MRL3701 Assignment 2 2026 - DISTINCTION | Due 24 March 2026

MRL3701 Assignment 2 2026 OPENS FOR SUBMISSION: 13 March 2026 DUE DATE: 24 March 2026 Question 1 What is the intended purpose of section 21 of the Insolvency Act 24 of 1936? The principal purpose of section 21 of the Insolvency Act is to vest the separate property of the solvent spouse in the Master and ultimately the trustee on sequestration so that the insolvent estate is not deprived of assets to which it may be entitled. This serves three practical aims: to prevent collusion between spouses aimed at placing assets beyond the reach of creditors; to assist the trustee in identifying and administering property that may form part of the insolvent estate; and to provide a statutory mechanism for postponement, release or return of solvent