A share register is a critically important company document. Under section 87 of the Companies Act 1993 (Act), every New Zealand company must maintain a share register. There are no exceptions. Failure to maintain a share register is an offence by the company and every director. On conviction, the offence carries a potential fine not… Continue reading The Importance of Company Share Registers
Commercial & Corporate
Company Annual Returns – Requirements and Consequences of Non-Compliance
What is an Annual Return? Each year, the board of every New Zealand company must deliver a document called an annual return to the Registrar of Companies (see Companies Act 1993, section 214). The annual return must contain prescribed information about the company and its directors and shareholders. It must be delivered in the month… Continue reading Company Annual Returns – Requirements and Consequences of Non-Compliance
Guaranteeing the Obligations of a Third Party
When a lender agrees to advance funds to a borrower, a landlord agrees to let commercial premises to a tenant, or a supplier agrees to provide goods on credit, the lender/landlord/supplier (the creditor) might ask for the obligations under the relevant contract to be guaranteed by a third party (the guarantor) as a condition of… Continue reading Guaranteeing the Obligations of a Third Party