Companies Act 1993 Liquidation Amendment Regulations 2007

2007/334

Companies Act 1993 Liquidation Amendment Regulations 2007


Note

These regulations are administered by the Ministry of Economic Development.


  • Preamble

    At Wellington this 29th day of October 2007

Pursuant to section 277 of the Companies Act 1993, His Excellency the Governor-General, acting on the advice and with the consent of the Executive Council, makes the following regulations.

1 Title
  • These regulations are the Companies Act 1993 Liquidation Amendment Regulations 2007.

2 Commencement
  • These regulations come into force on 3 December 2007.

3 Principal regulations amended
  • These regulations amend the Companies Act 1993 Liquidation Regulations 1994.

4 Remuneration of certain liquidators
  • (1) Regulation 28(1)(b)(i) is amended by omitting 65 and substituting 200.

    (2) Regulation 28(1)(b)(ii) is amended by omitting 70 and substituting 200.

    (3) Regulation 28(1)(b)(iii) is amended by omitting 40 and substituting 140.

Diane Morcom,

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, which come into force on 3 December 2007, amend the Companies Act 1993 Liquidation Regulations 1994 (the 1994 Regulations) to increase the fees of certain liquidators and their staff that are set by the 1994 Regulations. The fees are increased—

  • for work undertaken by the liquidator, from $65 per hour to $200 per hour:

  • for work undertaken by an accountant or solicitor employed by the liquidator, from $70 per hour to $200 per hour:

  • for work undertaken by any other employee of the liquidator, from $40 per hour to $140 per hour.


Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notification in Gazette: 1 November 2007.