Notice of intention to remove company from the register pursuant to section 320 of the companies act 1993. New zealand companies need to lift their game on corporate. Companies act 1955 continues to apply for limited purposes. In contrast, the companies act 1993 is based on a north american model. New zealands fiscal responsibility act graham scott r m he fiscal responsibility act passed by the new zealand parliament in june 1994 makes the government and the treasury responsible for reporting to jl parliament specified information about fiscal strategy, the current economic. Changes authorised by subpart 2 of part 2 of the legislation act 2012 have been made in this official reprint. Research the key issues surrounding technology law in new zealand new zealand. Companies act 1993 amendment act 1994 1994 no 6 public finance act 1989 1989 no 44. Company law in new zealand by peter watts, neil campbell, christopher hare. The government will be introducing legislation to make changes to the companies act to help businesses facing insolvency due to covid19 to remain viable, with. Download companies act 1993 new zealand file in pdf format.
I, peter bryant highton, senior solicitor, acting under delegated authority from the secretary to the treasury, hereby give notice that on 15 august 2019 i first became aware that the crown was vested under section 3241 of the companies act 1993 by virtue of the removal of flight experience limited from the register of companies on 22 december 2011 with the rights to funds held by anderson. The companies act does not distinguish between public and private companies. The new zealand companies act 1993 summarises the rules and regulations in regards to new zealand company law. References to companies incorporated under companies act 1955. April 1987 the new zealand government corporatised the nzed and formed a stateowned enterprise the electricity corporation of new zealand ecnz. Legislation companies act 1993 companies act 1955 although this act has been repealed, much case law relevant to deciding matters under the 1993 act was decided under the 1955 act. Azipac north madura nz limited in liquidation 2020. Reform and restatement june 1989 and, in part, no 8 in a personal property securities act for new zealand april 1989. Once admitted to the official list, the company will also be subject to the requirements of the asx listing rules. New zealand company the company is incorporated in new zealand. The paper also takes a quick survey of new zealand data mining companies and analysis of their websites to see what sort of ethical issues are. There is nothing in the companies act which restricts applications to nonlisted companies.
Directors, the definition of a director, companies act, keeping accounting records, reporting responsibilities of directors, new zealand slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The brevity of the statutory provisions is both a strength and weakness of the regime. The most common type of company is a company limited by shares. Statutory demand in the matter of section 289 ofthe companies act 1993 to. Air new zealands primary business is the transportation of passengers and cargo on scheduled airline services. This is called personal information in new zealand but is sometimes referred to as personal identifiable information pii. You have been charged with a category 2 or 3 offence and a high court has made an order that you be tried in the high court. Data can contain values that identify a specific individual.
Form 9 consent and certificate of director companies register. New zealand register means the register of companies in corporated in new zealand kept pursuant to section. Uema regulates the sending of commercial electronic messages which have a new zealand link, which is where. You will find below the key extracts from the new zealand companies act along with the full act. The companies act provides for the incorporation of a limited or unlimited liability company and regulates the management, operation and liquidation of companies incorporated in new zealand. The duties of directors under the companies act 1993. Statutory base the parent company, air new zealand limited, is a profitoriented entity, domiciled in new zealand, registered under the companies act 1993 and listed on the new zealand and australian stock exchanges. Ross r i ihe companies act 1993, which came into effect on 1 july 1994, provides for greater flexibility for corporate operations and for corporate restructur j l ing in new zealand. Be it enacted by the parliament of new zealand as follows. Companies amendment act 1998 1998 no 31 companies act 1993 amendment act 1997 1997 no 27 companies act 1993 amendment act 1996 1996 no 115 department of justice restructuring act 1995 1995 no 39. The new zealand companies act 1993 arose out of a lengthy law reform process given its conceptual grunt by the work of the law commission. Citi strives to create the best outcomes for our clients and customers with financial solutions that are simple, creative and responsible.
Note 4 at the end of this reprint provides a list of the. The compromise regime is set out in part xiv of the companies act 1993 the act in 8 sections. The latest on the most extensive range of legal journals in the australian market, along with articles, news, submission requirements and more. New zealand health system reforms new zealand parliament. Introduction if a company suffers a wrong then prima facie it is the company that should seek redress for that wrong.
Companies restored to register or that have ceased to be in liquidation may be reregistered. April 1993 electricity market company later called mco established as a joint venture by new zealand electricity industry players to act as a focal point for the design of a wholesale. Companies in new zealand are governed by the companies act. Section 171 provides the general provision that transactions cannot be invalidated merely because of a lack of capacity. Section 8 of the companies act 1993 nz provides a defence to an accusation that a company director. Reprint asat1january2014 companiesact1993 publicact 1993no105 dateofassent 28september1993 commencement seesection12 contents page title 24 1 shorttitleandcommencement 24. Companies act 1993 amendment act no 2 1994 1994 no 82.
Committees, officers, duties and arrangements for running societies. As such it is subject to new zealand law including the new zealand companies act 1993 companies act. For 150 years, new zealand company law was derived mainly from english law. New zealands companies legislation is based on the canadian model, so canadian case law is relevant. Companies act 1993 no 105 as at january 2020, public. The new code is set to act as a catalyst for better business reporting, by raising the bar on what is expected.
Duties of directors under the companies act 1993 in this and future editions of the legal lounge i will outline some of the statutory duties and obligations that apply to directors and officers of corporate entities under a variety of statutes, and. Farrar and russells company law in new zealand was published in 1985 and related to the companies act 1955. Company names a new zealand company or an overseas company intending to carry on business in new zealand cannot be registered under a name unless that name has been approved and reserved by the registrar sections 20 and 3331 companies act 1993. Part xiv of the companies act 1993 compromises with. In the high court of new zealand auckland registry civ20114047225 civ20124040307 2012 nzhc 1441 under parts 18 and 19 of the high court rules in the matter of sections 251 and 292 of the companies act 1993 between jennings roadfreight limited in liquidation plaintiff and boris van delden and roy horrocks as liquidators of. The statutory framework section 129 of the companies act 1993 the act was proposed by the new zealand law commission in 1989 as both a regulatory and governance strategy. The continuing work of the securities commission in the fields of takeovers, insider trading, and company accounts will form part of this overall inquiry. The passing of the companies act 1993 the 1993 act with its detailed provisions. Registered members get a chance to interact at forum, ask query, comment etc. The financial reporting act 1993 defines a large company as one that satisfied at least one of two criteria.