Section 329 — Companies Act 1993: Court may restore company to New Zealand register

329 Court may restore company to New Zealand register (1) The Court may, on the application of a person referred to in subsection (2) of this section, order that a company that has been removed from the New Zealand register be restored to the register if it is satisfied that,— (a) At the time the company was removed from the register,— (i) The company was still carrying on business or other reason existed for the company to continue in existence; or (ii) The company was a party to legal proceedings; or (iii) The company was in receivership, or liquidation, or both; or (iv) The applicant was a creditor, or a shareholder, or a person who had an undischarged claim against the company; or (v) The applicant believed that a right of action existed, or intended to pursue a right of action, on behalf of the company under Part 9 of this Act; or (b) For any other reason it is just and equitable to restore the company to the New Zealand register. (2) The following persons may make an application under subsection (1) of this section: (a) Any person who, at the time the company was removed from the New Zealand register,— (i) Was a shareholder or director of the company; or (ii) Was a creditor of the company; or (iii) Was a party to any legal proceedings against the company; or (iv) Had an undischarged claim against the company; or (v) Was the liquidator, or a receiver of the property of, the company: (b) The Registrar: (c) With the leave of the Court, any other person. (3) Before the Court makes an order restoring a company to the New Zealand register under this section, it may require any provisions of this Act or any regulations made under this Act, being provisions with which the company had failed to comply before it was removed from the register, to be complied with. (4) The Court may give such directions or make such orders as may be necessary or desirable for the purpose of placing the company and any other persons as nearly as possible in the same position as if the company had not been removed from the New Zealand register.