Companies directed by a single individual living outside Australasia – to be removed

New Zealand registered companies that continue to be directed beyond 28 October 2015 by a single individual who resides outside Australasia – will be removed from the register of companies by the Registrar of Companies, under changes being introduced by the Companies Amendment Act 2014 and the Limited Partnerships Amendment Act 2014. Under this legislation ……

By 28 October 2015 ….  

All New Zealand companies will have to have at least one director who 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 (ACN, name and registered office address).

All sole directors of any NZ company who reside outside Australia will have to get busy and before 28 October 2015 appoint at least one suitable director who actually resides in New Zealand, if the company is to comply with the new law. This may prove a demanding task in the case of for example, a sole director who resides in the United States and who currently directs a significant number of NZ companies on his/her own.

See informative case study link PDF below.

John M Carr Company Scheme Updated 3 July 2015

Also see reference:

https://www.business.govt.nz/companies/news-updates/companies-and-limited-partnerships-amendment-acts

Photos of John Malcolm Carr CPA

Photo 1: http://www.carr.co.nz/images/jmc.jpg

Photo 2: http://www.bankler.com/AboutUs/JohnMCarr/tabid/130/Default.aspx

Photo 3: https://www.linkedin.com/in/johnmalcolmcarr

Photo 4: http://taxdeity.com/

Soaring Kiwis – Non-Compliance with the Companies Act: A Case Study

Soaring Kiwis LtdJohn Malcolm Carr is the sole director of this company and its board has failed to file its annual return with the Registrar of Companies. It was due in May 2015. This failure is a breach of Section 214 of the Companies Act 1993. Every director of a company commits an offence in failing to comply with s. 214 and is liable on conviction to the penalty set out in section 374(2) of the Act (see below).

Let’s see how the law works in this case …… in a study of non-compliance and enforcement issues. [Read more…]

DSS Ecotech Ltd – Non-Compliance with the Companies Act: A Case Study

DSS Ecotech Ltd: Simon Hugh Johnston is co-director along with David Bruce Crow of DSS Ecotech Limited [formerly ASM Sonic (NZ) Ltd]. These two directors have failed to file the company’s Annual Return that was due in May 2015…… Let’s see how the law works in this case …… in a study of non-compliance and enforcement issues.

The Companies Office website reports:

This company is now overdue in its obligation to file an annual return. If the annual return is not filed immediately the Registrar will initiate action to remove the company from the register.” [Read more…]

Soaring Kiwis Ltd – Non-Compliance with the Companies Act: A Case Study

Soaring Kiwis LtdJohn Malcolm Carr is the sole director of this company and its board has failed to file its annual return with the Registrar of Companies. It was due in May 2015. This failure is a breach of Section 214 of the Companies Act 1993. Every director of a company commits an offence in failing to comply with s. 214 and is liable on conviction to the penalty set out in section 374(2) of the Act (see below).

Let’s see how the law works in this case …… in a study of non-compliance and enforcement issues. [Read more…]

New Zealand Petroleum Exploration Limited: ‘defunct’ company with issues of non-compliance

The Registries Integrity and Enforcement Team (RIET) are part of the Companies Office.  Its  role is to ensure the integrity of the registers that are administered by the Companies Office, by proactively monitoring their use.  RIET primarily acts by seeking compliance or preventing misuse but, where appropriate, it prosecutes offences on behalf of the Registrar of Companies – Mandy McDonald.

The public are encouraged to contact RIET if they become aware of company directors who are failing to comply with the law.

see: http://www.business.govt.nz/companies/about-us/enforcement/contact-registries-integrity-enforcement

To help understand the crucial role of RIET consider the following case study: [Read more…]