Corporate updates

Shareholders’ agreements – a key lesson about planning for the future
21 Aug 20

The Court of Appeal has recently released a decision that relates to the actions of a minority shareholder in the context of a business sale.The case highlights the importance of having a well thought-out shareholders' agreement that anticipates the likely needs of shareholders, both now, ...

COVID-19 Exemption Relief for Capital Raising
9 Apr 20

Takeovers Panel announces temporary class exemptions to assist Code companies to raise capital On 10 April 2020 a suite of temporary class exemptions granted by the Takeovers Panel will come into effect. The exemptions are set out in the Takeovers Code (Facilitation of Capital Raising ...

COVID-19: Changes to the Companies Act 1993 and insolvency relief
6 Apr 20

The Government has announced that it will be introducing legislation to make changes to the Companies Act to help businesses facing insolvency due to COVID-19 to remain viable. We are broadly supportive of these changes which are a pragmatic response to the crisis and follow ...

Takeovers update
14 Jan 20

Update to definition of "code company" narrows application of Takeovers Code The Regulatory Systems (Economic Development) Amendment Act (No 2) 2018 came into force on 13 January 2020.  Broadly, the Act makes discrete amendments to economic development legislation for the purpose of improving regulatory systems ...

Capital Raising for Irrigation – Financial Markets Conduct Act 2013
18 Mar 16

Most directors will be familiar with the requirement to issue a prospectus under the old Securities Act 1978 ("Old Act") when an "offer to the public" is made. However, the old regime was recently replaced with the repealing of the Securities Act 1978 in favour ...

Unfair Contract Terms Update – Time to Review Your Contracts
15 Apr 15

The final consumer law reform 2013 changes have just been implemented. On March 17 the unfair contract term regime comes into force, prohibiting unfair terms in standard form consumer contracts between businesses and consumers. Consumers who consider a term in a standard form contract is ...

Supreme Court Clarifies Position for Creditors and Liquidators
20 Feb 15

In overturning the Court of Appeal in the Fences and Kerbs case[1] the Supreme Court has issued an important decision which affects both liquidators and anyone who supplies goods and services on credit terms. The decision relates to voidable transaction claims brought by liquidators of ...

The New .NZ Domain Names – Protecting Your Brand
16 Oct 14

As of 30 September 2014 you can now register shorter, simpler web addresses ending with just .nz instead of .co.nz, .org.nz, .net.nz and so on. Most people who already have an existing New Zealand domain name will be able to take advantage of a six-month ...

MBIE Releases 2014 Regional Economic Activity Report
11 Jun 14

On 5 June the Ministry of Business, Innovation and Employment released the Regional Economic Activity Report for 2014. The annual report provides data that allows the Ministry to compare regional performance, and gain a better understanding of the roles that the 16 regions play in ...

Health and Safety Reform Bill Introduced
13 Mar 14

The Government has recently introduced the Health and Safety Reform Bill as part of a suite of major health and safety reforms which has already seen the establishment of WorkSafe New Zealand. The reforms are an outcome of the Independent Taskforce on Workplace Health and ...

The New Face of Securities Law
11 Mar 14

The Financial Markets Conduct Act 2013 ("FMC") was passed last year. It significantly changes the way securities (including shares, bonds and debt investments) have been offered in New Zealand for the last 35 years. The FMC replaces various pieces of legislation including the Securities Act ...

For more information contact:

Richard Greenaway

richard.greenaway@al.nz