Receiverships Act 1993

15: Power to make calls on shares

You could also call this:

"A receiver can ask shareholders for unpaid money for their shares when a company is in trouble."

When a company is in trouble, a receiver can take control of it. The receiver has the same power as the company's directors to ask shareholders for money they still owe. This is called making a call on shares. The receiver can also charge interest on the money owed and make sure it gets paid.

If a shareholder hasn't paid the full price for their shares, the receiver can still ask for the rest of the money. This includes any extra amount the shareholder was supposed to pay when they bought the shares, which is called a premium.

When the receiver asks a shareholder for money, it's like the company's directors are asking. The shareholder has to pay the company, and the receiver is just helping to make sure that happens.

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This page was last updated on 18 July 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM327721.

Topics:

Money and consumer rights > Banking and loansBusiness > Industry rules

14: Powers of receivers, or

"What a receiver is allowed to do with someone else's property"

16: Validity of acts of receivers, or

"What a receiver does is usually okay, even if they weren't appointed correctly"

15Power to make calls on shares

A receiver has the same powers as the directors of a grantor that is a company have or, if the grantor is being wound up or in liquidation, as the directors would have if it was not being wound up or in liquidation, to make calls on the members or shareholders of the company in respect of uncalled capital that is charged under the deed or agreement by or under which the receiver was appointed and to charge interest on, and enforce payment of, calls.
For the purposes of subsection (1), the expression uncalled capital includes the amount of any unpaid premium payable in respect of the issue of shares.
The making of a call or the exercise of a power under subsection (1) is, as between the members or shareholders of the company affected and the company, deemed to be a proper call or power made or exercised by the directors of the company.