Insolvency Regulations 1970

  • revoked
  • Insolvency Regulations 1970: revoked, on 3 December 2007, by section 443(2) of the Insolvency Act 2006 (2006 No 55)

Reprint
as at 3 December 2007

Insolvency Regulations 1970

(SR 1970/260)

  • Insolvency Regulations 1970: revoked, on 3 December 2007, by section 443(2) of the Insolvency Act 2006 (2006 No 55).


Note

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

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

These regulations are administered in the Department for Courts


PURSUANT to the Insolvency Act 1967, His Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby makes the following regulations.

Contents


1 Title and commencement
  • (1) These regulations may be cited as the Insolvency Regulations 1970.

    (2) These regulations shall come into force on the 1st day of January 1971 (being the date appointed for the commencement of the Insolvency Act 1967).

2 Interpretation
  • In these regulations, unless the context otherwise requires,—

    The Act means the Insolvency Act 1967

    The Rules means the Insolvency Rules 1970.

    Words and expressions defined in the Act shall have the meanings so defined.

3 Forms
  • Where any form in Schedule 1 hereto is prescribed or authorised to be used, such variations may be made therein as the circumstances of any particular case may require.

4 Office
  • Every Official Assignee shall have an office for the transaction of business.

5 Fees
  • (1) The Registrar shall receive and take in respect of the filing of a petition of adjudication the following fees:

     $
    In the case of a creditor's petition (whether filed under section 23 or section 26(9) of the Act)455
    In the case of a debtor's petition40

    Provided that no fee shall be received or taken by the Registrar in respect of the filing of any such petition in any case in which the Official Assignee satisfies the Registrar that there are no immediately available assets out of which to pay fees.

    (2) The Registrar shall receive and take in respect of the filing of a request for the issue of a bankruptcy notice a fee of $115.00.

    (3) The Registrar shall receive and take in respect of the filing of an interlocutory application a fee of $165.

    (4) No other fee (except sheriffs' fees) shall be payable in the High Court in respect of matters or proceedings under the Act.

    (5) The fees to be taken in respect of proceedings under the Act in the Court of Appeal are those prescribed by the Court of Appeal Fees Regulations 2001 in respect of proceedings in that Court.

    (6) The fees to be taken in respect of proceedings under the Act in the Supreme Court are those prescribed by the Supreme Court Fees Regulations 2003 in respect of proceedings in that Court.

    The reference to the Court of Appeal Fees Regulations 1997 was substituted for a reference to the Court of Appeal Fees Regulations 1992, as from 1 January 1998, pursuant to rule 5(1) Court of Appeal Fees Regulations 1997 (SR 1997/335)

    Regulation 5 was substituted, as from 1 July 1992, by regulation 2 Insolvency Regulations 1970, Amendment No 9 (SR 1992/137).

    Subclause (1) was amended, as from 15 October 2001, by regulation 3(1) Insolvency Amendment Regulations 2001 (SR 2001/105) by substituting the expression 455 for the expression 200. See regulation 2 Insolvency Amendment Regulations 2001 as to the change in commencement date of those Regulations.

    Subclause (2) was amended, as from 15 October 2001, by regulation 3(2) Insolvency Amendment Regulations 2001 (SR 2001/105) by substituting the expression $115 for the expression $165. See regulation 2 Insolvency Amendment Regulations 2001 as to the change in commencement date of those Regulations.

    Subclause (5) was substituted, as from 1 April 2004, by regulation 3 Insolvency Amendment Regulations 2004 (SR 2004/33).

    Subclause (6) was inserted, as from 1 April 2004, by regulation 3 Insolvency Amendment Regulations 2004 (SR 2004/33).

6 Records and accounts
  • (1) The Assignee shall keep a file or files of each estate administered by him.

    (2) The following records shall be kept by the Assignee:

    • (a) A Bankruptcy Record Book:

    • (b) A Register of Claims:

    • (c) An Estate Ledger:

    • (d) A Cash Book:

    • (e) A Register of Unrealised Assets:

    • (f) Such further records as the Secretary for Justice directs.

