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Companies Act 1993
The Companies Act is an Act of Parliament passed in New Zealand in 1993. The Act regulates companies, and replaces the earlier Companies Act of 1955. See also * ''Mason v Lewis -'' Decision holding that the test for determining what reckless trading under section 135 of the Companies Act 1993 is an objective one. * ''Allied Concrete Ltd v Meltzer -'' Decision determining the meaning of "gave value" in section 296(3)(c) of the Companies Act. References {{Reflist External linksText of the Act Statutes of New Zealand Corporate law New Zealand business law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand Parliament
The New Zealand Parliament ( mi, Pāremata Aotearoa) is the unicameral legislature of New Zealand, consisting of the King of New Zealand ( King-in-Parliament) and the New Zealand House of Representatives. The King is usually represented by his governor-general. Before 1951, there was an upper chamber, the New Zealand Legislative Council. The New Zealand Parliament was established in 1854 and is one of the oldest continuously functioning legislatures in the world. It has met in Wellington, the capital of New Zealand, since 1865. The House of Representatives normally consists of 120 members of Parliament (MPs), though sometimes more due to overhang seats. There are 72 MPs elected directly in electorates while the remainder of seats are assigned to list MPs based on each party's share of the total party vote. Māori were represented in Parliament from 1867, and in 1893 women gained the vote. Although elections can be called early, each three years Parliament is dissolved and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Zealand
New Zealand ( mi, Aotearoa ) is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and over 700 smaller islands. It is the sixth-largest island country by area, covering . New Zealand is about east of Australia across the Tasman Sea and south of the islands of New Caledonia, Fiji, and Tonga. The country's varied topography and sharp mountain peaks, including the Southern Alps, owe much to tectonic uplift and volcanic eruptions. New Zealand's capital city is Wellington, and its most populous city is Auckland. The islands of New Zealand were the last large habitable land to be settled by humans. Between about 1280 and 1350, Polynesians began to settle in the islands and then developed a distinctive Māori culture. In 1642, the Dutch explorer Abel Tasman became the first European to sight and record New Zealand. In 1840, representatives of the United Kingdom and Māori chiefs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mason V Lewis
''Mason v Lewis'' is a Court of Appeal of New Zealand, Court of Appeal decision that held that the test for determining what reckless trading under section 135 of the Companies Act 1993 is an objective one. The decision also clarified that s 135 is concerned not with deterring mere risk but with prohibiting "substantial risk of serious loss". Background Mr and Mrs Lewis were directors of their own printing business, set up in 1984, who invested in and became directors of a company called Global Print in 1999. Global Print was the idea of Mr Grant, who became its manager. In February 2000 Global Print lost its main contract, although the Lewises did not learn of this until April 2000. Until this point there were four other directors, three former colleagues of Mr Grant and his wife, Mrs Grant, but on 20 April 2000 the three former colleagues resigned as directors. The financial position of the company gradually worsened and in September 2001 Mrs Lewis resigned as a director. In F ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allied Concrete Ltd V Meltzer
''Allied Concrete Ltd v Meltzer'' was a landmark Supreme Court decision on the defence to a court order allowing a liquidator to claw back value from an insolvent transaction. The matter in contention concerned whether repaying an old debt satisfied the words "gave value" in section 296(3)(c) of the Companies Act 1993. The Supreme Court unanimously agreed that "gave value" includes value given when a debt was initially incurred by the now insolvent debtor company. Background Section 292(1) of the Companies Act 1993 says that an insolvent transaction entered into within two years of a company commencing liquidation can be voided by the liquidator. Section 292(2) of that Act defines an insolvent transaction as one that, (a) is entered into at a time when the company is unable to pay its due debts; and (b) enables another person to receive more towards satisfaction of a debt owed by the company than the person would receive, or would be likely to receive, in the company's liqu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statutes Of New Zealand
A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by legislative bodies; they are distinguished from case law or precedent, which is decided by courts, and regulations issued by government agencies. Publication and organization In virtually all countries, newly enacted statutes are published and distributed so that everyone can look up the statutory law. This can be done in the form of a government gazette which may include other kinds of legal notices released by the government, or in the form of a series of books whose content is limited to legislative acts. In either form, statutes are traditionally published in chronological order based on date of enactment. A universal problem encountered by lawmakers throughout human history is how to organize published statutes. Such publications ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
