Insights & Articles

In Mainzeal1 the former directors were held liable for a breach of section 135 of the Act. Richard Yan, (who was the founder and main shareholder of Mainzeal's parent company, Richina Pacific) was ordered to pay compensation of $36M. Each of the other directors (Shipley, Tilby and Gomm) were held liable to contribute $6M each towards that $36M.

The Minister of Commerce and Consumer Affairs has released the content of a new Code of Professional Conduct for Financial Advice Services that should come into effect in mid-2020. The Code will require those persons who provide regulated financial advice to retail clients to meet certain standards of professional conduct, and will follow the commencement of the Financial Services Legislation Amendment Act 2019 ("FSLA").

Recent decisions of the District Court highlight the need for businesses to adhere to the Fair Trading Act 1986 ("FTA") and not mislead their customers, particularly if their customers are 'consumers' under the Consumer Guarantees Act 1993 ("CGA"). Both decisions involved prosecutions by the Commerce Commission against high profile retailers and resulted in substantial fines being awarded against these retailers.

The General Data Protection Regulation (GDPR) came into force on 25 May 2018. Even though this is a European Union regulation, it potentially has significant implications for New Zealand businesses. Technology has enabled New Zealand businesses to operate on a truly global scale and businesses collect, process and use data from all corners of the world.

Many modern businesses consist primarily of technology in the form of intellectual property. Although they may own physical assets and employ staff (though they are more likely to be engaged as contractors) the real value in the business sits almost wholly in the intellectual property developed.

From 6 May 2019 employers who have failed to record their individual employment agreements in writing will be liable for an infringement offence under the Employment Relations (Infringement Offences) Regulations 2019.

The Domestic Violence - Victims' Protection Act will come into effect on 1 April 2019. The legislation aims to enhance legal protections in the workplace for people affected by domestic violence by helping victims to stay employed and addressing discrimination stemming from domestic violence in the workplace. The Act brings a normally private matter into the working domain.

When you apply for a Protection Order you are applying to be protected from violence and harm caused by another person to you. To qualify you must be or have been in a domestic relationship with the violent person ("the respondent"): ie have been in a close and personal relationship, are the parents of, related to through blood or marriage, etc.

If you, or someone you know, are hoping to adopt a bundle of joy into the family, there is, of course, more to the process than a fly-by stork drop. The Adoption Act 1955 sets out each step to becoming an adopted child's legal guardian.

Planning Ahead: Need to make a Will even if you don't think you do?" But I don't have any assets yet" is a common response when making a Will is suggested to twenty-somethings. There is a misconception, among young people in particular, that in order to make a Will, you should have already built up a sizeable asset base. While you may not own a home or have a large un-cracked nest egg, you will almost certainly have a number of assets to protect, including: