Published 3 July 2013
The Companies & Limited Partnerships Amendment Bill, intended to strengthen the registration regime, has passed its second reading in Parliament.
It’s intended to address the misuse of New Zealand’s registration scheme by overseas entities and tightens the criteria for company registration by requiring every NZ-registered company to have an identifiable individual as the point of contact. This person must be a director of a New Zealand company, or of a company in a country where New Zealand has reciprocal arrangements for the enforcement of criminal sanctions.
Commerce Minister Craig Foss added: “The bill will also give new powers to the Registrar of Companies to investigate non-compliance with the Companies Act. Companies will be removed from the register if they provide inaccurate information, or persistently fail to comply with the act.”
Attribution: Ministerial release.