New Zealand Legislation: Acts

25 Writ of sale

• (1) A debtor commits an act of bankruptcy if—

  • (a) a writ of sale directed against any land of the debtor, or any interest in that land, has been delivered to a sheriff; and

  • (b) as part of the execution process, the land or interest has been advertised for sale in at least 1 newspaper published or circulating in the town or district in which the land is situated.

  (2) However, subsection (1) does not apply, and an act of bankruptcy is not committed, if the judgment or the order under which the writ of sale has been issued is satisfied within 5 working days after the writ of sale has been both delivered to the sheriff and advertised.

  Compare: 1967 No 54 s 19(1)(h)