Act In force Latest version as at 03 September 2007 (as enacted) | 1998 No 31 | Administered by Ministry of Business, Innovation, and Employment

Companies Amendment Act 1998

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Meaning of redeemable

Liability of former shareholders

Annual meeting of shareholders

Indemnity and insurance

Contents of annual report

Registrar may alter New Zealand register

Short form amalgamation

Liquidator to summon meeting of creditors

Other duties of liquidator

Duties in relation to accounts

Transactions having preferential effect

Voidable charges

Transactions at undervalue

Transactions for inadequate or excessive consideration with directors and certain other persons

Mutual credit and set-off

Establishment of Liquidation Surplus Account

Grounds for removal from register

Service of documents on companies in legal proceedings

Schedule 1 amended

Schedule 5 amended

Companies Amendment Act 1998

Public Act	1998 No 31
Date of assent	3 June 1998

Contents

An Act to amend the Companies Act 1993

BE IT ENACTED by the Parliament of New Zealand as follows:

1 Short Title

This Act may be cited as the Companies Amendment Act 1998, and is part of the Companies Act 1993 (“the principal Act”).

2 Meaning of redeemable

This section substituted s 68 of the principal Act.

3 Liability of former shareholders

This section amended s 98(6)(b) and inserted s 98(6)(c) of the principal Act.

4 Annual meeting of shareholders

This section repealed s 120(1)(a) of the principal Act.

5 Indemnity and insurance

This section substituted s 162(5)(c) of the principal Act.

6 Contents of annual report

(1)
- (a) This paragraph repealed s 211(1)(d) of the principal Act.
- (b) This paragraph amended s 211(1)(f) of the principal Act.
- (c) This paragraph amended s 211(1)(h) of the principal Act.
(2) This subsection amended s 211(2) of the principal Act.

(3) This subsection substituted s 211(3) and inserted s 211(4) of the principal Act.

7 Registrar may alter New Zealand register

This section inserted s 214A of the principal Act.

8 Short form amalgamation

This section amended s 222(2) of the principal Act.

9 Liquidator to summon meeting of creditors

(1)
- (a) This paragraph amended s 243(1)(a) of the principal Act.
- (b) This paragraph amended s 243(1)(b) of the principal Act.
(2) This subsection inserted s 243(1A) of the principal Act.

(3) This subsection amended s 243(2)(b) of the principal Act.

(4) This subsection amended s 243(4) of the principal Act.

(5) This subsection inserted s 243(4A) of the principal Act.

10 Other duties of liquidator

This section inserted s 255(6) of the principal Act.

11 Duties in relation to accounts

This section amended s 256(2)(b) of the principal Act.

12 Transactions having preferential effect

(1) This subsection amended s 292(5)(b) and inserted s 292(5)(c) of the principal Act.

(2) This subsection amended s 292(6)(b) and inserted s 292(6)(c) of the principal Act.

13 Voidable charges

(1) This section amended s 293(6)(b) and inserted s 293(6)(c) of the principal Act.

(2) This section amended s 293(7)(b) and inserted s 293(7)(c) of the principal Act.

14 Transactions at undervalue

This section amended s 297(3)(b)(ii) and inserted s 297(3)(b)(iii) of the principal Act.

15 Transactions for inadequate or excessive consideration with directors and certain other persons

This section amended s 298(4)(b) and inserted s 298(4)(c) of the principal Act.

16 Mutual credit and set-off

(1) This subsection amended s 310(6)(b) and inserted s 310(6)(c) of the principal Act.

(2) This subsection amended s 310(7)(b) and inserted s 310(7)(c) of the principal Act.

17 Establishment of Liquidation Surplus Account

This section amended s 316(1) of the principal Act.

18 Grounds for removal from register

This section amended s 318(1)(e) of the principal Act.

19 Service of documents on companies in legal proceedings

This section amended s 387(1)(e) and inserted s 387(1)(f) of the principal Act.

20 Schedule 1 amended

(1) This section amended cl 5(4)(c) and inserted cl 5(4)(d) of Schedule 1 of the principal Act.

(2) This section amended cl 6(3) of Schedule 1 of the principal Act.

21 Schedule 5 amended

(1) This subsection amended cl 2(2)(c) and inserted cl 2(2)(d) of Schedule 5 of the principal Act.

(2) This subsection substituted cl 3(2) and inserted cl 3(2A) of Schedule 5 of the principal Act.

(3) This subsection inserted cl 7(1A) of Schedule 5 of the principal Act.

(4) This subsection inserted cl 11 of Schedule 5 of the principal Act.