New Zealand Legislation: Acts
Acts are laws made by Parliament
Reprint as at 1 October 2011
| Public Act | 1989 No 11 |
| Date of assent | 22 March 1989 |
| Commencement | 22 March 1989 |
Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this reprint.
A general outline of these changes is set out in the notes at the end of this reprint, together with other explanatory material about this reprint.
This Act is administered by the Ministry of Economic Development.
6 Meaning of operating fraudulently or recklessly
7 No obligation on Registrar or FMA to supervise
8 Consultation with Reserve Bank
Part 1
Supply of information by, and investigation of affairs of, corporations
9 Registrar of Companies may require corporation or associated person to supply information
10 Requirement that information be audited
11 Disclosure of information to Registrar by statutory supervisor of retirement village
12 Trustee or statutory supervisor to inform corporation of intention to disclose [Repealed]
13 Disclosure of information to Registrar by auditors
14 Registrar to inform corporation of intention to request information from auditor
15 Protection of trustees, statutory supervisors, and auditors
Powers to obtain information and documents
17 Powers to obtain information and documents
18 Requirements on entering and searching premises
19 Investigation of affairs of corporation
20 Offence to hinder investigation, etc
21 Powers of person appointed to carry out investigation
22 Requirements to be complied with by person carrying out investigation
23 Confidentiality of information
24 Procedure for obtaining warrants
27 Effect of final decision that exercise of powers under section 17 unlawful
28 Effect of final decision that exercise of powers under sections 19 to 21 unlawful
29 Saving for privileged communications
30 Registrar or FMA may declare corporation to be at risk
31 Obligation to consult with Registrar or FMA
32 Power of Registrar or FMA to give advice and assistance
33 Power of Registrar or FMA to give directions to corporation declared to be at risk
34 Period for which directions may apply
35 Offence to contravene directions, etc
36 Offence to disclose that corporation declared to be at risk, etc
37 Miscellaneous provisions relating to notices
38 Statutory management of corporations and associated persons
39 Grounds on which corporation can be declared to be subject to statutory management
40 Grounds on which associated person can be declared to be subject to statutory management
41 Considerations affecting exercise of powers by statutory manager
43 Prohibition against removal of assets
44 Statutory manager may suspend payment of money owing
45 Management of corporation to vest in statutory manager
46 Powers of statutory manager
47 Statutory manager empowered to carry on business of corporation
48 Statutory manager empowered to pay creditors and compromise claims
49 Termination of contract of agency or service
50 Power of statutory manager to sell business undertaking of corporation
51 Sale of property or assets subject to a security
52 Liquidation of corporations
53 Provisions applying where liabilities included in sale or other disposition of business undertaking of corporation
54 Power to trace property improperly disposed of
55 Application of certain provisions of Companies Act 1993
56 Application of this Part to joint statutory managers, associated persons, and subsidiaries
57 Termination of appointment of statutory manager
58 Statutory manager may apply to court for directions
59 Court may confer additional powers on statutory manager
59A Special considerations if insurer under Part 10 of Accident Compensation Act 2001 is subject to statutory management
61 Prior winding up, liquidation, or receivership to cease
62 Termination of statutory management
64 Corporation not entitled to be consulted about exercise of powers
65 Expenses of statutory management
66 Advances to statutory managers and members of advisory committees
67 Duty to deliver books and property to statutory manager
68 Offence to destroy, alter, or conceal records
71A Application of reporting requirements in other Acts
73 Repeal of Companies Special Investigations Act 1958
75 Procedure for applying this Act to company to which Companies Special Investigations Act 1958 applies
76 Act subject to application of Cape Town Convention and Aircraft Protocol
An Act to enable the Registrar of Companies and the Financial Markets Authority to determine whether corporations are at risk, to enable action to be taken in relation to such corporations in appropriate cases, and to repeal the Companies Special Investigations Act 1958
Title: amended, on 1 May 2011, by section 82 of the Financial Markets Authority Act 2011 (2011 No 5).
