The Court of Appeal in Madsen-Ries v Petera [2016] NZCA 103 held that creditors do not need to be considered when deciding whether a director/s’ remuneration was fair, at a time when the company was in financial peril. Section 161 of the Companies Act 1993 (Act) sets out the procedure for the authorisation of directors’ [...]
As a means to regulate governance of New Zealand registered companies, the Companies Act 1993 (Act) was amended to provide that New Zealand incorporated companies must have at least one director who: lives in New Zealand; or lives in Australia and is also a director of an Australian company. The Act does not provide any [...]
The Companies Amendment Act 2014 introduced a number of changes to the Companies Act 1993. One of these changes is that all New Zealand incorporated companies must have at least one director that either lives in New Zealand, or lives in an “enforcement country” and is also a director of a company incorporated in that [...]