Section 239R — Companies Act 1993: Removal of administrator
Text of the provision Official document
239R Removal of administrator (1) The administrator may be removed— (a) by the Court, on the application of a creditor, the liquidator (if the company is in liquidation), or the Registrar; or (b) by a resolution of creditors passed at the first creditors' meeting; or (c) by a resolution of creditors at a meeting convened under section 239T(1) to consider whether to remove a replacement administrator. (2) The creditors may not remove the administrator by a resolution passed at a creditors' meeting unless— (a) the same resolution also appoints as administrator another person who is not disqualified; and (b) the person named in the resolution as the new administrator has, before the resolution is considered, tabled at the meeting— (i) a signed, written consent to act as administrator; and (ii) an interests statement. Compare: Corporations Act 2001 (Australia) ss 436E(4), 449B Section 239R: inserted, on 1 November 2007, by section 6 of the Companies Amendment Act 2006 (2006 No 56).
Official source: legislation.govt.nz
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