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New Zealand (510) > Civil, commercial and family law (7)

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 1/1/2019 PDF of Act as at 1/1/2019 (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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