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New Zealand (574) > Civil, commercial and family law (5)

Name: Companies Act 1993 (1993 No 105).
Country: New Zealand
Subject(s): Civil, commercial and family law
Type of legislation: Law, Act
Adopted on: 1993-09-28
Entry into force:
ISN: NZL-1993-L-91130
Bibliography: Statutes of New Zealand Statutes of New Zealand Parliamentary Counsel Office, Government of New Zealand PDF of Act as at 17 December 2016 PDF of Act as at 17 December 2016 (consulted on 2012-09-20)
Abstract/Citation: An Act to reform the law relating to companies, and, in particular:

(a) to reaffirm the value of the company as a means of achieving economic and social benefits through the aggregation of capital for productive purposes, the spreading of economic risk, and the taking of business risks; and

(b) to provide basic and adaptable requirements for the incorporation, organisation, and operation of companies; and

(c) to define the relationships between companies and their directors, shareholders, and creditors; and

(d) to encourage efficient and responsible management of companies by allowing directors a wide discretion in matters of business judgment while at the same time providing protection for shareholders and creditors against the abuse of management power; and

(e) to provide straightforward and fair procedures for realising and distributing the assets of insolvent companies

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