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Residential addresses submission
21 August 2018
The Institute of Directors (IoD) is
hoping that directors’ home addresses will finally be
private.
The IoD has made another submission this month (7 August) to a Ministry of Business, Innovation and Employment discussion document on the future of publishing directors’ residential addresses on the Companies Register.
The IoD has been advocating for this since 2016 and has made another submission on 7 August in response to a Ministry of Business, Innovation & Employment discussion document on the future of publishing directors’ residential addresses on the Companies Register. Currently directors’ home addresses can be accessed online through the Companies Register.
IoD Chief Executive Kirsten Patterson says the IoD strongly advocates that directors of companies and not-for profits should be able to publish a service address rather than their residential address for the purposes of the Companies Act 1993.
“We consider that this will still maintain the integrity and efficiency of the Companies Register, while also addressing privacy and security concerns.”
These concerns include directors and their families being put at risk from customers, staff and other stakeholders visiting their residential addresses. Earlier this year, a leaflet campaign targeted the neighbourhoods of directors of Lyttelton Port.
“Leafleting of directors' residential addresses to the community could be perceived as threatening and demonstrates a need for urgent protections around directors' home addresses. We are also aware of other circumstances where individual directors have been targeted inappropriately at their residential addresses.”
Another concern is that directors and their board communications could be targets for industrial espionage and cybercrime in their homes, which are usually less secure than a company's offices.
“Directors may be involved in sensitive work or projects, and their residential details should be kept confidential.”
In a Director Sentiment Survey last year, IoD found that 79% of directors would prefer to publish a service address rather than a residential address on the Companies Register.
A Stuff poll last year found that 67% of the public supported directors’ home addresses being made private.
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