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Incorporated Societies Act 2022

Removal from register, amalgamation, liquidation, and other processes - Other matters relating to removal or liquidation of society

223: Disposal of surplus assets ceases if society is restored to register

You could also call this:

"What happens to surplus assets if a removed society is restored to the register"

Illustration for Incorporated Societies Act 2022

If you are part of a society that was removed from the register but is now restored, section 216 no longer applies. You do not get back any surplus assets that were already disposed of properly before the society was restored to the register. You can look at section 190(3) for more information about this, and also check section 216 for what applied before the society was restored.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS538780.

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222: Direction to defer disposal of surplus assets, or

"Waiting before getting rid of surplus assets when a society is removed"

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Part 5Removal from register, amalgamation, liquidation, and other processes
Other matters relating to removal or liquidation of society

223Disposal of surplus assets ceases if society is restored to register

  1. If a society that has been removed from the register is restored to the register, section 216 ceases to apply.

  2. Nothing in this section requires the return to the society of any surplus assets that have already been properly disposed of under this subpart before the society is restored to the register (see also section 190(3)).