New Zealand Legislation: Acts

44F Compensation for property disposed of to qualifying company

• (1) This section applies if the court is satisfied—

  • (a) that, since the marriage or the civil union or the de facto relationship began, either or both spouses or partners have disposed of relationship property to a qualifying company; and

  • (b) that the disposition has the effect of defeating the claim or rights of one of the spouses or partners; and

  • (c) that the disposition is not one to which section 44 applies.

  (2) If this section applies, the court may make 1 or more of the following orders for the purpose of compensating the spouse or partner whose claim or rights under this Act have been defeated by the disposition:

  • (a) an order requiring one spouse or partner to pay to the other spouse or partner a sum of money, whether out of relationship property or separate property:

  • (b) an order requiring one spouse or partner to transfer to the other spouse or partner any property, whether the property is relationship property or separate property.

  (3) The court may make 1 or more orders under subsection (2) if it considers it just to do so, having regard to—

  • (a) the value of the relationship property disposed of to the qualifying company:

  • (b) the value of the relationship property available for division:

  • (c) the date or dates on which relationship property was disposed of to the qualifying company:

  • (d) whether the company gave consideration for the property, and if so, the amount of the consideration:

  • (e) any other relevant matter.

  Section 44F: inserted, on 1 February 2002, by section 51 of the Property (Relationships) Amendment Act 2001 (2001 No 5).

  Section 44F(1)(a): amended, on 26 April 2005, by section 3(1) of the Property (Relationships) Amendment Act 2005 (2005 No 19).

  Section 44F(1)(a): amended, on 26 April 2005, by section 3(4) of the Property (Relationships) Amendment Act 2005 (2005 No 19).

  Section 44F(1)(b): amended, on 26 April 2005, by section 3(1) of the Property (Relationships) Amendment Act 2005 (2005 No 19).

  Section 44F(2): amended, on 26 April 2005, by section 3(2) of the Property (Relationships) Amendment Act 2005 (2005 No 19).

  Section 44F(2)(a): amended, on 26 April 2005, by section 3(2) of the Property (Relationships) Amendment Act 2005 (2005 No 19).

  Section 44F(2)(b): amended, on 26 April 2005, by section 3(2) of the Property (Relationships) Amendment Act 2005 (2005 No 19).