Insolvency Act.pdf - Intax Info

(2) A person who has in his possession or custody or under his control any asset
belonging to an insolvent or assigned estate shall be guilty of an offence and liable to a fine not
exceeding P600 or to imprisonment for a term not exceeding one year if, knowing of the
sequestration or assignment of the estate and that the asset belongs to it, he fails to inform the
trustee or assignee of the estate as soon as possible of the existence and whereabouts of the
asset and to deliver it to, or place it at the disposal of, the trustee or assignee.
(3) The provisions of this section shall not apply to the insolvent or debtor who has
assigned his estate, but nothing in this subsection shall prevent the application of the section to
an insolvent or such a debtor in respect to assets belonging to another estate which has been
sequestrated or assigned.
149. Liability of partners or administrators
A partner who does, or omits to do in relation to the property or affairs of the partnership,
and any person charged by law with the administration of an estate who does, or omits to do, in
relation to the affairs of that estate, any act which if done or omitted by him under the like
circumstances in relation to his private estate would have been punishable under this Act, shall
be guilty of the same offence.
150. Liability of agents and managers and evidence of liability or date thereof
(1) Any servant, agent or manager having the sole or practical control of the affairs of his
employer or principal shall, upon the sequestration or assignment of the estate of his employer
or principal, be liable to criminal proceedings and punishment for all offences under this Act to
the same extent as if that servant, agent or manager were the insolvent or the debtor whose
estate has been assigned:
Provided that the liability of the insolvent or debtor to criminal proceedings for any such
offence shall not thereby be affected.
(2) Whenever in any criminal proceedings under this Act any liability incurred by the
insolvent or by a debtor who has assigned his estate, or the date or time when the debt or
liability was incurred, is in issue or relevant to the issue, proof that liability has been admitted
under any of the provisions of sections 43 to 49 shall be sufficient evidence of the existence of
the liability and the liability shall be deemed to have been incurred upon the date or at the time
alleged in any document submitted in accordance with the provisions of any of those sections in
support of any claim in respect of the liability:
Provided that any party to such criminal proceedings may prove that no such liability or
that a lesser or a greater liability was incurred or that it was incurred on a date or at a time other
than as so alleged.
PART XII
Judicial (ss 151-153)
151. Jurisdiction of the court
The court shall have jurisdiction under this Act over every debtor and in regard to the
estate of every debtor who-
(a) at the date of the presentation of a petition for the sequestration of his estate, is-
(i) possessed of or entitled to property within the jurisdiction of the court;
(ii) domiciled or resides or has a dwelling-house or place of business or carries on
business within the jurisdiction of the court;
(b) at any time within 12 months immediately preceding the presentation of the petition has
ordinarily resided or had a dwelling-house or place of business or carried on business
within the jurisdiction of the court;
(c)
has assigned that portion of his estate which lies within the jurisdiction of the court:
Provided that when it appears to the court equitable or convenient that the estate of a
person not domiciled in Botswana should be sequestrated elsewhere the court may refuse or
postpone the sequestration.
152. Review by and appeal to the court
Copyright Government of Botswana