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Companies Act 1993

Voluntary administration - Resignation and removal of administrator

239TA: Provision of information and assistance to replacement administrator

You could also call this:

“Helping a new administrator take over”

If a new administrator takes over, the previous administrator must help them. You need to give the new administrator all the information they need to do their job properly. This includes things like the company’s records and documents, information about the company’s property, details about any claims, and records from when you were in charge.

You also need to help the new administrator in other ways if they ask for it. This could mean answering their questions or explaining things to them.

If you don’t give the new administrator the information or help they need, you’re breaking the law. You could be found guilty of an offence and punished as set out in section 373(2).

Remember, you only have to do these things if it’s practical for you to do so.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS411118.

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Part 15A Voluntary administration
Resignation and removal of administrator

239TAProvision of information and assistance to replacement administrator

  1. This section applies if a replacement administrator is appointed.

  2. The previous administrator must, where practicable, provide to the replacement administrator the information that the previous administrator has in their possession or under their control and that the replacement administrator reasonably requires to carry out the functions and duties of administrator.

  3. The information referred to in subsection (2) includes—

  4. the records and other documents of the company:
    1. any information necessary to provide the replacement administrator with control over the property of the company:
      1. any information relating to claims:
        1. accounting records and other documents of the administration.

          1. The previous administrator must, where practicable, provide to the replacement administrator any assistance that the replacement administrator reasonably requires to carry out the functions and duties of administrator.

          2. A person who fails to comply with subsection (2) or (4) commits an offence and is liable on conviction to the penalty set out in section 373(2).

          Notes
          • Section 239TA: inserted, on , by section 10 of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).