Plain language law

New Zealand law explained for everyone

Companies Act 1993

Liquidations - Duties, rights, and powers of liquidators

264: Delivery of document creating charge over property

You could also call this:

“ Documents creating a legal claim over company property must be given to the liquidator ”

You must give a document to the liquidator even if having the document gives you a legal claim over the company’s property. This is based on section 261 of the Companies Act.

When you give the document to the liquidator, it doesn’t change or affect your legal claim or its importance. The liquidator must let you see and use the document if you need it to deal with your claim or the property it’s connected to.

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 It might be out of date or be missing some parts.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=DLM321927.

Topics:
Business > Industry rules
Business > Fair trading
Previous

263: Restriction on enforcement of lien over documents, or

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

Next

265: Examination by liquidator, or

“Liquidator can formally question you about a company being closed down”

Part 16 Liquidations
Duties, rights, and powers of liquidators

264Delivery of document creating charge over property

  1. A person is required to deliver a document to a liquidator under section 261 even though possession of the document creates a charge over property of a company.

  2. Production of the document to the liquidator does not prejudice the existence or priority of the charge, but the liquidator must make the document available to the person entitled to it for the purpose of dealing with or realising the charge or the secured property.