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flag New Zealand updates its Companies Act to modernize business, though critics say it doesn't go far enough.

flag New Zealand is updating its Companies Act to modernize business practices and reduce compliance burdens. flag The reforms include digitizing the Act, introducing unique identifiers for directors, and promoting the New Zealand Business Number. flag Critics argue the reforms fall short by removing an amendment allowing directors to consider ESG factors and failing to establish a beneficial ownership register, which could help combat financial crime. flag Some suggest the reforms should be more tailored to small to medium enterprises.

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