Reforms to the Companies Act are meant to make Aotearoa New Zealand an easier and safer place to do business. But key gaps in the reforms mean they could fall short of achieving these goals.
Last year, the government announced a package of reforms to update the Companies Act and related corporate governance legislation.
The reforms include modernising and simplifying the rules. For example, company directors will be given a unique identifier to combat phoenixing – the practice of directors closing failing companies only to relaunch under a slightly different name.
