First transitional period for Companies Amendment Act 2014 ended on 28 October
The Companies Amendment Act 2014, which came into force on 1 May 2015, introduced a number of changes to prevent misuse of the companies register, and to improve the integrity of the information held on the register.
To ensure that existing New Zealand companies have every opportunity to prepare for, and meet, their legislative obligations, the Amendment Act included a number of transitional periods for providing this information. The first transitional period relating to one of these changes ended on 28 October 2015.
What you need to know
|28 October 2015|
All New Zealand companies will be required to have at least one director that either lives in New Zealand; or lives in Australia and is a director of a company incorporated in Australia by 28 October 2015.
When filing annual returns after 28 October 2015 New Zealand companies will need to indicate whether any director living in Australia is also a director of a company incorporated in Australia. They will also need to provide details of one of those Australian companies (Australian Company Number (ACN), name and registered office address).
New Zealand companies – What is needed:
As a result of the first two stages of implementation, all New Zealand companies are now required to provide:
- The dates and places of birth for all directors (these will not be publicly available).
- At least one director that either lives in New Zealand 1; or lives in Australia and is a director of a company incorporated in Australia (when incorporating a new company).
- An indication as to whether any director living in Australia is also a director of a company incorporated in Australia and the details of one of those Australian companies (ACN, name and registered office address).
- Details of any Ultimate Holding Company if applicable.
When adding a new director to any New Zealand company the date and place of birth needs to be provided for the director.
1 Note | The term ‘lives in New Zealand’ is not defined in the Companies Amendment Act 2014. The Registrar of Companies has decided to interpret this on the basis that a director lives in New Zealand if he or she is personally present in New Zealand for more than 183 days in total in a 12-month period.