Plain language law

New Zealand law explained for everyone

Companies Act 1993

Voluntary administration - Interface with liquidation

239ABYA: Provision of information and assistance to liquidator

You could also call this:

“Giving information and help to the liquidator after being an administrator”

If someone was acting as an administrator for a company before a liquidator was appointed, they have some important responsibilities. You need to give the liquidator 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 the administrator. You also need to help the liquidator in any other way they might need.

It’s important that you do this whenever it’s possible. If you don’t provide the information or help when you’re supposed to, you could be breaking the law. If you’re found guilty of not doing this, you could face a penalty. The specific penalty is described in section 373(2) of the Companies Act.

Remember, your job is to make things easier for the liquidator so they can take over and do what they need to do for the company.

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 It might be out of date or be missing some parts.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=LMS411256.

Topics:
Business > Industry rules
Business > Fair trading
Previous

239ABY: Former administrator is default liquidator, or

“The company's former administrator usually becomes the liquidator if no one else is chosen or available”

Next

239ABZ: Person in control of company must lodge revised report with Registrar, or

“Update and submit reports when a company in administration becomes liquidated”

Part 15A Voluntary administration
Interface with liquidation

239ABYAProvision of information and assistance to liquidator

  1. This section applies if a person was acting as an administrator of a company before the appointment of a liquidator to the company.

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

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

          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 239ABYA: inserted, on , by section 17 of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).