New Zealand announces a package of reforms updating company law, including addressing phoenixing and privacy concerns.

New Zealand's Commerce and Consumer Affairs Minister, Andrew Bayly, has announced a package of reforms aimed at modernizing and simplifying the country's company law. The changes include updating insolvency laws to combat phoenixing, assigning unique identification numbers to directors for enhanced transparency, and offering the option for directors to remove their home addresses from the Companies Register to address safety and privacy concerns. The second phase of reforms will focus on company directors' duties and related issues, starting with a review by the Law Commission in 2025.

August 14, 2024
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