Receiverships Act 1993

2 Interpretation

  • (1) In this Act, unless the context otherwise requires,—

    account receivable has the same meaning as in section 16(1) of the Personal Property Securities Act 1999

    company has the same meaning as in—

    • (a) section 2 of the Companies Act 1955; or

    as the case may be; and includes an overseas company

    court means the High Court

    creditor includes a person to whom the grantor owes a debt or is under a liability, whether present or future, certain or contingent, and whether an ascertained debt or liability or a liability in damages

    director, in relation to—

    • (a) a company within the meaning of section 2 of the Companies Act 1955 or a company within the meaning of section 2 of the Companies Act 1993, as the case may be, includes—

      • (i) any person occupying the position of director of the company by whatever name called; and

      • (ii) a person in accordance with whose directions or instructions a person referred to in subparagraph (i) may be required or is accustomed to act; and

      • (iii) a person in accordance with whose directions or instructions the board of the company may be required or is accustomed to act:

    • (b) an overseas company, includes an agent, officer, or employee responsible in New Zealand for the business of the overseas company:

    • (c) any other body corporate, means a person having functions similar to those of a director of a company;—

    but does not include a receiver

    document means a document in any form; and includes—

    • (a) any writing on material; and

    • (b) information recorded or stored by means of a tape recorder, computer, or other device; and material subsequently derived from information so recorded or stored; and

    • (c) a book, graph, or drawing; and

    • (d) a photograph, film, negative, tape, or other device in which 1 or more visual images are embodied so as to be capable (with or without the aid of equipment) of being reproduced

    grantor means the person in respect of whose property a receiver is, or may be, appointed

    inventory has the same meaning as in section 16(1) of the Personal Property Securities Act 1999

    liquidator means a liquidator appointed under Part 6 of the Companies Act 1955 or under Part 16 of the Companies Act 1993, as the case may be; and liquidation has a corresponding meaning

    local authority means a local authority within the meaning of the Local Government Act 2002

    mortgage includes a charge on property for securing money or money's worth

    mortgagee includes a person from time to time deriving title under the original mortgagee; but does not include a receiver

    new value has the same meaning as in section 16(1) of the Personal Property Securities Act 1999

    Official Assignee means, in relation to the estate of a bankrupt, any Official Assignee or Deputy Assignee appointed under the Insolvency Act 2006 and having charge of that estate

    overseas company means a company incorporated outside New Zealand

    preferential claims means the claims referred to in Schedule 7 of the Companies Act 1993 (except clause 1(1) of that schedule)

    proceeds has the same meaning as in section 16(1) of the Personal Property Securities Act 1999

    property includes—

    • (a) real and personal property:

    • (b) an estate or interest in real or personal property:

    • (c) a debt:

    • (d) any thing in action:

    • (e) any other right or interest

    property in receivership means property in respect of which a receiver is appointed

    purchase money security interest has the same meaning as in section 16(1) of the Personal Property Securities Act 1999

    receiver means a receiver, or a manager, or a receiver and manager in respect of any property appointed—

    • (a) by or under any deed or agreement; or

    • (b) by the court in the exercise of a power conferred on the court or in the exercise of its inherent jurisdiction—

    whether or not the person appointed is empowered to sell any of the property in receivership; but does not include—

    • (c) a mortgagee who, whether personally or through an agent, exercises a power to—

      • (i) enter into possession of mortgaged property in a manner referred to in section 137 of the Property Law Act 2007; or

      • (ii) sell or otherwise alienate mortgaged property; or

    • (d) an agent of any such mortgagee

    Registrar, in relation to—

    • (a) a company, has the same meaning as in section 2 of the Companies Act 1955 or section 2 of the Companies Act 1993, as the case may be:

    • (e) any other body corporate registered under any enactment, means any person discharging the powers, functions, and duties of a registrar under that enactment

    security agreement has the same meaning as in section 16(1) of the Personal Property Securities Act 1999

    security interest has the same meaning as in section 17 of the Personal Property Securities Act 1999.

    (2) In this Act, unless the context otherwise requires, a reference to a person by whom, or in whose interests, a receiver was appointed, as the case may be, includes a reference to a person to whom the rights and interests under any deed or agreement by or under which the receiver was appointed have been transferred or assigned.

    Section 2(1) account receivable: inserted, on 1 May 2002, by section 3 of the Receiverships Amendment Act 2001 (2001 No 24).

    Section 2(1) inventory: inserted, on 1 May 2002, by section 3 of the Receiverships Amendment Act 2001 (2001 No 24).

    Section 2(1) local authority: inserted, on 1 July 2003, by section 262 of the Local Government Act 2002 (2002 No 84).

    Section 2(1) new value: inserted, on 1 May 2002, by section 3 of the Receiverships Amendment Act 2001 (2001 No 24).

    Section 2(1) Official Assignee: amended, on 3 December 2007, by section 445 of the Insolvency Act 2006 (2006 No 55).

    Section 2(1) preferential claims: amended, on 1 November 2007, by section 41 of the Companies Amendment Act 2006 (2006 No 56).

    Section 2(1) proceeds: inserted, on 1 May 2002, by section 3 of the Receiverships Amendment Act 2001 (2001 No 24).

    Section 2(1) purchase money security interest: inserted, on 1 May 2002, by section 3 of the Receiverships Amendment Act 2001 (2001 No 24).

    Section 2(1) receiver paragraph (c): substituted, on 1 January 2008, by section 364(1) of the Property Law Act 2007 (2007 No 91).

    Section 2(1) security agreement: added, on 1 May 2002, by section 3 of the Receiverships Amendment Act 2001 (2001 No 24).

    Section 2(1) security interest: added, on 1 May 2002, by section 3 of the Receiverships Amendment Act 2001 (2001 No 24).