Insolvency Act 2006 No 55 (as at 07 January 2010), Public Act

Reprint as at 7 January 2010

Insolvency Act 2006

Public Act2006 No 55
Date of assent7 November 2006
Commencementsee section 2

Note

Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.

A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.

The Insolvency Act 2006 is administered by the Ministry of Economic Development.


Contents

Adjudication

Court adjudication on creditor's application

Acts of bankruptcy

Bankruptcy notice

Effect on execution process of filing creditor's application

Court's options when hearing creditor's application

Debtor's application

Power of court to appoint Assignee as receiver

Adjudication

Assignee must advertise adjudication

Bankrupt's statement of affairs

Assignee must call meeting of creditors

Court proceedings are halted

Execution process

Bankrupt's death

Creditors' meetings

Conduct of creditors' meetings

Documents

General

Bankrupt's property subject to execution process

Validity of property transactions with bankrupt

Disclaimer of onerous property

Land subject to mortgage

Shares and other securities

Consumer goods on hire purchase

Second bankruptcy

Persons jointly adjudicated bankrupt

Duties in relation to property

Duties to provide information

Restrictions on bankrupt dealing with property

Bankrupt's bank accounts

Provision for bankrupt

Examination of persons summoned by Assignee

Bankrupt's public examination

Investigation of company controlled by bankrupt and associate

Privilege and representation of persons examined

Bankrupt's contracts entered into before adjudication

Transaction with bankrupt in ignorance of adjudication

Joint contractual liability

Lawyers' costs

Insolvent transactions

Insolvent charges

Insolvent gifts

Procedure for cancelling irregular transactions

Transactions at undervalue

Bankrupt's contribution to another person's property

Powers of Assignee

Notice by Assignee

Assignee's decisions

Assignee's accounting records

Provable debts

Procedure for proving debt

Role of Assignee in examining creditor's claim form

Secured creditors

Creditors' claims subject to uncertainty

Creditors' claims payable after adjudication

Set-off

Set-off under netting agreement

Interest

Miscellaneous provisions relating to creditors' claims

Preferential claims

Payments to general creditors and to bankrupt

Undistributed money paid to Public Trust

Automatic discharge from bankruptcy

Application for discharge from bankruptcy

Examination concerning discharge from bankruptcy

Entry to no asset procedure

Effect of entry to no asset procedure

Termination and discharge

Application and order that estate be administered under this Part

Effect of order that estate be administered under this Part

Administration of estate under this Part

Indictable offences

Offences in relation to record of transactions

Summary offences

Offences in relation to management of companies

Assignee's discretion to prosecute

Insolvency Amendment Act 2009

Reprint notes