7 Bankruptcy Record Book
  • The Bankruptcy Record Book shall be in such form as the Secretary for Justice may from time to time direct. There shall be entered in it the name, address, and occupation of every bankrupt whose estate is administered by the Assignee. It shall also contain an index of the names of bankrupts in alphabetical order.

8 Register of Claims
  • The Register of Claims shall be in such form as the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act may from time to time direct, and shall have recorded in it the name and address of each creditor who proves his claim in any bankruptcy together with the amount of his claim and the amount for which it is admitted and whether the claim is preferential or not. All dividends paid by the Assignee shall also be recorded.

    Regulation 8 was amended, as from 1 October 1995, by section 12(2) Department of Justice (Restructuring) Act (1995 No 39), by substituting the words chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act for the words Secretary for Justice.

9 Estate Ledger
  • The Estate Ledger shall be in such form as the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act may from time to time direct, and shall be balanced with the Cash Book at the end of each calendar month.

    Regulation 9 was amended, as from 1 October 1995, by section 12(2) Department of Justice (Restructuring) Act (1995 No 39), by substituting the words chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act for the words Secretary for Justice.

10 Cash Book
  • The Cash Book shall be in such form as the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act may from time to time direct. Subject to any directions of the Audit Office as to trading accounts, all receipts and payments made by the Assignee shall be entered in the Cash Book.

    Regulation 10 was amended, as from 1 October 1995, by section 12(2) Department of Justice (Restructuring) Act (1995 No 39), by substituting the words chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act for the words Secretary for Justice.

11 Register of Unrealised Assets
  • The Register of Unrealised Assets shall be in such form as the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act may from time to time direct. In it shall be recorded all assets unrealised by the Assignee at the time he declares a final dividend.

    Regulation 11 was amended, as from 1 October 1995, by section 12(2) Department of Justice (Restructuring) Act (1995 No 39), by substituting the words chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act for the words Secretary for Justice.

12 Bank accounts
  • The Assignee shall pay all money received by him into a bank account to his own credit as Official Assignee:

    Provided that special bank accounts may be used in specific cases with the approval of the Audit Office.

Advertisements and notices

13 Notices may relate to more than one bankruptcy
  • Notices required to be advertised by the Assignee may be framed to comprise notices concerning more bankruptcies or other matters than one in one advertisement.

14 Headings to notices and proceedings
  • All notices and proceedings advertised by the Official Assignee (except those advertised pursuant to Part 17 of the Act) shall be headed by the words In Bankruptcy in letters larger than those adopted in printing the body of the notices or proceedings advertised, but one heading shall be sufficient for a column if the matters referred to therein are all in bankruptcy.

15 Advertising in newspaper
  • Where any notice or proceeding is required to be advertised by the Official Assignee, it shall be sufficient compliance if it is published in one or more newspapers published or generally circulated where the proceedings are filed.

16 Notices to be gazetted
  • Notices required to be advertised by the Assignee shall also be forwarded by him to the Government Printer to be published in the Gazette free of costs to the estate.

17 Service
  • Subject to the Rules, notices and documents that are required by the Act to be served on or sent to any person by the Assignee, and are not by the Act directed to be served personally, may be sent by ordinary letter post addressed to the last known place of business or abode of the person.

18 Assignee's notice to bankrupt
  • The notice required by section 33 of the Act may be either delivered to the bankrupt personally or sent to him by letter post, and shall be in form 1 in Schedule 1 hereto, and shall be accompanied by the form of statements of affairs as set out in form 2 in that Schedule and the form of prescribed questions as set out in form 3 in that Schedule, and where appropriate the form of additional questions as set out in form 4 in that Schedule.

19 Notice of first meeting of creditors
  • A notice calling a first meeting of creditors shall be in form 5 in Schedule 1 hereto and where a meeting is called without the bankrupt having filed his statement of affairs that fact shall be notified to the creditors.

20 Time for sending notices
  • Notices to attend meetings of creditors shall be sent by the Official Assignee so as to give as much notice as possible.

