New Zealand Legislation: Acts
Acts are laws made by Parliament
In this Act, unless the context otherwise requires,—
acceleration clause means an express or implied term in an instrument which provides that, if there is a default, any amounts secured by a mortgage become payable (or may be called up as becoming payable) earlier than would be the case if there had not been a default
access lot, in sections 298 and 315 and in relation to a subdivision, means a separate allotment—
(a) in the subdivision; and
(b) that was created to provide access—
(i) from all or any of the other allotments of the subdivision; and
(ii) to an existing road or street
account receivable has the same meaning as in the Personal Property Securities Act 1999
address, in relation to a person, means the actual or last-known place of residence or business of the person
administrator has the same meaning as in the Administration Act 1969
at risk has the same meaning as in section 109(2) of the Personal Property Securities Act 1999
bankrupt—
(a) means a person who is adjudged bankrupt; and
(b) includes a deceased person’s estate administered under Part 6 of the Insolvency Act 2006
company has the same meaning as in the Companies Act 1993
consumer goods has the same meaning as in the Personal Property Securities Act 1999
conveyance includes any deed of assignment, appointment, lease, settlement, or other assurance by deed of any property
co-owner means a tenant in common or a joint tenant
court, in relation to any matter, means the court before which the matter falls to be determined
covenant means a promise expressed or implied in—
(a) an instrument; or
(b) a short-term lease not made in writing
covenantor, in relation to a mortgage,—
(a) means a person, other than the mortgagor, who has agreed to pay money or perform obligations secured by the mortgage; and
(b) includes a guarantor
creditor includes—
(a) a person who is a creditor within the meaning of section 240 of the Companies Act 1993; and
(b) a person who can prove a debt under the Insolvency Act 2006
current mortgagor, in relation to mortgaged property, means a mortgagor who is currently the owner of the property
debenture, except in the term mortgage debenture, means a secured or unsecured debenture
deed, in relation to land under the Land Transfer Act 1952, includes an instrument having the effect of a deed under that Act
default means—
(a) a failure—
(i) to pay on the due date any amounts secured by an instrument; or
(ii) to perform or observe any other express or implied covenant in an instrument; or
(b) any other event (other than the arrival of the due date) on the occurrence of which any amounts secured by an instrument become payable, or may be called up as becoming payable, under any express or implied term in the instrument
deficiency, in relation to a sale of land or goods under a power of sale expressed or implied in a mortgage, means any amount by which the amount received on the sale and available to a mortgagee in accordance with section 185 is less than the amount secured by the mortgage and then owing to the mortgagee
director,—
(a) in relation to a company, means any person occupying the position of director of the company, by whatever name called; and
(b) in relation to a body corporate other than a company or a corporation sole, includes a person occupying a position in the body corporate that is comparable with that of a director of a company; or
(c) in relation to a corporation sole, means the holder of the office constituted as the corporation sole
discharge sum means the sum nominated by a vendor mortgagee under section 189
disposition—
(a) means any sale, mortgage, transfer, grant, partition, exchange, lease, assignment, surrender, disclaimer, appointment, settlement, or other assurance; and
(b) includes the creation of—
(i) an easement, profit à prendre, or any other interest in property; and
(ii) a trust in the lifetime of the settlor or by will, and a devise, bequest, or appointment by will in respect of property; but
(c) in subpart 6 of Part 6, has the meaning given to that term by section 345(2)
encumbrance includes a mortgage, a trust securing the payment of money, or a lien
former mortgagor, in relation to mortgaged property, means a person who has ceased to be the owner of the property, but remains personally liable to the mortgagee for the payment of any amounts or the performance of any obligations secured by the mortgage
goods has the same meaning as in the Personal Property Securities Act 1999
income, in relation to land, includes rents and profits
instrument—
(a) means any use of words, figures, or symbols (for example, an agreement, contract, deed, grant, or memorandum, or some other document that is certified, executed, or otherwise approved by or on behalf of a party or parties, or a judgment, order, or process of a court) that—
(i) creates, evidences, modifies, or extinguishes legal or equitable rights, interests, or liabilities (without being lodged, filed, or registered under an enactment, or after being so lodged, filed, or registered, or both); and
(ii) is in a visible and tangible form and medium (for example, in handwriting, print, or both), or is in an electronic form in accordance with the Electronic Transactions Act 2002 or the Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002; and
(b) includes any instrument as defined in section 2 of the Land Transfer Act 1952; and
(c) includes any covenant expressed or implied (under this or any other enactment) in, and any variation of, any instrument as defined in paragraph (a) or (b); but
(d) does not include an enactment (though it may be in a form prescribed by one, or have covenants or terms implied in it under one, or both)
inventory has the same meaning as in the Personal Property Securities Act 1999
joint tenants, in Part 4, includes tenants in common
