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Incorporated Societies Act 2022

Removal from register, amalgamation, liquidation, and other processes - Liquidation - High Court may put society into liquidation

213: Application of Companies Act 1993 where High Court puts society into liquidation

You could also call this:

"What happens when a court closes down a society and some company rules apply"

Illustration for Incorporated Societies Act 2022

When the High Court puts a society into liquidation, you need to follow some rules from the Companies Act 1993. You apply these rules, with some changes, to the application to put the society into liquidation, as if it were an application under section 241(2)(c) of that Act. You also apply these rules to the liquidation, as if the liquidator had been appointed under section 241(2)(c) of that Act. When you are reading Part 16 of the Companies Act 1993, you replace some words with new ones. You replace 'the board of directors of the company' with 'the committee of the society'. You replace 'a shareholder of the company' with 'a member of the society' and 'the Registrar' with 'the Registrar' as defined in section 5. This rule is part of the rest of the Incorporated Societies Act 2022, especially subpart 5, and the regulations that go with it.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS101108.

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212: Application to court to appoint liquidator, or

"Asking the court to close down a society by appointing a liquidator"

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214: Application of subpart, or

"Rules for societies that are removed or closing down"

Part 5Removal from register, amalgamation, liquidation, and other processes
Liquidation: High Court may put society into liquidation

213Application of Companies Act 1993 where High Court puts society into liquidation

  1. Part 16 of the Companies Act 1993 applies, with all necessary modifications,—

  2. to an application under section 212 as if the application were an application under section 241(2)(c) of that Act; and
    1. to the liquidation as if the liquidator had been appointed under section 241(2)(c) of that Act.

      1. For the purposes of this section, a reference in Part 16 of the Companies Act 1993 to—

      2. the board of directors of the company must be treated as a reference to the committee of the society:
        1. a shareholder of the company must be treated as a reference to a member of the society:
          1. the Registrar must be treated as a reference to the Registrar as defined in section 5.

            1. This section is subject to the rest of this Act (see, in particular, subpart 5) and to the regulations.