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Are you a director of a company? Are you thinking about starting up a company with overseas directors or shareholders?

By Claire Barron - 8 Jul 2014

There have been recent changes to company legislation (through the Companies Amendment Act (No 4) 2014) that you need to be aware of.

  • All New Zealand companies must have at least one director resident in New Zealand or in an "enforcement country". This has not been defined yet but is likely to include USA, UK and Australia.
  • Directors must now provide their full name, residential address and date and place of birth. 
  • If a company's shares are held by another company, the holding company's name, country of registration, registration number and registered office address must be disclosed.
  • Directors can be held criminally liable if they:
    • act in bad faith towards the company
    • allow an insolvent company to incur debt.

To find out how to comply with these changes email Claire Barron.

Contacts

Claire Barron

Melissa Higham

 

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