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Companies Act 1993

Voluntary administration - Deed administrator

239ACEA: Requirements for interests statement

You could also call this:

“What deed administrators must disclose about their interests and potential conflicts”

When someone is going to be a deed administrator for a company, they need to write a statement about their interests. This statement is important because it helps make sure the administrator can do their job properly without any conflicts.

In this statement, you need to tell everyone about anything that might make it hard for you to be fair and independent as a deed administrator. This includes any relationships or situations that could be seen as a conflict of interest. You also need to mention anything that would usually stop you from being a deed administrator or a licensed insolvency practitioner.

If there are any conflicts or things that might look like conflicts, you need to explain what they are and how you plan to deal with them. This is to make sure everyone knows you can still do your job properly.

Before you write this statement, you need to do some investigating to make sure you haven’t missed anything important. You can’t just guess or assume things are okay - you need to check carefully.

Finally, you need to write this statement down, put the date on it, and sign it yourself. This shows that you take it seriously and stand by what you’ve written.

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 It might be out of date or be missing some parts.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=LMS411303.

Topics:
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Part 15A Voluntary administration
Deed administrator

239ACEARequirements for interests statement

  1. This section sets out the requirements for the interests statement referred to in section 239ACE(1)(c)(ii).

  2. The interests statement must disclose—

  3. any circumstance, relationship, or other fact that creates, or could reasonably be perceived as creating, a conflict of interest for the insolvency practitioner in relation to the independence of the insolvency practitioner’s role as a deed administrator, including anything that would, but for a court order to the contrary, have disqualified the person—
    1. from being appointed as or acting as a deed administrator (see section 239ACD(2)); or
      1. from being a licensed insolvency practitioner; and
      2. the nature of any actual or perceived conflict of interest created by a circumstance, relationship, or other fact; and
        1. how the insolvency practitioner intends to manage any actual or perceived conflict of interest.

          1. In preparing the interests statement, the insolvency practitioner must make any inquiries that are reasonably necessary for ensuring that the interests statement is complete.

          2. The interests statement must be in writing and be dated and signed by the insolvency practitioner.

          Notes
          • Section 239ACEA: inserted, on , by section 19 of the Insolvency Practitioners Regulation (Amendments) Act 2019 (2019 No 28).