(5) If the Court makes an order in terms of subsection (4)(a), the Court may make a further order appointing as interim practitioner a person who satisfies the requirements of section 131, and who has been nominated by the affected person who applied in terms of subsection (1), subject to ratification by the holders of a majority of the independent creditors’ voting interests at the first meeting of creditors, as contemplated in section 140.
(6) If liquidation proceedings have already been commenced by or against the company at the time an application is made in terms of subsection (1), the application will suspend those liquidation proceedings until-
(a) the Court has adjudicated upon the application; or
(b) the corporate rescue proceedings end, if the Court makes the order applied for.
(7) In addition to the powers of a Court on an application contemplated in this section, a Court may make an order contemplated in subsection ( 4), or (5) if applicable, at any time during the course of any liquidation proceedings or proceedings to enforce any security against the company.
(8) A company that has been placed under supervision in terms of this section-
(a) may not adopt a resolution placing itself in liquidation until the corporate rescue proceedings have ended as determined in accordance with section 125(2); and
(b) must notify each affected person of the order within five business days after the date of the order.