This note is not part of the rules, but is intended to indicate their general effect.
These rules amend the High Court Rules. The rules come into force on 1 July 1994. The rules make a number of consequential amendments to the High Court Rules as a result of the enactment of the Companies Act 1993 and the Companies Amendment Act 1993 both of which Acts come into force on 1 July 1994.
The amendments take account of the fact that, as from 1 July 1994, new companies may be incorporated only under the Companies Act 1993 and that the Companies Act 1955 will continue to apply to companies existing before that date (except for those companies that reregister under the Companies Act 1993).
Rule 2 amends rule 60, which relates to the power to order the giving of security for costs, and extends the rule to apply where the plaintiff is a subsidiary under the Companies Act 1993 of an overseas corporation.
Rule 3 amends rule 124 by omitting reference to the winding up of a company and substituting a reference to liquidation. On and after 1 July 1994 companies may be put into liquidation under the Companies Act 1955 or the Companies Act 1993, as the case may be. The term winding up will no longer be used.
A large number of the amendments to the rules fall into this category.
Rule 4 substitutes a new rule 198 relating to service on New Zealand corporations. The new rule distinguishes between service of documents on companies and other corporations. The new rule makes it clear that service on a company must be effected in accordance with the Companies Act 1955 or the Companies Act 1993, as the case may be. The provision of the existing rule will continue to apply in relation to service on other corporations.
Rule 5 substitutes a new rule 199 relating to service on overseas corporations and is similar to the new rule 4.
The amendments to rules 416B, 416C, and 416K substitute references to winding up with references to liquidation. These rules form part of a series of rules relating to the procedure that applies where the Court makes under rule 458A an order for reduction of share capital. Such an order will be able to be made only in relation to a company registered under the Companies Act 1955.
Rule 9 effects a consequential change in terminology in rule 425.
Rules 10, 11, and 12 extend Part 4 to proceedings under the Companies Act 1993. Part 4 makes special provision in the case of proceedings under certain Acts and other specified proceedings.
Rule 12 amends rule 458D. Rule 458D provides that an application under section 205 of the Companies Act 1955 may be made by originating application. That section confers power to approve amalgamations and reconstructions. With effect from 1 July 1994 the corresponding power will be contained in section 209R of that Act and, in the case of companies under the Companies Act 1993, section 236 of that Act. Rule 458D is extended to apply to both sections.
The rule is also amended to enable applications to set aside a statutory demand under section 264 of the Companies Act 1955 or section 290 of the Companies Act 1993 to be by way of originating application.
Rules 14 to 28 amend a number of rules contained in Part 9A which relates to the procedure in the case of winding up by the Court. The amendments principally effect changes in terminology and extend Part 9A to liquidation under the Companies Act 1993.
Rule 29 substitutes new forms for the existing forms 64A to 64O. The changes to the forms are principally consequential.
Rule 30 is a transitional provision. The new rules will not affect existing windings up. The High Court Rules, as in force before 1 July 1994, will continue to apply to existing windings up.