Companies Amendment Act 1999

Companies Amendment Act 1999

Public Act1999 No 19
Date of assent26 April 1999

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 1999, and is part of the Companies Act 1993 (the principal Act).

2 Liability of shareholders
  • (1) This subsection substituted s 98(6)(a) of the principal Act.

    (2) Section 98(6) of the principal Act was amended as follows—

    • (a) This paragraph amended s 98(6)(b) of the principal Act.

    • (b) This paragraph amended s 98(6)(c) of the principal Act.

3 Commencement of liquidation
  • This section substituted s 241(5) of the principal Act.

4 Commencement of liquidation to be recorded
  • This section inserted section 241A of the principal Act.

5 Interim liquidator
6 Other duties of liquidator
  • Section 255(2) of the principal Act is amended—

    • (a) This paragraph amended s 255(2)(a)(ii) of the principal Act.

    • (b) This paragraph amended s 255(2)(d) of the principal Act.

7 Power to disclaim onerous property
  • This section substituted s 269(2) of the principal Act.

8 Transactions having preferential effect
  • (1) This subsection substituted s 292(5)(a) of the principal Act.

    (2) Section 292(5) of the principal Act is amended—

    • (a) This paragraph amended s 292(5)(b) of the principal Act.

    • (b) This paragraph amended s 292(5)(c) of the principal Act.

    (3) This subsection substituted s 292(6)(a) of the principal Act.

    (4) 

    • (a) This paragraph amended s 292(6)(b) of the principal Act.

    • (b) This paragraph amended s 292(6)(c) of the principal Act.

9 Voidable charges
  • (1) This subsection substituted s 293(6)(a) of the principal Act.

    (2) 

    • (a) This paragraph amended s 293(6)(b) of the principal Act.

    • (b) This paragraph amended s 293(6)(c) of the principal Act.

    (3) This subsection substituted s 293(7)(a) of the principal Act.

    (4) 

    • (a) This paragraph amended s 293(7)(b) of the principal Act.

    • (b) This paragraph amended s 293(7)(c) of the principal Act.

10 Transactions at undervalue
  • (1) This subsection substituted s 297(3)(b)(i) of the principal Act.

    (2) Section 297(3)(b) of the principal Act is amended—

    • (a) This paragraph amended s 297(3)(b)(ii) of the principal Act.

11 Transactions for inadequate or excessive consideration with directors and certain other persons
  • (1) This subsection substituted s 298(4)(a) of the principal Act.

    (2) Section 298(4) of the principal Act is amended—

    • (a) This paragraph amended s 298(4)(b) of the principal Act.

    • (b) This paragraph amended s 298(4)(c) of the principal Act.

12 Ascertainment of amount of claim
  • This section amended s 306(1) of the principal Act.

13 Claims relating to debts payable after commencement of liquidation
  • This section amended s 309(1) of the principal Act.

14 Mutual credit and set-off
  • (1) This subsection substituted s 310(6)(a) of the principal Act.

    (2) Section 310(6) of the principal Act is amended—

    • (a) This paragraph amended s 310(6)(b) of the principal Act.

    • (b) This paragraph amended s 310(6)(c) of the principal Act.

    (3) This subsection substituted s 310(7)(a) of the principal Act.

    (4) 

    • (a) This paragraph amended s 310(7)(b) of the principal Act.

    • (b) This paragraph amended s 310(7)(c) of the principal Act.

15 New sections inserted
  • This section inserted sections 310A to 310O of the principal Act.

16 Interest on claims
  • This section amended s 311(1) and (3) of the principal Act.

17 Schedule 7 amended
  • [Repealed]

    Section 17 was repealed, as from 1 April 2004, by section 16 Volunteers Employment Protection Amendment Act 2004 (2004 No 12).

19 Customs and Excise Act 1996 amended