Plain language law

New Zealand law explained for everyone

239ABZ: Person in control of company must lodge revised report with Registrar
or “Update and submit reports when a company in administration becomes liquidated”

You could also call this:

“Administrator's honest actions remain valid if company later liquidates”

If you are the administrator of a company in administration, you don’t need to worry about your actions being undone if the company goes into liquidation later. This is true as long as you acted in good faith. Good faith means you were honest and trying to do the right thing.

When you’re the administrator, you might need to make payments, enter into deals, or do other things for the company. If you do these things honestly and with good intentions, they will stay in place even if the company ends up being liquidated.

This rule helps protect the decisions you make as an administrator. It gives you some peace of mind that your honest efforts won’t be reversed later on.

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Next up: 239ACB: Voidable transactions and voidable dispositions

or “Rules about undoing certain company transactions may not apply during administration”

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Companies Act 1993
Voluntary administration
239ACA: Act of administrator in good faith must not be set aside in liquidation

Part 15A Voluntary administration
Interface with liquidation

239ACAAct of administrator in good faith must not be set aside in liquidation

A payment made, transaction entered into, or any other act or thing done, in good faith, by or with the consent of the administrator of a company in administration, must not be set aside in a liquidation of the company.

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