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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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Part 15AVoluntary 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).