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The Flying Burrito Brothers, a sunset clause and a guarantee

Created: Wednesday, 24 February 2016 21:58

Sunset clauses and personal guarantees are commonly found in Agreements to Lease.  A sunset clause allows a party to terminate an Agreement to Lease if certain events do not occur within a specified time frame.  A requirement for a personal guarantee from the directors and the shareholders of the tenant company is also common place to give a landlord protection against the limited liability nature of a company.  A recent High Court case has highlighted how important it is for a sunset clause is to be drafted carefully so it accurately reflects the intentions of both parties.  It also serves as a timely remind of how crucial it is to ensure that the terms of any personal guarantee are in writing and signed by the guarantors.

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New Zealanders not Welcome

Created: Tuesday, 23 February 2016 19:22

It seems our booming tourism industry exists despite itself.  On the one side we have an industry asking New Zealanders to accept their overseas guests driving on New Zealand roads, that they cover the cost of screening those overseas guests for food items which could damage our agriculture industries and yet some members of that same industry refuse to accommodate those New Zealanders from whom it seeks those favours just because they are New Zealanders.

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Guide to protecting your intellectual property in a world market

Created: Thursday, 04 February 2016 06:49

 

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Franchisors - Are you ready for 2016?

Created: Wednesday, 03 February 2016 12:57

The start of any new year always holds such promise and potential.  Now is a good opportunity to consider various aspects of your business and consider ways that you can make your franchise even better than before. 

We have set below a few issues which you may like to consider for this year:

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Resource Legislation Amendment Bill 2015 changes more than just RMA

Created: Wednesday, 16 December 2015 01:19

Continuing Brookfields commentary on the Resource Legislation Amendment Bill ("the Bill"), we look at changes that go to legislation beyond the Resource Management Act 1991 ("RMA").

One of the key objectives of the Bill is to achieve better alignment and integration across the resource management system.  In order to accomplish this, the Bill provides for a number of amendments to other statutes in order to streamline the processes to be followed, and to reduce time-consuming duplication.  The key changes to other statutes are set out below.

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Resource Legislation Amendment Bill 2015: Changes to consenting

Created: Wednesday, 16 December 2015 00:19

This article discusses changes to the consenting process that have been introduced in the Resource Legislation Amendment Bill (the Bill).  Our previous articles discussing other changes contained in the Bill can be found on Brookfield’s Environment/Resource Management webpage.

The Bill introduces a number of measures that aim to simplify the consenting process – essentially by reducing the requirements for consents.  Among others, the Bill provides Councils with discretion to not require a resource consent for minor issues, introduces a 10-day ‘fast-track’ process for simple consents, and removes requirements for consents where they are already required under other Acts.  Minister for the Environment, Hon Nick Smith, has predicted that the suite of measures will “reduce the number of consents required each year by thousands.”   Key amendments to the Resource Management Act 1991 (RMA) as proposed by the Bill are outlined below:

Introducing ‘fast-track’ applications

  • The Bill creates ‘fast-track’ applications that are designed to speed up the consenting process for simple resource consents.  Fast-track applications are proposed to apply to applications that are controlled, other than subdivision of land (proposed s 87AAC(1)).
  • In addition, a proposed section 360F provides the Minister with the ability to prescribe certain activities or classes of activities as fast-tracked, so long as he or she is satisfied that they are of an appropriately small scale and complexity.
  • If an application is fast-tracked, a consent authority has 10 working days (as opposed to the regular 20) from the application being lodged to advise the applicant whether the application will be notified or not (s 87AAD). 
  • If an application is notified, or a hearing is held, the application will cease to be fast-tracked.
  • In all other ways a fast-tracked application is treated as a regular application under the RMA.

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