Plain language law

New Zealand law explained for everyone

Companies Act 1993

Voluntary administration - Deed administrator

239ACJ: Removal of deed administrator

You could also call this:

“How the court can change who manages a company's debt arrangement”

The court can remove a deed administrator and put someone else in their place. They can also appoint a new deed administrator if the deed of company arrangement is still active but no one is currently doing the job.

You, a creditor of the company, a shareholder, the liquidator (if the company is in liquidation), the FMA (if the company is a financial markets participant), or the Registrar can ask the court to make these changes.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321591.

Topics:
Business > Industry rules
Business > Fair trading
Crime and justice > Courts and legal help
Previous

239ACI: Deed administrator may resign, or

“Deed administrator can quit by writing to the company”

Next

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

“Helping the new deed administrator take over by providing necessary information and support”

Part 15A Voluntary administration
Deed administrator

239ACJRemoval of deed administrator

  1. The court may—

  2. remove the deed administrator, and appoint a person in his or her place; or
    1. appoint a new deed administrator, if the deed of company arrangement has not yet terminated but for some reason no deed administrator is acting.

      1. The court may make an order under subsection (1) on the application of a creditor of the company, a shareholder, the liquidator (if the company is in liquidation), the FMA (if the company is a financial markets participant), or the Registrar.

      Notes
      • Section 239ACJ: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).
      • Section 239ACJ(2): amended, on , by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).