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Companies Act 1993

Voluntary administration - Resignation and removal of administrator

239Q: Administrator may resign

You could also call this:

“How an administrator can resign and what they must do afterwards”

If you’re the administrator of a company, you can quit your job. To do this, you need to write a letter to the company and the person who gave you the job, telling them you’re quitting.

After you quit, you have two important things to do. First, you need to write to as many of the company’s people who are owed money as you can. You need to tell them that you’ve quit. Second, you need to put an advertisement in the newspaper or online to let everyone know you’ve quit. The way you need to advertise is explained in another part of the law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321511.

Topics:

Business > Industry rules

Business > Fair trading

239P: When office of administrator is vacant, or

“When an administrator's job becomes vacant”

239R: Removal of administrator, or

“How to remove an administrator and appoint a new one”

Part 15A Voluntary administration
Resignation and removal of administrator

239QAdministrator may resign

The administrator may resign by giving written notice to the company and to his or her appointor.
The administrator must—
give written notice of the resignation to as many of the company's creditors as practicable; and
advertise the resignation in accordance with section 3(1)(a).

Compare

Corporations Act 2001 s 449C(1)(c) (Aust)

Notes

Section 239Q: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).
Section 239Q(2)(b): amended, on 1 September 2020, by section 58 of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).