Australasian Secured Deposits Limited (In Liquidation) and Another v Automobile Association (Canterbury) Incorporated - [1972] NZLR 438

Company law — Companies under the Companies Act — Debentures and debenture stock — Construction of instruments of security - "Debenture" defined — Money deposited with company in exchange for note acknowledging sale of Government or local body stock together with certificates and executed transfer — Right of depositor to repayment at 24 hours' call and undertaking to resell — Documents together constituted debenture — Companies Act 1955, ss 48A, 102.

Company law — Registration of mortgages and charges — Copy of documents not registered — Transaction void against liquidator of company — Companies Act 1955, ss 102, 103.