Companies Amendment Act 1998

Companies Amendment Act 1998

Public Act1998 No 31
Date of assent3 June 1998

An Act to amend the Companies Act 1993

BE IT ENACTED by the Parliament of New Zealand as follows:

1 Short Title
  • This Act may be cited as the Companies Amendment Act 1998, and is part of the Companies Act 1993 (the principal Act).

2 Meaning of redeemable
  • This section substituted s 68 of the principal Act.

3 Liability of former shareholders
4 Annual meeting of shareholders
  • This section repealed s 120(1)(a) of the principal Act.

5 Indemnity and insurance
  • This section substituted s 162(5)(c) of the principal Act.

6 Contents of annual report
  • (1) 

    • (a) This paragraph repealed s 211(1)(d) of the principal Act.

    • (b) This paragraph amended s 211(1)(f) of the principal Act.

    • (c) This paragraph amended s 211(1)(h) of the principal Act.

    (2) This subsection amended s 211(2) of the principal Act.

    (3) This subsection substituted s 211(3) and inserted s 211(4) of the principal Act.

7 Registrar may alter New Zealand register
  • This section inserted s 214A of the principal Act.

8 Short form amalgamation
  • This section amended s 222(2) of the principal Act.

9 Liquidator to summon meeting of creditors
  • (1) 

    • (a) This paragraph amended s 243(1)(a) of the principal Act.

    • (b) This paragraph amended s 243(1)(b) of the principal Act.

    (2) This subsection inserted s 243(1A) of the principal Act.

    (3) This subsection amended s 243(2)(b) of the principal Act.

    (4) This subsection amended s 243(4) of the principal Act.

    (5) This subsection inserted s 243(4A) of the principal Act.

10 Other duties of liquidator
  • This section inserted s 255(6) of the principal Act.

11 Duties in relation to accounts
  • This section amended s 256(2)(b) of the principal Act.

12 Transactions having preferential effect
13 Voidable charges
14 Transactions at undervalue
15 Transactions for inadequate or excessive consideration with directors and certain other persons
16 Mutual credit and set-off
17 Establishment of Liquidation Surplus Account
  • This section amended s 316(1) of the principal Act.

18 Grounds for removal from register
  • This section amended s 318(1)(e) of the principal Act.

19 Service of documents on companies in legal proceedings
20 Schedule 1 amended
  • (1) This section amended cl 5(4)(c) and inserted cl 5(4)(d) of Schedule 1 of the principal Act.

    (2) This section amended cl 6(3) of Schedule 1 of the principal Act.

21 Schedule 5 amended
  • (1) This subsection amended cl 2(2)(c) and inserted cl 2(2)(d) of Schedule 5 of the principal Act.

    (2) This subsection substituted cl 3(2) and inserted cl 3(2A) of Schedule 5 of the principal Act.

    (3) This subsection inserted cl 7(1A) of Schedule 5 of the principal Act.

    (4) This subsection inserted cl 11 of Schedule 5 of the principal Act.