Companies Act 1993

Voluntary administration - Variation and termination of deed

239ADA: Creditors may vary deed

You could also call this:

“Creditors can modify the deed of company arrangement through a resolution”

You and other creditors can change a deed of company arrangement. To do this, you need to pass a resolution at a meeting. This meeting is called under section 239ADF. When you make changes, they can’t be very different from the changes that were suggested in the notice for the 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=DLM321611.

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239ADB: Court may cancel creditors' variation, or

“Court can cancel or change creditors' alterations to company agreements”

Part 15A Voluntary administration
Variation and termination of deed

239ADACreditors may vary deed

  1. The creditors may vary a deed of company arrangement by a resolution passed at a meeting convened under section 239ADF, but the variation must not be materially different from the proposed variation set out in the notice of the meeting.

Compare
  • Corporations Act 2001 s 445A (Aust)
Notes
  • Section 239ADA: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).