(4)The Liquidator shall not be entitled to disclaim any property in any case where an application in writing has been made to him by any person interested in the property requiring him to decide whether he will or will not disclaim, and the Liquidator has not, within a period of twenty-eight days after the receipt of the application or such extended period as may be allowed by the [Tribunal] [ Substituted by Act 11 of 2003, Section 95, for " Court" .], given notice to the applicant that he intends to apply to the [Tribunal] [ Substituted by Act 11 of 2003, Section 95, for " Court" .] for leave to disclaim; and in case the property is a contract, if the Liquidator, after such an application as aforesaid, does not within the said period or extended period disclaim the contract, [he shall be deemed to have adopted it.] [ Substituted by Act 65 of 1960, Section 186, for " the company shall be deemed to have adopted it" (w.e.f. 28.12.1960).]
