Government measures in key jurisdictions 3rd edition final - Flipbook - Page 91
New Zealand
Company
law matters
To New Zealand’s Companies Act already permitted meetings to take place by means of audio, audio and
visual, or electronic communication, as well as in person, subject to any restriction set out in a company’s
constitution.
Have any measures
been put in place to
accommodate social
distancing (such as
remote general
meetings)?
The Government has now passed legislation to enable entities (including companies, incorporated societies,
charitable trusts, and others) to use electronic means for doing certain things that its constitution or rules
would otherwise prevent, and to temporarily modify certain requirements or restrictions in its constitution
or rules if it is not reasonably practicable to comply with them.
The matters that may be carried out (wholly or partly) by electronic means are:
•
having or recording information in writing;
•
calling or holding meetings (including for the purpose of establishing a quorum);
•
voting (provided that the entities officers believe that all of those entitled to vote will be able to do so);
•
giving or receiving information;
•
making or keeping new records;
•
providing access to records or information held by or on behalf of the entity;
• signing any instrument; and
•
retaining any information.
Temporary modifications to a constitution or rules can relate to:
•
•
•
how meetings are called or held (including deferring or waiving a requirement to hold a meeting or changing
procedures at meetings);
changing the method or form of voting; and
deferring auditing, assurance or financial reporting or review requirements.
Businesses have also been encouraged to
be witnessed using audio-visual links.
, where permitted, and for deeds to
Details on signing documents electronically, and on which documents are not permitted to be signed that way, are
available here.
Government measures in key jurisdictions
91