Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Company registration bill passes second reading

Hon Craig Foss

Minister of Commerce
2 July 2013 Media Statement
Company registration bill passes second reading

A Bill to strengthen the companies and limited partnerships registration regime has passed its second reading announced Commerce Minister Craig Foss.

The Companies and Limited Partnerships Amendment Bill will address the misuse of New Zealand’s registration scheme by overseas entities and tightens the criteria for company registration.

The Bill will require each NZ registered company to have an identifiable individual who is the point of contact. This person must be a director of an NZ company, or director of a company in a country where NZ has reciprocal arrangements for the enforcement of criminal sanctions.

“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,” says Mr Foss.

The Bill will also introduce offences against very serious misconduct by directors.

“I’m confident this bill strikes the right balance between holding to account directors who irresponsibly breach their duties and cause serious loss while still allowing for legitimate risk-taking,” says Mr Foss.

Progressing the Bill is part of the government’s Business Growth Agenda to improve regulation and lift confidence in New Zealand’s capital markets.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

PARLIAMENT TODAY:

Midwives On Pay Equity: Historic Bill Of Rights Case For High Court

“We have been left with no choice.” That from Karen Guilliland, the Chief Executive of the New Zealand College of Midwives, as the organisation prepares to file a pay parity discrimination case on the basis of gender under the NZ Bill of Rights Act in the High Court. More>>

ALSO:

Gordon Campbell: On The Children’s Commission Report On CYF

Accusing the overworked and underfunded staff at Child, Youth and Family of a “dump and run culture of neglect” is the kind of luxury that a Children’s Commissioner can afford to indulge in from his own comfy perch in the bureaucracy. More>>

ALSO:

Mt Eden Prison: Serco Inquiry Extended

A two month delay to the Government investigation into prison fight clubs shows the extent of problems within the Serco circus, says Labour’s Corrections spokesperson Kelvin Davis. More>>

ALSO:

Health And Safety: Late Addition Of National Security Provisions A Concern

The New Zealand Law Society has expressed its significant concerns at the last-minute addition to the Health and Safety Reform Bill of provisions for a closed material procedure for court proceedings where national security is involved. More>>

ALSO:

Rugby And Beer: World Cup Alcohol Bill Passes

ACT MP David Seymour’s Sale and Supply of Alcohol (Extended licensing hours during Rugby World Cup) Bill completed its third reading by 99 to 21... More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news