21 Notice of subsequent meetings of creditors
  • A notice calling a meeting of creditors other than a first meeting of creditors shall be in form 6 in Schedule 1 hereto, and shall state the business to be transacted at the meeting.

22 Place of meetings
  • Where a meeting of creditors is adjourned, the adjourned meeting shall be held at the same place as the original place of meeting, unless the Assignee or chairman fixes another place at the time of the adjournment.

23 Proof of debt
  • A creditor desiring to prove his debt shall deliver to or send by post to the Assignee as soon as may be, particulars of his claim in form 7 in Schedule 1 hereto signed by the creditor or by some person authorised by him on that behalf who has knowledge of the debt.

24 Assignee to endorse proof of debt
  • The Assignee shall endorse on the proof of debt form whether he admits or rejects the claim (either wholly or in part) and if he admits it whether the claim is preferential or not.

25 Notice of rejection or deferment
  • If the Assignee rejects the claim either wholly or in part or defers it, he shall give notice to the creditor in form 8 in Schedule 1 hereto.

26 Notice of dividend to be notification of admission of proof
  • Where a creditor's proof has been admitted the notice of dividend shall be sufficient notification to that creditor of the admission.

Joint and separate estates

27 Adjudication against a firm
  • Where an order of adjudication is made against a firm, the joint and separate creditors shall collectively be convened to the first meeting of creditors.

28 Proposals for compositions
  • (1) At the first meeting, or any adjournment thereof, the joint creditors and each set of separate creditors may severally entertain proposals for compositions under Part 12 of the Act. So far as circumstances will allow, a proposal entertained by joint creditors may be confirmed and approved in the prescribed manner, notwithstanding that the proposals or proposal of some or one of the debtors made to their or his separate creditors may not be entertained, confirmed, and approved.

    (2) Where proposals for composition are made by a firm and by the partners therein individually, the proposal made to the joint creditors shall be considered and voted upon by them apart from every set of separate creditors, and the proposal made to each separate set of creditors apart from all other creditors. Such proposals may vary in character and amount. Where a composition is approved, the order of adjudication shall be rescinded only so far as it relates to the estate the creditors of which have confirmed the composition.

29 Adjudication of a partnership
  • (1) On the adjudication of a partnership, the bankrupts shall submit a statement of their partnership affairs, and each bankrupt shall submit a statement of his separate affairs and answers to the prescribed questions.

    (2) On the adjudication of a partnership, for the purposes of section 41 of the Act each set of separate creditors may appoint its own expert or committee to assist the Assignee in the separate estate, but if any set of creditors does not appoint a separate expert or committee the expert or committee (if any) appointed by the joint creditors shall be deemed to have been appointed also by such separate creditors.

30 Where some members of partnership constitute a separate firm
  • If any two or more of the members of a partnership constitute a separate and independent firm, the creditors of the last-mentioned firm shall be deemed to be a separate set of creditors, and to be on the same footing as the separate creditors of any individual member of the firm; and, where any surplus arises upon the administration of the assets of the separate estates of the partners in the separate and independent firm, the surplus shall be carried over to the separate estates of the partners in the separate and independent firm according to their respective rights therein.

31 Remuneration of expert or committee
  • Where joint and separate estates are being administered, the remuneration of the expert or committee in respect of the administration of the joint estate may be fixed by the creditors of the joint estate, and the remuneration of the expert or committee in respect of the administration of any separate estate may be fixed by the creditors of the separate estate.

32 Incidence of costs and charges between joint and separate estates
  • (1) Where the joint estate of any co-debtors is insufficient to defray any costs or charges properly incurred before the order of adjudication, the Official Assignee may pay the amount of the deficiency in respect of those costs or charges out of the separate estate of the co-debtors, or one or more of them, in such proportions as in his discretion he may think fit. The Assignee may also, as in his discretion he may think fit, pay any costs or charges properly incurred before the order of adjudication for any separate estate out of the joint estate, or out of any other separate estate, and any part of the costs or charges of the joint estate incurred before the adjudication which affects any separate estate, out of that separate estate.

