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Companies Act 1993

Liquidations - Duties, rights, and powers of liquidators

262: Documents in possession of receiver

You could also call this:

“Receiver must allow liquidator access to company documents while retaining possession”

If you’re a receiver and have documents about a company that’s being liquidated, you don’t have to give them to the liquidator if you need them to do your job. But the liquidator can ask you to let them see these documents at a time that works for both of you. They can also ask for copies of the documents or parts of them.

If the liquidator wants to look at the documents, they can make copies or take notes. If you’re the receiver and the liquidator asks you to show them the documents or make copies, the liquidator has to pay you back for any reasonable costs this causes you.

Remember, if the liquidator asks to see the documents, you need to let them, even if you’re keeping the original documents to do your work as a receiver.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321925.

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261: Power to obtain documents and information, or

“Liquidators can request company documents and information from relevant parties”

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263: Restriction on enforcement of lien over documents, or

“Limits on keeping company documents as security for unpaid debts during liquidation”

Part 16 Liquidations
Duties, rights, and powers of liquidators

262Documents in possession of receiver

  1. A receiver is not required to deliver to a liquidator under section 261 any books, records, or documents that the receiver requires for the purpose of exercising any powers or functions as receiver in relation to property of a company in liquidation.

  2. The liquidator may, from time to time, by notice in writing, require the receiver—

  3. to make such books, records, and documents available for inspection by the liquidator at any reasonable time or times; and
    1. to provide the liquidator with copies of such books, records, and documents or extracts from them.

      1. The liquidator may take copies of such books, records, and documents made available for inspection or extracts from them.

      2. The liquidator must pay the reasonable expenses of the receiver in complying with a requirement of the liquidator under subsection (2).