Insolvency Act 1967

• Jurisdiction: New Zealand
• Citation: 1967 No 54
• Reference: 1967 No 54
• Record Number: DLM382333
• Act Number: 54
• Type of Document: Act

Contenidos

• Insolvency Act 1967
• Preamble
• Contents
• 1 Short Title and commencement
• 2 Interpretation
• 3 Rights and powers under other Acts not affected
• 4 Act to bind Crown
• Part 1
• 5 Jurisdiction and powers of Court
• 6 Powers of Registrars and District Court Judges
• 7 Questions of fact may be tried before jury
• 8 Rehearings and appeals
• 9 Effect of appeal
• 10 Court may extend time
• 11 Proceedings not annulled by defects
• 12 Solicitors' costs
• 13 Power to make rules
• 14 Regulations
• Part 2
• 15 Appointment of Official Assignee for New Zealand, etc
• 16 Assignee may act on behalf of another Assignee
• 17 Office and name of Assignee
• 18 Vacation of office
• Part 3
• 19 Acts of bankruptcy
• 20 Bankruptcy notice
• 21 Petition by debtor
• 22 Debtors' joint petition
• 23 Petition by creditor
• 24 Restrictions on execution
• 25 Where petitioner is a secured creditor
• 26 Court's power on creditor's petition
• 27 Court may appoint Assignee as receiver
• 28 Date of adjudication
• 28A Date of adjudication to be recorded
• 29 Registrar to give notice of adjudication to Assignee
• 30 Order of adjudication to be final
• Part 4
• 31 Assignee to advertise adjudication
• 32 Effect of adjudication on Court proceedings
• 33 Assignee to send notice to bankrupt
• 34 First meeting of creditors
• 34A Assignee may dispense with first meeting of creditors
• 35 Particulars to be supplied by Assignee
• 36 Further meetings
• 37 Conduct of meetings
• 38 Quorum at meetings
• 39 Representation at meetings
• 40 Voting at meetings
• 41 Appointment of expert or committee to assist Assignee
• Part 5
• 42 Property passing to Assignee and commencement of bankruptcy
• 43 Loans by wife to husband, and by husband to wife
• 44 Restrictions on bankrupt dealing with property
• 45 Assignee may require bankrupt to contribute towards payment of debts
• 45A Court may order that money due to bankrupt be assigned to Assignee
• 45B Application of section 104 to payments by bankrupt or assignments by Court
• 46 Onus of proof in connection with default in payment
• 47 Protection of certain transactions against relation back
• 48 Validity of certain other transactions with bankrupt
• 49 Dealings with undischarged bankrupt: bank accounts
• 50 Rights of execution creditor and duties of Sheriff
• 51 Assignment of money payable to dairy farmer in respect of sales of milk
• 52 Bankrupt allowed to retain furniture, tools of trade, etc
• 53 Assignee may make allowance to bankrupt
• 54 Voidable gifts
• 55 Proceedings where bankrupt has improved property of another person
• 56 Voidable preferences
• 57 Voidable securities
• 58 Assignee may recover property or value thereof
• 59 Procedure on second bankruptcy
• Part 6
• 60 General duties of bankrupt
• 61 Bankrupt to give up books, etc, to Assignee and to make out statement of financial position, etc
• 62 Prohibition of bankrupt entering business
• 63 Court may order debtor to be arrested
• 64 Court may order debtor's property to be seized
• 65 Seizure of bankrupt's property
• 66 Bankrupt refusing to quit tenement
• 67 Redirection to Assignee of letters of bankrupt
• 68 Assignee may examine persons respecting bankrupt or his property
• 68A Assignee may obtain documents
• 69 If Assignee or creditors desire it, bankrupt to be publicly examined
• 70 Privilege and representation of witnesses
• Part 7
• 71 Assignee's general powers
• 72 Power of Assignee to sell
• 73 No lien over bankrupt's books, etc
• 74 Assignee may exercise bankrupt's right to transfer stock, etc
• 75 Disclaimer of onerous property other than shares
• 76 Termination of contracts
• 77 Termination of a contract otherwise than by Assignee
• 78 Disclaimer of liability under shares
• 79 Liability for rentcharge on bankrupt's land after disclaimer
• 80 Assignee's duties in respect of land subject to a mortgage
• 81 Banking and investment of money received by Assignee
• 82 Bankruptcies involving partnerships
• 83 Bankruptcy discharges liability of bankrupt and certain employees
• 84 Discretion of Assignee
• 85 Assignee may obtain directions of Court
• 86 Appeal from decision of Assignee
• Part 8
• 87 Provable debts
• 88 Creditors to prove upon adjudication
• 89 Assignee to examine proofs and admit or reject
• 90 Proof by secured creditors
• 91 Goods on hire purchase
• 92 Trade discounts
• 93 Set-off
• 93A Definitions relating to set-off under netting agreement