    (2) Where the joint estate of any co-debtors is insufficient to defray any costs or charges properly incurred after the adjudication, the Assignee may pay the costs or charges out of the separate estates of the co-debtors, or one or more of them.

Leave of Assignee to enter business

33 Applications for leave
  • Every application to the Assignee by a bankrupt under section 62 of the Act for leave to enter or carry on or take part in the management of a business shall be made in writing by the bankrupt or his solicitor and shall be verified by affidavit, and shall set out the reasons for the application, whether the business is a new business, what capital (if any) it is intended that the bankrupt or any other person will put into the business, and such other particulars as the Assignee may require.

34 Assignee's discretion to grant or refuse leave
  • The Assignee, having regard to the interests of the bankrupt, the creditors, and the community, may in his discretion refuse leave or grant leave either unconditionally or upon such conditions as he thinks fit.

Composition

35 Proposal for composition
  • When the creditors, pursuant to section 121 of the Act, resolve to entertain a proposal for a composition, the terms of the composition shall be settled at the first meeting, or adjournments thereof. The subsequent meeting shall be held for the purpose of confirming or rejecting the composition.

36 Resolution for composition
  • Every resolution for a composition or instrument embodying the terms of a proposed composition which is to be submitted to the Court pursuant to section 122 of the Act shall, in addition to the other particulars required to be contained therein, specify the manner (if any) in which the payments of the composition are to be secured.

37 Remedy for default under composition
  • Where a composition is sanctioned, and default is made in any payment thereunder, either by the bankrupt or the trustee (if any), no action to enforce the payment shall lie, but the remedy of any person aggrieved shall be by application to the Court.

38 Dispute as to claim under composition
  • Where under any composition provision is made for the payment of any money to creditors entitled thereto, and any claim in respect of which a proof has been lodged is disputed, the Court may, if it thinks fit, direct that the amount which would be payable upon the claim if it is established shall be secured in such manner as the Court directs until the determination of the claim so disputed, and on the determination thereof the sum so secured shall be paid as the Court may direct.

39 Proof of debts after approval of composition
  • Every person claiming to be a creditor under any composition who has not proved his debt before the approval of the composition shall lodge his proof with the trustee thereunder, who shall admit or reject the proof; and no creditor shall be entitled to enforce payment of any part of the sums payable under a composition unless and until he has proved his debt and his proof has been admitted.

Consent of Assignee for bankrupt to leave New Zealand

40 Application for consent
  • Every application for the consent of the Assignee to the departure of a bankrupt from New Zealand shall be made in writing by the bankrupt or his solicitor and shall be verified by affidavit and contain particulars of the bankrupt's proposed departure, including—

    • (a) His reasons for leaving New Zealand; and

    • (b) Whether he intends to return to New Zealand; and

    • (c) The approximate date of his departure and, where applicable, the approximate date of his return.

41 Assignee's discretion to grant or refuse application
  • The Official Assignee, having regard to the interests of the creditors, may in his discretion refuse any such application or grant it either unconditionally or upon or subject to such conditions as he thinks fit.

42 Setting aside voidable dispositions
  • (1) Where pursuant to section 58 of the Act an Assignee wishes to set aside a disposition, the notice which he shall file in the Court shall be in form 9 in Schedule 1 hereto.

    (2) A copy of that notice shall be given to the person to whom the disposition was made and to any other person from whom the Assignee wishes to recover the property, or any part of it, or the value of any part of it.

43 Disclaimer of onerous property other than shares
  • A disclaimer of onerous property other than shares under section 75 of the Act shall be in form 10 in Schedule 1 hereto.

44 Termination of contract
  • Notice of termination of a contract under section 76 of the Act shall be in form 11 in Schedule 1 hereto.

45 Disclaimer of shares
  • Notice of disclaimer of shares under section 78 of the Act shall be in form 12 in Schedule 1 hereto.

Second bankruptcies

46 Assignee's commission
  • Where an undischarged bankrupt again became bankrupt and the Assignee of the later bankruptcy has paid the debts of that bankruptcy in full (including interest), the surplus to be paid to the Assignee of the former bankruptcy shall not be subject to Assignee's commission by the Assignee of the later bankruptcy.

