Statute
Section Sch7-4 — Companies Act 1993: Subrogation of persons if payment has been made
Text of the provision Official document
4 Subrogation of persons if payment has been made If a payment has been made to a person ( A ) on account of any preferential claim set out in this schedule out of money advanced by another person ( B ) for that purpose, then B has, in a liquidation, the same right of priority in respect of the money so advanced as A would have if the payment had not been made.
Official source: legislation.govt.nz
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