(4)If on any report to the Registrar under sub-section (2), it appears to him that the case is not one in which proceedings ought to be taken by him, he shall inform the Liquidator accordingly, and thereupon, subject to the previous sanction of the [Tribunal] [ Substituted by Act 11 of 2003, Section 102, for " Court" .], the Liquidator may himself take proceedings against the offender.
