What is a Section 34?

Sale of a business — Section 34 notice

If a business owner wants to sell the business — or its substantial assets — outside of normal trading, the law requires them to publish a Section 34 notice in the gazette at least 30 days before the sale. This gives the seller's creditors a chance to object before the business is transferred away.

If the notice isn't published, the law treats the sale as void against the seller's creditors — so the buyer usually insists on the notice being published as a condition of the deal. The notice names the seller, the buyer, the business, and the intended date of transfer.

Statute: Section 34 of the Insolvency Act 24 of 1936.

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