Automobile Association (Canterbury) Incorporated v Australasian Secured Deposits Limited (In Liquidation) and Another - [1973] 1 NZLR 417

Company law — Companies under the Companies Act — Registration of mortgages and charges — Money deposited with company in exchange for note acknowledging sale of Government or Local Body stock together with certificates and transfers thereof — Right of depositor to repayment at 24 hours call and undertaking to resell stock — Documents together constituting a distinct charge over a distinct asset — Not an "issue" of debentures within s 102(2)(a) of the Companies Act 1955 and not requiring registration — Companies Act 1955, ss 102, 103.

Statutes — Criminal and penal statutes — Ambiguity in penal statutes — Construction not to interfere with rights under common law.