After a long delay, changes to company law and the law governing limited partnerships, which, among other things, will require all New Zealand registered companies and limited partnerships to have a director or general partner who lives in New Zealand or is a director of a company in a prescribed enforcement country and create new criminal offences for directors have been passed by Parliament.
The Companies Amendment Act (No 4) 2014 and Limited Partnerships Amendment Act (No 2) 2014 are awaiting Royal assent.This document provides a summary of the changes based on the current draft legislation.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
