An analysis of selected regulatory shortcomings that affect the Master of the High Court's ability to execute its duties as the insolvency regulatory of South Africa

Abstract

This study analyses the regulatory shortcomings of the legislative framework pertaining to the Office of the Master of the High Court, insofar as it functions as the insolvency regulator of South Africa. The Master's office functioning, and practical problems associated with the Insolvency law regime are investigated. The study provides a general background regarding the development and importance of this institution, and the significance of the problems associated with the Master's office as a key entity to the success of the insolvency law process. The substantive discussion dealing with the legislative technicalities that implicate the Master's office within the insolvency law sphere focuses on the role, functions, and statutorily prescribed powers of the Office. The study further provides an internal comparative analysis of other similar bodies as it relates to the roles, powers and functions of these entities in order to determine, against the background of the challenges identified earlier, whether any viable adaptations can be made to the regulatory realm of the Master's office. After a critical analysis of the research findings, observations are made in order to provide recommendations for law reform.