If you are a director of a company in New Zealand, you must comply with certain specific legal duties. You must comply with these duties regardless of whether you are:<\/p>\n\n\n\n
This article explains some of your duties as a director of a company in New Zealand.<\/p>\n\n\n\n
The Companies Act <\/em>1993<\/a> (Companies Act<\/strong>) sets out the director\u2019s duties that apply. As a director of a company in New Zealand, you must as a minimum:<\/p>\n\n\n\n When you exercise your powers or perform your duties as a director of a company in New Zealand, you must ensure that you act in:<\/p>\n\n\n\n This means that, for example, you must avoid acts that promote your own interests at the expense of the company.<\/p>\n<\/div>\n\n\n\n Acting in the best interests of the company is a subjective test and enables you to exercise discretion to use your business judgment (rather than consider what an ordinary or reasonable person might do in a similar situation).<\/p>\n\n\n\n This duty has certain limited exceptions. For example: <\/p>\n\n\n\n\n
Acting in Good Faith<\/h2>\n\n\n\n
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