Practice Notes

pdf TMA Practice Note 1- Pre-assessment of a distressed business

PURPOSE OF THIS PRACTICE NOTE

To provide guidelines for Business Rescue Practitioners (“BRP”) regarding the assessment of possible business rescue opportunities prior to acceptance of the mandate to act as Business Rescue Practitioner.

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pdf TMA Practice Note 10 - Substantial Implementation

PURPOSE OF THE PRACTICE NOTE
To provide guidance to business rescue practitioners (“BRPs”) and other interested parties with regard to the meaning and practical implications of the term “substantial implementation” of a business rescue plan as used in Chapter 6 of the Companies Act 71 of 2008 ("Act").

pdf TMA Practice Note 2 - BRP's Letter of Engagement

PURPOSE OF THIS PRACTICE NOTE

The purpose of this appointment is to oversee and supervise the company during Business Rescue

pdf TMA Practice Note 3 - The First 10 days

PURPOSE OF THIS PRACTICE NOTE

To provide guidelines for Business Rescue Practitioners (“BRP”) regarding the challenges of the first ten days post appointment as a BRP.

document TMA Practice Note 4 - Post Commencement Finance

PURPOSE OF THIS PRACTICE NOTE

To provide guidelines to business rescue practitioners (“BRPs”) regarding the nature, sources, ranking and practicalities relating to new funding secured whilst a company is in business rescue proceedings, and the implication of the legal concept of “post-commencement finance” (“PCF”).

document TMA Practice Note 5 - BRP Fees

PURPOSE OF THIS PRACTICE NOTE

To provide guidelines for Business Rescue Practitioners (“BRP”) regarding the charging of fees for business rescue (“BR”) appointments.

pdf TMA Practice Note 6 - Business Rescue Plan and Sample Liquidation

PURPOSE OF THIS PRACTICE NOTE

To provide guidelines to Business Rescue Practitioners (“BRP”) in drawing up Business Rescue Plans
(“BR Plan”) and to produce an expected standard framework for readers of BR Plans. Adherence to
the guidelines proposed in this practice note will ensure that TMA members prepare a BR Plan which
demonstrates the level of professionalism and minimum standards expected in the industry.

document TMA Practice Note 7 - SARS

PURPOSE OF THE PRACTICE NOTE

The purpose of this practice note is to provide guidance to business rescue practitioners (“BRP”) in dealing with South African Revenue Services (“SARS”) matters.

pdf TMA Practice Note 8 - Engagement with the CIPC during the Business Rescue Process

PURPOSE OF THE PRACTICE NOTE

To provide guidance to TMA business rescue practitioners (“BRP”) in their interactions with the
Companies and Intellectual Property Commission (“CIPC”) and in relation to the relevant reporting
requirements during the Business Rescue process.

pdf TMA Practice note 9 - Reasonable Prospect

PURPOSE OF THE PRACTICE NOTE

The purpose of this practice note is to provide guidance to company boards and business rescue practitioners (“BRPs”) with regard to the meaning and practical implications of the term “reasonable prospect of rescuing the company” as used in Chapter 6 of the Companies Act 71 of 2008 ("Act").

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