Companies Act 1955 Liquidation Regulations 1994

Reprint as at 18 October 2016

Coat of Arms of New Zealand

Companies Act 1955 Liquidation Regulations 1994

(SR 1994/129)

Catherine A Tizard, Governor-General

Order in Council

At Wellington this 20th day of June 1994

Present:
The Hon J M Shipley presiding in Council

Note

Changes authorised by subpart 2 of Part 2 of the Legislation Act 2012 have been made in this official reprint.

Note 4 at the end of this reprint provides a list of the amendments incorporated.

These regulations are administered by the Ministry of Business, Innovation, and Employment.

Pursuant to section 251 (as substituted by section 41 of the Companies Amendment Act 1993) and section 291A (as inserted by section 2 of the Companies Act 1955 Amendment Act 1994) of the Companies Act 1955, Her Excellency the Governor-General, acting by and with the advice and consent of the Executive Council, hereby makes the following regulations.

Contents

1Title and commencement
2Interpretation
3Application of regulations
4Forms
5Prescribed amount for statutory demand
6Claim by unsecured creditor
7Secured creditor valuing security and claiming as unsecured creditor for balance due
8Amendment of liquidator’s decision in relation to claim
9Trade discounts
10Periodical payments
11Employees’ claims
12Notice to creditors to claim
13Failure to claim by day fixed for claims
14Failure to establish priority by day fixed for claims
15Dividends in respect of rejected claims
16Costs of proceedings relating to a liquidator’s decision on claim
17Place of meetings
18List of creditors or members
19Creditors entitled to vote
20Admission and rejection of claims by chairperson of meeting of creditors for purposes of voting
21Cases in which creditors may not vote
22Votes of secured creditors
23Appointment of liquidator, etc, as proxy
24Liquidator not to solicit for proxies
25Irregularity in notice of proxy
26Disqualification from voting
27Use of proxies by liquidator’s nominee
28Remuneration of certain liquidators
29Restrictions relating to remuneration
30Liquidator’s charges
31Restriction on purchase of company’s assets by liquidator or liquidation committee
32Restriction on purchase of goods or services from persons connected with liquidator
33Liquidation committee not to obtain benefit
34Transmission of documents and property to liquidator’s successor
35Fees, expenses, and remuneration of vacating liquidator
36Defect in appointment not to invalidate acts of liquidator
37Deposit of company funds
38Investment of funds
39Liquidator carrying on business
40Service
Gazette Information
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