land includes all estates and interests, whether freehold or chattel, in real property
land not under the Land Transfer Act 1952 means land other than land referred to in section 10 of that Act
land under the Land Transfer Act 1952 means all land referred to in section 10 of that Act
lease means a lease of property, whether registered or unregistered, and includes a short-term lease and an agreement to lease
lessee means a person who enters into a lease as lessee, and includes a person who has accepted a transfer or assignment of a lease
lessor—
(a) means a person who enters into a lease as lessor; but
(b) if there has been a transfer or assignment of the reversion expectant on the lease, means a person who has accepted the transfer or assignment
mortgage includes—
(a) any charge over property for securing the payment of amounts or the performance of obligations; and
(b) any registered mortgage; and
(c) any mortgage arising under a mortgage debenture
mortgage debenture means an instrument creating a charge on property of a body corporate that comprises all, or substantially all, of the assets of the body corporate
mortgagee—
(a) means a person to whom a mortgage is given as mortgagee; but
(b) if the mortgage has been assigned, means the assignee of the mortgage for the time being
mortgagee in possession—
(a) means a mortgagee who has exercised a power to enter into possession of mortgaged land or goods in accordance with section 137; and
(b) includes a mortgagee who is treated, under section 140, as a mortgagee in possession of accounts receivable; and
(c) in sections 87, 152 to 154, 168 to 171, 175, and 185, includes a mortgagee who—
(i) exercised a power to enter into possession of mortgaged land or goods before 1 January 2008; and
(ii) is, immediately before that date, still in possession of the land or goods
mortgagor means a person who is the owner of property that is subject to a mortgage
new value has the same meaning as in the Personal Property Securities Act 1999
occupier, in relation to land,—
(a) in subparts 4 and 5 of Part 5, subparts 2 and 3 of Part 6, and Schedule 5, means—
(i) a person—
(A) who is in occupation of the land under a lease, or a licence to occupy the land in consideration of rent or a payment in the nature of rent, for a term of not less than 10 years certain or a renewal, for a term of any length, of such a lease or licence, or under a lease validated under section 212; or
(B) who remains in occupation of the land, with the consent of the lessor, after the term of a lease or licence referred to in subsubparagraph (A), or any renewal of it, has expired; or
(ii) if there is no occupier within the meaning of subparagraph (i) but there is a mortgagee in possession, means the mortgagee in possession; or
(iii) if there is no occupier within the meaning of subparagraph (i) or (ii) but a receiver appointed by the mortgagee is exercising powers to manage the land or demand and recover income from it, means the receiver; but
(iv) does not include any other person for the time being occupying the land:
(b) in subpart 1 of Part 6, has the meaning given to that term by paragraph (a), except that the reference to a lease or licence for a term of not less than 10 years certain is to be read—
(i) in relation to land of an applicant, as a reference to a lease or licence for a term of not less than 1 year certain; and
(ii) in relation to neighbouring land, as a reference to a lease or licence for a term of any length:
(c) in subpart 4 of Part 6, has the meaning given to that term by paragraph (a), except that the reference to a lease or licence for a term of not less than 10 years certain is to be read as a reference to a lease or licence for a term of not less than 1 year certain
Official Assignee has the same meaning as in the Insolvency Act 2006
overseas company means a body corporate that is incorporated outside New Zealand
owner,—
(a) in subparts 4 and 5 of Part 5 and in Part 6, in relation to land, means—
(i) the holder of an estate in fee simple or a life interest in the land; or
(ii) the holder of a licence to occupy the land within the meaning of section 121A of the Land Transfer Act 1952; or
(iii) the holder of a deferred payment licence under section 65 of the Land Act 1948; and
(b) in relation to a public reserve, includes the local authority, trustees, or persons having control of the reserve
periodical payment—
(a) means a payment (whether described as rent, rentcharge, salary, pension, bonus, dividend, interest, outgoing, or otherwise) that—
(i) is payable by a person to another person (whether or not in respect of a fixed or ascertainable period); and
(ii) is in the nature of income (and not in the nature of an instalment of a purchase price, repayment of capital, or capital gain) in the hands of the recipient; but
(b) does not include an annual sum payable to a person entitled to it under a policy of assurance of any description
person bound means, in relation to an easement, a positive covenant, or a restrictive covenant burdening land, an owner or occupier of the land against whom the easement or covenant is enforceable
person entitled means, in relation to an easement, a positive covenant, or a restrictive covenant benefiting land, an owner or occupier of the land who is entitled to enforce the easement or covenant
person entitled to redeem, in relation to mortgaged property,—
(a) means a person with an interest in the mortgaged property and entitled to redeem it; and
(b) includes the current mortgagor, any former mortgagor, and any covenantor
positive covenant means a covenant, including an express or implied covenant in an easement, under which the covenantor undertakes to do something in relation to the covenantor’s land that would beneficially affect the value of the covenantee’s land or the enjoyment of the covenantee’s land by any person occupying it
property—