Investment of money

47 General approval of investment
  • Without restricting the provisions of section 81 of the Act, the Audit Office may give to an Assignee a general approval for the investment of estate money in some savings bank or banks subject to money in each estate being invested separately.

Discharge

48 Certificate of discharge
  • The Assignee shall in January each year send a certificate in form 13 in Schedule 1 hereto to each bankrupt discharged during the previous year under the provisions of subsection (1) of section 107 of the Act. A copy of the certificate shall be filed in the Court and a copy forwarded to the chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act. No fee shall be paid for filing a copy of the certificate in the Court.

    Regulation 48 was amended, as from 1 October 1995, by section 12(2) Department of Justice (Restructuring) Act (1995 No 39), by substituting the words chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act for the words Secretary for Justice.

Fees for audit of Assignee's accounts

  • The heading Fees for Audit of Assignee's Accounts was inserted, as from 11 April 1988, by regulation 3 Insolvency Regulations 1970, Amendment No 6 (SR 1988/32).

  • The heading Fees for Audit of Assignee's Accounts was revoked, as from 19 March 1990, by section 5(5)(a) Insolvency Amendment Act 1990 (1990 No 7).

48A Scale of fees payable to Audit Office
  • [Revoked]

    Regulation 48A was inserted, as from 11 April 1988, by regulation 3 Insolvency Regulations 1970, Amendment No 6 (SR 1988/32).

    Regulation 48A was revoked, as from 19 March 1990, by section 5(5)(a) Insolvency Amendment Act 1990 (1990 No 7).

Assignee's commission

  • The heading Assignee's Commission was substituted, as from 11 April 1988, by regulation 3 Insolvency Regulations 1970, Amendment No 6 (SR 1988/32).

49 Scale of commission
  • The commission to be paid to the Assignee pursuant to section 166 of the Act shall be in accordance with the scale set out in Schedule 3 to these regulations.

    Regulation 49 was substituted, as from 11 April 1988, by regulation 3 Insolvency Regulations 1970, Amendment No 6 (SR 1988/32).

50 Costs in case of a partnership
  • In the case of a bankruptcy petition against a partnership, the costs payable out of the estates incurred up to and inclusive of the order of adjudication shall be apportioned between the joint and separate estates in such proportions as the Assignee may in his discretion determine.

Proposals

51 Notice of meeting and voting letter
  • (1) Every notice of the date, time, and place of a meeting of creditors given under paragraph (a) of subsection (2) of section 141 of the Act shall be in form 14 in Schedule 1 hereto and shall, in addition to the documents mentioned in paragraphs (b) to (e) of that subsection, be accompanied by a list of the creditors affected by the proposal and showing the amounts of their claims.

    (2) The voting letter required by paragraph (e) of subsection (2) of section 141 of the Act shall be in form 16 in Schedule 1 hereto.

52 Advertisement of meeting
  • The provisional trustee shall also cause notice of the time and place of the meeting to be advertised not less than 7 days before the meeting is held in a newspaper circulating in the district in which the meeting is to be held. The advertisement shall be in form 15 in Schedule 1 hereto.

53 Quorums at meetings
  • (1) At a meeting of creditors under Part 15 of the Act two creditors or their representatives actually present at the meeting shall constitute a quorum.

    (2) If no quorum is present at the meeting the proposal shall be deemed to be not accepted by the creditors.

54 Insolvent to attend meetings
  • The insolvent shall, unless prevented by illness or other sufficient cause, attend every meeting of creditors under Part 15 of the Act, and shall answer to the best of his knowledge and ability all questions put to him by the chairman or any creditor in respect of his conduct, dealings, property, and affairs. The failure of the insolvent to attend a meeting shall not affect the validity of any resolution passed at the meeting.

55 Minutes of meetings
  • The chairman shall cause minutes of the proceedings at the meeting to be kept and shall sign the same.

