News & Insights

Significant changes to the corporate governance disclosure rules were proposed last year and a draft bill is expected to be released in mid 2023. These changes are intended to improve the transparency of beneficial ownership of companies and limited partnerships, and signal a major departure from the long-standing ability of these beneficial owners to remain anonymous.

Keynote speeches from the recent Financial Services Council Outlook in January 2023 from the Financial Markets Authority noted imminent changes to its enforcement regime with more effective, efficient intervention and a greater willingness to take enforcement action. We summarise what this means for "eligible investors" and self-certification for property investments, with the FMA expecting a higher level of compliance in this space.

If you believe that you have a legal claim, New Zealand law requires that you actively take steps to pursue it within a defined period of time. If you fail to do so, the claim cannot proceed. This is known as the limitation period. So how long do you have to make a claim?

Clubs and other not-for-profit groups be aware: recent changes to incorporated societies legislation will require all clubs and not-for-profit organisations to review their rules and seek specialist advice to ensure they remain compliant, and all will need to re-register with the Registrar of Incorporated Societies.

Terms of Trade vary depending on whether your business supplies goods or services. They have an important role in minimising dispute and in managing risk. We recommend you check your terms are current, effective, and enforceable.

With changes to the Fair Trading Act coming into force in August 2022, the time for small businesses to review the terms of their contracts is now.