(a) means everything that is capable of being owned, whether it is real or personal property, and whether it is tangible or intangible property; and
(b) includes any estate or interest in property; and
(c) in subpart 6 of Part 6, has the extended meaning given to that term in section 345(2)
proprietor, in sections 298 and 315 and in relation to an access lot, means a registered proprietor of—
(a) 1 or more undivided shares in the access lot; and
(b) 1 or more of the allotments served by the access lot
Public Trust has the same meaning as in the Public Trust Act 2001
purchase money security interest has the same meaning as in the Personal Property Securities Act 1999
receiver—
(a) means a receiver, or a manager, or a receiver and manager of any property (with or without power to sell any of the property in receivership) appointed—
(i) by or under any deed or agreement; or
(ii) by a court in the exercise of a power conferred on the court or in the exercise of its inherent jurisdiction; but
(b) does not include a mortgagee in possession or the agent of a mortgagee in possession
redeem, in relation to mortgaged property, includes the right to have the property discharged from a mortgage over the property
registered,—
(a) in relation to an instrument concerning land under the Land Transfer Act 1952,—
(i) means registered under that Act; and
(ii) includes registered under the Land Transfer (Computer Registers and Electronic Lodgement) Amendment Act 2002:
(b) in relation to an instrument concerning land that is not under the Land Transfer Act 1952, means registered under the Deeds Registration Act 1908:
(c) in relation to an instrument concerning a ship, means—
(i) registered in the New Zealand Register of Ships established under the Ship Registration Act 1992; or
(ii) recorded in a financing statement registered in the personal property securities register kept under the Personal Property Securities Act 1999; or
(iii) both:
(d) in relation to an instrument concerning quota within the meaning of the Fisheries Act 1996, means registered under that Act:
(e) in relation to an instrument concerning management rights or spectrum licences within the meaning of the Radiocommunications Act 1989, means registered under that Act:
(f) in relation to an instrument concerning a policy within the meaning of section 41 of the Life Insurance Act 1908, means registered under that Act:
(g) in relation to an instrument concerning personal property other than property referred to in paragraphs (c) to (f), means recorded in a financing statement registered in the personal property securities register kept under the Personal Property Securities Act 1999
Registrar,—
(a) in sections 24, 108, 164, 176, 178, 183, 187 to 194, 196, 197, 199, and 200, means the Registrar of the High Court:
(b) in sections 111(1) and 116, means the Registrar of the court before which the matter falls to be determined:
(c) in sections 156, 165, 167, and 173,—
(i) in relation to a company or an overseas company, means the Registrar of Companies appointed in accordance with section 357(1) of the Companies Act 1993:
(ii) in relation to a society registered under the Industrial and Provident Societies Act 1908, means the Registrar of Industrial and Provident Societies:
(iii) in relation to a society registered under the Incorporated Societies Act 1908, means the Registrar of Incorporated Societies:
(iv) in relation to a friendly society or a credit union registered under the Friendly Societies and Credit Unions Act 1982, means the Registrar of Friendly Societies and Credit Unions:
(v) in relation to any other body corporate registered under an enactment, means a person discharging the powers, functions, and duties of a registrar under that enactment
Registrar-General means the Registrar-General of Land
rentcharge means a rent secured by a mortgage over land
restrictive covenant means—
(a) a covenant, including a covenant expressed or implied in an easement, under which the covenantor undertakes to refrain from doing something in relation to the covenantor’s land which, if done, would detrimentally affect the value of the covenantee’s land or the enjoyment of that land by any person occupying it; or
(b) a restrictive covenant in gross expressed or implied in an easement
security interest has the same meaning as in the Personal Property Securities Act 1999
short-term lease has the meaning given to that term by section 207
signed, in relation to a body corporate, means—
(a) executed by the body corporate as provided in section 9(4); or
(b) signed on behalf of the body corporate by a person acting under its express or implied authority
structure,—
(a) in Part 6, means any building, driveway, path, retaining wall, fence, plantation, or other improvement; and
(b) in subpart 2 of Part 6, has the extended meaning given to that term by section 321
superior lease means a lease in respect of which a sublease is entered into
territorial authority, in relation to land, means the territorial authority (within the meaning of the Local Government Act 2002) of the district in which the land is situated
vehicular right of way means an easement—
(a) entitling the owner or occupier of the land benefited by the easement to pass with vehicles over the land burdened by the easement; and
(b) created by—
(i) an instrument registered under the Land Transfer Act 1952; or
(ii) a contract or arrangement that is otherwise enforceable at law or in equity against the person bound
vendor mortgagee means a mortgagee who applies to the Registrar under section 188 to conduct the sale of mortgaged land
working day means a day of the week other than—
(a) Saturday, Sunday, Waitangi Day, Good Friday, Easter Monday, Anzac Day, the Sovereign’s Birthday, and Labour Day; and
(b) a day in the period commencing with 25 December and ending with 2 January in the following year; and
(c) the day observed as the anniversary of any province in which an act is to be done.
Compare: 1952 No 51 s 2