56 Resolution accepting proposal
  • The resolution accepting the proposal shall be in form 17 in Schedule 1 hereto.

57 Voting by preferential creditors
  • For computing the requisite majority of creditors for the passing of a resolution accepting a proposal which contains an offer to compromise at less than 100 cents in the dollar, preferential creditors shall not be reckoned either in number or value except as to any part of their claim which is not preferential.

58 Certain provisions of section 89 of Act to apply to trustees
  • The provisions of subsection (1) and subsections (3) to (8) of section 89 of the Act shall apply as if the trustee was an Official Assignee and the insolvent was a bankrupt.

59 Fee of trustee
  • When a proposal is accepted by the creditors, the trustee, in addition to his proper expenses, shall be entitled to a fee according to the same scale as for Assignee's commission:

    Provided that on the application of the trustee the Court may approve a higher fee.

60 Notice of hearing of application
  • The notice of hearing of application required by subsection (1) of section 143 of the Act shall be in form 18 in Schedule 1 hereto.

61 Trustee's accounts
  • (1) The abstract showing receipts and payments as required by subsection (3) of section 144 of the Act shall be in form 19 in Schedule 1 hereto.

    (2) The Registrar of the Court may direct that the abstract when filed be audited by a chartered accountant.

    (3) If, on the application of a creditor, or on his own motion, the Registrar considers that an audit of the trustee's accounts and records is desirable he shall cause an audit of the trustee's accounts and records relating to the insolvent to be carried out by a chartered accountant.

    (4) For the purpose of an audit under this regulation the trustee shall produce to the auditor as and when required such books, documents, writings and information as the auditor requires. The cost of any such audit shall be paid out of the money available under the proposal.

    (5) The Court may order that the trustee make good any loss that has been sustained by reason of any misfeasance, negligence, or wilful default of the trustee, or may make such other order as it thinks just and equitable in the circumstances.

62 Appointment of new trustee
  • (1) When a trustee dies or becomes incapable of acting or desires to be relieved of his duties, the creditors may, by resolution at a meeting called for that purpose, appoint some other person willing to act to be the trustee.

    (2) The Court may, on the application of the insolvent or any creditor, remove a trustee and appoint another person as trustee in his place.

    (3) If, under the proposal or any deed entered into in terms of the proposal, property vests in the trustee first appointed, that property shall vest in the second trustee without the necessity of any conveyance, assignment, or transfer, and all matters and transactions left uncompleted by the first trustee shall be completed by the second trustee.

    (4) All payments made, all acts and things done, all transactions entered into, and all liabilities incurred by the first trustee in good faith and in exercise of his powers shall be binding on the second trustee.

    (5) A meeting called for the purpose of this rule may be called by the first trustee (if he is capable) or by any creditor.

Miscellaneous provisions

63 Where bankrupt has no available assets
  • Where a bankrupt has no available assets, the Assignee shall not be required to incur any expense in relation to his estate without a guarantee from the creditors, or some of them.

64 Application of Witnesses and Interpreters Fees Regulations 1969
  • The Witnesses and Interpreters Fees Regulations 19691 shall apply to any examination pursuant to section 68 of the Act.


Schedule 1
Forms

Form 1
Notice to Bankrupt

Reg 18

.

Form 2
Statement of Bankrupt's Affairs

Reg 18

.
.
.
.

Form 3
Prescribed Questions

Reg 18

.
.
.

Form 4
Additional Questions When Bankrupt in Business During Last Three Years

Reg 18

.
.

Form 5

Reg 19

.

Form 6
Notice of Meetings of Creditors

Reg 21

.

Form 7
Proof of Debt—General Form

Reg 23

.
.

Form 8
Notice of Rejection of Proof of Debt

Reg 25

.

Form 9
Notice of Setting Aside of Disposition

Reg 42

.
  • Form 9 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 10
Disclaimer of Property (Other Than Shares)

Reg 43

.
  • Form 10 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 11
Notice of Termination of Contract

Reg 44

.
  • Form 11 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 12
Notice of Disclaimer of Shares

Reg 45

.
  • Form 12 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 13
Certificate of Discharge

Reg 48

.
  • Form 13 of Schedule 1 was amended as from 30 June 1995, by section 12(2) Department of Justice (Restructuring) Act (1995, No 39), by substituting the words chief executive of the department of State that, with the authority of the Prime Minister, is for the time being responsible for the administration of the Act for the words Secretary for Justice.

