissolution or winding up of the debtor in terms of law, shall be taken or commenced against the debtor.

(2) The Court shall suspend, stay or disallow any such act or proceeding ex officio upon becoming aware that a preventive restructuring order is in force.