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Companies Act 1993

Voluntary administration - Administrator's investigation of company's affairs

239AF: Directors' statement of company's position

You could also call this:

“Directors must provide a company overview to the administrator”

You need to give the administrator a statement about your company’s business, property, affairs, and money situation within 5 working days after the company goes into administration. The administrator can give you more time if needed. The administrator will show this statement to the people your company owes money to. They’ll do this at the first meeting with these people. But if the administrator gave you extra time, they’ll show it at a later important meeting called the watershed meeting.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321528.

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239AE: Administrator must investigate company's affairs and consider possible courses of action, or

“Administrator checks company's situation and considers options for creditors”

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239AG: Administrator's right to documents, etc, or

“Administrator's access to company documents and information during voluntary administration”

Part 15A Voluntary administration
Administrator's investigation of company's affairs

239AFDirectors' statement of company's position

  1. Within 5 working days after the administration of a company begins, the directors must give to the administrator a statement about the company's business, property, affairs, and financial circumstances.

  2. The administrator may extend the time for compliance with subsection (1).

  3. The administrator must table the directors' statement—

  4. at the first creditors' meeting; or
    1. if the administrator has extended the time for compliance by the directors, at the watershed meeting.

      Compare
      • Corporations Act 2001 s 438B(2) (Aust)
      Notes
      • Section 239AF: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).