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Sale and Supply of Alcohol Act 2012

Licensing trusts, community trusts, and other matters - Licensing trusts - Conduct of business

336: Power to compromise with creditors

You could also call this:

“Making a deal with people you owe money to, like a company would”

If you are a licensing trust, you have the power to make a deal with the people you owe money to. You can do this as if you were a company set up under the Companies Act 1993. The rules in the Companies Act 1993 apply to this deal, with some changes if needed.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3339875.

Topics:
Money and consumer rights > Banking and loans Business > Industry rules
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335: Annual meeting of electors, or

"A licensing trust must hold a public meeting each year to tell you about their work and money."

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337: Variation of establishment of licensing trust, or

"Changing the rules of a group that decides how alcohol is sold in an area"

Part 3 Licensing trusts, community trusts, and other matters
Licensing trusts: Conduct of business

336Power to compromise with creditors

  1. A licensing trust has the power to enter into a compromise or arrangement with its creditors as if it were a company incorporated under the Companies Act 1993, and that Act applies, with any necessary modifications, to that compromise or arrangement.

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