The Companies Act 1993 regulates companies in New Zealand, from their incorporation through to their winding up. A company is different from other business structures, as it is a separate legal entity and has limited liability.

As a company director, it is important to understand your responsibilities under the Companies Act. These include:

  • always acting in good faith;
  • ensuring you exercise care and diligence;
  • avoiding conflicts of interest; and
  • not trading while insolvent.

If your company has shareholders, then you require legal documents to govern this relationship, such as a shareholders agreement.

​A shareholders agreement outlines the relationship between your company and its shareholders. It outlines shareholder and directors’​ rights​ and​ responsibilities, including:

  • meeting requirements;
  • share issue requirements;
  • share sale requirements;
  • share vesting;
  • dispute resolution; and 
  • company sale.

LegalVision’s lawyers have extensive experience in assisting companies with meeting their corporate governance obligations. They have written a series of articles to help you implement and manage your ongoing responsibilities and risk.

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