Plain language law

New Zealand law explained for everyone

Companies Act 1993

Miscellaneous

399: Companies Act 1955 continues to apply for limited purposes

You could also call this:

“Old company law still applies in some cases, like for businesses closing before July 1997”

The Companies Act 1955 still applies in some situations, even though it has been replaced by newer laws. If a company started winding up or liquidating before 1 July 1997, the old Act still applies to that process. Some parts of the Companies Amendment Act 1993 also continue to apply to certain companies.

If a company was in the process of being removed from the register or had already been removed under the old Act, those rules still apply. These rules stay in effect even though the Companies Act 1955 has been officially cancelled.

However, one specific part of the old Act (section 290) doesn’t apply anymore. When reading this section and section 400, the words “company” and “register” mean the same thing they did in the old Act before it was cancelled.

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 It might be out of date or be missing some parts.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=DLM5800112.

Topics:
Business > Industry rules
Business > Starting a business
Previous

398: Act subject to application of Cape Town Convention and Aircraft Protocol, or

“Airplane rules can override parts of the Companies Act”

Next

400: Companies restored to register or that have ceased to be in liquidation may be reregistered, or

“Companies brought back or finished liquidating may need to re-register”

Part 22 Miscellaneous

399Companies Act 1955 continues to apply for limited purposes

  1. The Companies Act 1955 continues to apply in respect of every winding up or liquidation of a company commenced before the close of 30 June 1997.

  2. Section 42(3) to (7) of the Companies Amendment Act 1993 continue to apply in respect of every company to which those subsections applied immediately before the repeal of the Companies Act 1955.

  3. Part 6A of the Companies Act 1955 continues to apply in respect of every company that, immediately before the repeal of that Act, was subject to any action under that Part of that Act to remove the company from the register, or had been removed from the register.

  4. Subsections (1) to (3) apply despite the repeal of the Companies Act 1955 by the Companies Act Repeal Act 1993.

  5. Nothing in subsection (1) applies in relation to section 290 of the Companies Act 1955.

  6. In this section and section 400, company and register have the same meanings as those terms had under the Companies Act 1955 immediately before its repeal.

Compare
Notes
  • Section 399: inserted, on , by section 11 of the Companies Amendment Act 2013 (2013 No 111).