Receiverships Act 1993

• Jurisdiction: New Zealand
• Citation: 1993 No 122
• Reference: 1993 No 122
• Record Number: DLM327640
• Act Number: 122
• Type of Document: Act

Contenidos

• Receiverships Act 1993
• Preamble
• Contents
• 1 Short Title and commencement
• 2 Interpretation
• 3 Public notice
• 3A Transitional, savings, and related provisions
• 3B Act binds the Crown
• 4 Application
• 5 Who may be appointed as receiver
• 6 Appointment of receivers under deeds and agreements
• 6A What receiver must do before appointment
• 7 Extent of power to appoint receiver
• 8 Notice of appointment
• 9 Application of section 92 of Property Law Act 1952 to receivers
• 10 Notice of receivership
• 11 Vacancy in office of receiver
• 11A Provision of information and assistance to replacement receiver
• 12 Obligations of grantor
• 13 Execution of documents
• 14 Powers of receivers
• 15 Power to make calls on shares
• 16 Validity of acts of receivers
• 17 Consent of mortgagee to sale of property
• 18 General duties of receivers
• 19 Duty of receiver selling property
• 20 No defence or indemnity
• 21 Duty in relation to money
• 22 Accounting records
• 23 First report by receiver
• 24 Further reports by receiver
• 24A Summary report by receiver
• 25 Extension of time for preparing reports
• 26 Persons entitled to receive reports
• 27 Persons entitled to inspect reports
• 28 Duty to notify suspected offences against other Acts
• 29 Notice of end of receivership
• 30 Preferential claims
• 30A Extinguishment of subordinate security interests
• 30B Priorities on distribution by receiver of surplus representing proceeds of personal property
• 30C Surplus may be paid into court
• 30D Meaning of surplus and net proceeds
• 31 Powers of receiver on liquidation or bankruptcy
• 32 Liabilities of receiver
• 33 Relief from liability
• 34 Court supervision of receivers
• 35 Court may terminate or limit receivership
• 36 Meaning of failure to comply
• 37 Orders to enforce receiver's duties
• 38 Special provisions relating to evidence
• 39 Orders protecting property in receivership
• 40 Refusal to supply essential services prohibited
• 40A Instrument may provide for appointment of receiver
• 40B Power of court to appoint receiver
• 40C Powers and duties of receivers
• 40D Constraints on receiver
• 40E Protection for receiver
• 41 Repeals
• 42 Act subject to application of Cape Town Convention and Aircraft Protocol
• Schedules
• 1AA Transitional, savings, and related provisions
• Part 1
• Part 2
• 1 Modifications and exceptions that apply in relation to receivers of assets of local authorities
• 1 Application of modifications and exceptions
• 2 References to directors
• 3 References to liquidator
• 4 References to liquidation
• 5 References to Registrar
• 6 Persons disqualified from appointment
• 7 Exception in relation to obligations of grantor
• 8 Exception in relation to execution of documents
• 9 Section 15 (which relates to power to make calls on shares) not to apply
• 10 Modification of general duties imposed by section 18
• 11 Modifications in relation to reports by receiver
• 12 Reporting of offences
• 13 Exceptions in relation to preferential claims
• 14 Section 31 (which relates to liquidation or bankruptcy) does not apply
• 15 Exception in relation to Commissioners and commission
• 16 Power of Secretary for Local Government and Controller and Auditor-General to make certain applications
• 17 Section 41 (which relates to repeals) not to apply
• 18 Copies of documents
• 1 General
• 2 Legal status
• 3 Editorial and format changes
• 4 Amendments incorporated in this consolidation

Receiverships Act 1993

The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.

Note 4 at the end of this version provides a list of the amendments included in it.

This Act is administered by the Ministry of Business, Innovation, and Employment.

Preamble

An Act to reform the law relating to receivers

Contents

1 Short Title and commencement

This Act may be cited as the Receiverships Act 1993.

This Act shall come into force on 1 July 1994.

2 Interpretation

In this Act, unless the context otherwise requires,—

account receivable has the same meaning as in section 16(1) of the Personal Property Securities Act 1999

company has the same meaning as in section 2(1) of the Companies Act 1993; and includes an overseas company

court means the High Court

creditor includes a person to whom the grantor owes a debt or is under a liability, whether present or future...