  • Form 13 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 14
Notice of Proposal to Creditors by Insolvent Person

Reg 51(1)

.
  • Form 14 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 15
Advertisement of Proposal by Insolvent Person

Reg 53

.
  • Form 15 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 16
Voting Letter

Reg 51(2)

.

Form 17
Resolution Accepting Proposal

Reg 56

.

Form 18
Notice of Hearing of Application to Court for Approval of Proposal

Reg 60

.
  • Form 18 was amended, as from 1 April 2004, by regulation 4 Insolvency Amendment Regulations 2004 (SR 2004/33) by substituting the words High Court for the words Supreme Court wherever they occur.

Form 19
Abstract of Receipts and Payments

Reg 61(1)

.

Schedule 2
Fees payable to Audit Office

Reg 48A

[Revoked]

  • Schedule 2 was substituted, as from 11 April 1988, by regulation 4 Insolvency Regulations 1970, Amendment No 6 (SR 1988/32).

  • Schedule 2 was revoked, as from 19 March 1990, by section 5(5)(b) Insolvency Amendment Act 1990 (1990 No 7).

Schedule 3
Assignee's commission

Reg 49

  • Schedule 3 was inserted, as from 11 April 1988, by regulation 4 Insolvency Regulations 1970, Amendment No 6 (SR 1988/32).

.

PJ BROOKS,

Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations prescribe the forms to be used, the steps to be taken, and the accounts to be kept in the administration of the estates of bankrupts, and of insolvent estates being administered under proposals under Part 15 of the Insolvency Act 1967. They prescribe the commission payable to Official Assignees, and generally cover the matters contemplated in section 14 of the Insolvency Act 1967


Issued under the authority of the Regulations Act 1936.

Date of notification in Gazette: 17 December 1970.


Insolvency Act 2006

Public Act2006 No 55
Date of assent7 November 2006
Commencementsee section 2
1 Title
  • This Act is the Insolvency Act 2006.

2 Commencement
  • This Act comes into force on a date to be appointed by the Governor-General by Order in Council; and 1 or more orders may be made bringing different provisions into force on different dates.

Part 7
Offences and miscellaneous provisions

Subpart 4Miscellaneous provisions

444 Transitional provisions
  • (1) In this section,—

    1967 Act means the Insolvency Act 1967 as if it had not been repealed by this Act, and any rules or regulations made under that Act

    commencement means the commencement of Parts 1 to 7 of this Act

    past event means any of the following that has occurred before commencement

    • (a) issuing a bankruptcy notice:

    • (b) filing a petition for adjudication:

    • (c) filing an application for a summary instalment order:

    • (d) the making of a proposal:

    • (e) the making of a compromise:

    • (f) filing an application for an order for the administration of an insolvent deceased estate.

    (2) The 1967 Act continues to apply, to the exclusion of this Act, to any past event and to any step or proceeding preceding, following, or relating to that past event, even if it is a step or proceeding that is taken after commencement.

    (3) For the avoidance of doubt, nothing in subpart 7 of Part 3 permits the cancellation of an irregular transaction that was completed before this section came into force, if that transaction could not have been cancelled if this section had not come into force.


Contents

  • 1General

  • 2About this eprint

  • 3List of amendments incorporated in this eprint (most recent first)


Notes
1 General
  • This is an eprint of the Insolvency Regulations 1970. It incorporates all the amendments to the Insolvency Regulations 1970 as at 3 December 2007. The list of amendments at the end of these notes specifies all the amendments incorporated into this eprint since 3 September 2007. Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

2 About this eprint
  • This eprint has not been officialised. For more information about officialisation, please see "Making online legislation official" under "Status of legislation on this site" in the About section of this website.

3 List of amendments incorporated in this eprint (most recent first)

  • 1 SR 1969/5