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New Zealand law explained for everyone

Companies Act 1993

Voluntary administration - Effect of appointment of administrator

239U: Outline of administrator's role

You could also call this:

“Administrator's duties and powers when a company is in administration”

When a company is in administration, you, as the administrator, have a very important job. You take control of everything the company does, owns, and deals with. This means you can run the business, manage its property, and handle its affairs.

You have the power to keep the business going or to make changes. If needed, you can stop parts of the business or even all of it. You can also sell things that belong to the company.

You can do anything that the company or its officers could normally do if the company wasn’t in administration. This gives you a lot of responsibility and the ability to make important decisions for the company during this time.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321516.

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239TA: Provision of information and assistance to replacement administrator, or

“Helping a new administrator take over”

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239V: Administrator's powers, or

“What an administrator can do when managing a company in voluntary administration”

Part 15A Voluntary administration
Effect of appointment of administrator

239UOutline of administrator's role

  1. While a company is in administration, the administrator—

  2. has control of the company's business, property, and affairs; and
    1. may carry on that business and manage that property and those affairs; and
      1. may terminate or dispose of all or part of that business, and may dispose of any of that property; and
        1. may perform any function, and exercise any power, that the company or any of its officers could perform or exercise if the company were not in administration.

          Compare
          • Corporations Act 2001 s 437A(1) (Aust)
          Notes
          • Section 239U: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).