Section 306 — Companies Act 1993: Ascertainment of amount of claim

306 Ascertainment of amount of claim (1) The amount of a claim must be ascertained as at the date and time of commencement of the liquidation. (2) The amount of a claim based on a debt or liability denominated in a currency other than New Zealand currency must be converted into New Zealand currency at the rate of exchange on the date of commencement of the liquidation, or, if there is more than one rate of exchange on that date, at the average of those rates. Subsection (1) was amended, as from 26 April 1999, by section 12 Companies Amendment Act 1999 (1999 No 19) by inserting, after the word “ date ” , the words “ and time ” .