As a result of changes introduced by the Companies Amendment Act 2014 (which gives the Registrar of Companies extra powers) additional information will be required from 1 May 2015 when incorporating a New Zealand company and from 1 July 2015 when filing annual returns.
The main changes to New Zealand incorporated companies are as follows:
- There needs to be a Director who either lives in New Zealand or Australia, and if they live in Australia, that individual must be a director of a company incorporated in Australia (from 29 October 2015);
- Date and place of birth of each Director is to be provided to the Registrar however the date of birth information will not be publically viewable;
- Companies must publicly disclose their ultimate holding company (if they have one).
The Registrar will also have increased enforcement powers to the extent that if required the ability to de-register companies and prohibit persons from managing companies.
For those persons who are a Director of a Company be prepared to provide your date and place of birth to the presenter who is filing the Company annual return. Please note that as from 1 July 2015, if this information is not provided at the time of filing, then an annual return will not be able to be filed and of course you will be aware that failure to file an annual return may result in the Registrar removing a company from the register.
We at Farry and Co. administer numerous Companies on behalf of our clients and attend on filing of Company annual returns regularly. We also deal with all aspects in relation to Company law and should you find yourself requiring legal assistance on any Company related matter please either contact the lawyer in our firm who normally advises you, or alternatively contact:
Karen Eason
keason@farry.co.nz
03 477 8870 or 09 379 0055
The information contained in this publication is intended as a guide only. It does not constitute legal advice and should not be relied upon as such. Professional advice should be sought before applying any of the information to particular circumstances. While every reasonable care has been taken in the preparation of this publication, Farry and Co. does not accept liability for any errors it may contain.