Plain language law

New Zealand law explained for everyone

Companies Act 1993

Voluntary administration - Preliminary

239EA: Voluntary administration of licensed insurers

You could also call this:

“Special rules for insurance companies in financial trouble”

If you are a licensed insurer (a company that is allowed to sell insurance), this part of the law still applies to you. However, it works a bit differently. You also need to follow the rules in subpart 3 of Part 4 of the Insurance (Prudential Supervision) Act 2010. This means there are some special rules for insurance companies that are having financial troubles.

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 It might be out of date or be missing some parts.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=DLM3522910.

Topics:
Business > Industry rules
Business > Fair trading
Previous

239E: When administration ends, or

“Ways a company's voluntary administration can end”

Next

239F: Who may be appointed as administrator, or

“Requirements and restrictions for becoming a company administrator”

Part 15A Voluntary administration
Preliminary

239EAVoluntary administration of licensed insurers

  1. If a company is a licensed insurer, this Part applies in respect of the insurer subject to subpart 3 of Part 4 of the Insurance (Prudential Supervision) Act 2010.

Notes
  • Section 239EA: inserted, on , by section 241(2) of the Insurance (Prudential Supervision) Act 2010 (2010 No 111).