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New Director requirements in force 28 October 2015

Created: Thursday, 22 October 2015 21:30

This year has seen the implementation of a number of changes to the information companies must provide to the Registrar of Companies and also to the requirements for directors.

All new companies and all companies filing annual returns must now provide details of the dates and places of birth of their directors and their ultimate holding company. If there are changes in the ultimate holding company notice of these changes must be given to the Registrar of Companies within 10 working days of the change. A director's birth information is not made public.

From 1 May 2015 all new companies were required to have at least one director that either lives in New Zealand or lives in Australian and is a director of an Australian company.

On 28th October 2016 this requirement will be extended to existing companies and all companies filing annual returns after this date must indicate whether any director is living in Australia is also a director of a company incorporated in Australia and provide details of that company.

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A Franchisor's Guide to General Security Agreements

Created: Tuesday, 20 October 2015 09:55

A Franchisor's Guide to General Security Agreements (GSA's)

It is becoming increasing common for franchisors to require their franchisees to enter into a General Security Agreement or a GSA as it is more commonly known. This guide aims to assist franchisors to make informed choices about whether or not they should require their franchisees to enter into a GSA and if they do, what priority should their GSA have when compared with a bank's GSA?

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As your life changes so should your Will

Created: Wednesday, 14 October 2015 12:28

We all lead busy lives.  Our circumstances, and those of our family, change.  As our lives change our wills and other personal documents also need changing, or at least reviewing. 

A recent case (Sutton & Ors v Public Trust [2015] NZHC 1844 [6 August 2015]) highlights what can happen when your will has not been updated to meet a change in circumstances.  It also highlights that you need to be sure that what your will says is what you want.  Does the person drafting your will know your personal circumstances.  Do they know you? 

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The Harvey Norman Computer Glitch - the legal issues

Created: Wednesday, 07 October 2015 23:21

The recent computer glitch which resulted in 300 Harvey Norman customers purchasing furniture at incorrect prices would have to be an online retailers worst nightmare.  Reports indicate that on 1 October 2015 between the hours of 1am and 8am Harvey Norman’s website offered furniture at heavily discounted prices.  A 3 piece lounge suite was advertised at $103, a 2 piece lounge suite was offered at $95 and a wooden table and chairs were offered at $159.  Harvey Norman has since apologised for the error and at the date of writing this article Harvey Norman has reportedly so far refused to honor the prices electing instead to offer customers a $100 voucher.

So where do the customer and Harvey Norman stand legally? 

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Your guide to the legal aspects of franchising in New Zealand

Created: Wednesday, 07 October 2015 15:03

NO FRANCHISE SPECIFIC LEGISLATION

Unlike Australia and other countries such as the USA and Canada, there is no legislation in New Zealand dedicated to franchising. From a legal perspective there are no barriers to entry – no compulsory disclosure documents or registration requirements. There are however a number of general legal requirements which have application to franchising and this guide contains a summary of the main ones.

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Environmental Reporting Act Passes

Created: Wednesday, 30 September 2015 12:20

Environment and Statistics Ministers have jointly announced the passing of the Environmental Reporting Act 2015 (the Act).

The Act provides legislative authority for the Ministry for the Environment and Statistics New Zealand to report accurate and objective updates on the state of New Zealand’s environment.  Reports will be released biannually on one of the five domains of air, freshwater, land, marine and atmosphere / climate.  A synthesis report will be released once every three years.

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