Insolvency Amendment Act 1986
Insolvency Amendment Act 1986
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Insolvency Amendment Act 1986
Insolvency Amendment Act 1986
Public Act |
1986 No 91 |
|
Date of assent |
6 November 1986 |
|
Contents
An Act to amend the Insolvency Act 1967
BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:
1 Short Title
This Act may be cited as the Insolvency Amendment Act 1986, and shall be read together with and deemed part of the Insolvency Act 1967 (hereinafter referred to as the principal Act).
2 Bankrupt allowed to retain furniture, tools of trade, etc.
(1)
Section 52 of the principal Act is hereby amended—
(a)
By omitting from subsection (1) the expression “one hundred dollars”
, and substituting the expression “$500”
:
(b)
By omitting from that subsection the expression “three hundred dollars”
, and substituting the expression “$2,000”
:
(c)
By omitting from paragraph (a) of the proviso to that subsection the expression “one hundred dollars”
, and substituting the expression “$500”
:
(d)
By omitting from paragraph (b) of the proviso to that subsection the expression “three hundred dollars”
, and substituting the expression “$2,000”
:
(e)
By omitting from subsection (2) the expression “one hundred dollars”
, and substituting the expression “$500”
:
(f)
By omitting from that subsection the expression “three hundred dollars”
, and substituting the expression “$2,000”
.
(2)
Section 52 of the principal Act is hereby further amended by adding the following subsection:
“(4)
The Governor-General may from time to time, by Order in Council, amend subsection (1), or the proviso to that subsection, or subsection (2), of this section by increasing any amount specified in that provision.”
3 Assignee may make allowance to bankrupt
(1)
Section 53(2) of the principal Act is hereby amended by omitting the expression “forty dollars”
, and substituting the expression “$400”
.
(2)
Section 53 of the principal Act is hereby further amended by adding the following subsection:
“(3)
The Governor-General may from time to time, by Order in Council, amend subsection (2) of this section by increasing the amount specified in that subsection.”
This Act is administered in the Department of Justice.
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Versions
Insolvency Amendment Act 1986
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