The Companies Office register is a transparent source of info about registered NZ companies. However, companies can’t rely on this register alone to be fully compliant.
What do NZ companies need a share registry for?
While the Companies Office holds some shareholder information, it’s not a fully compliant share register in of itself. It’s missing a lot of additional information that all companies need to remain compliant, including:
The number and type of shares every shareholder owns. The NZ Companies office only requires holdings for the 20 largest shareholders and does not record share classes or types of shares.
Any restrictions or limitations on the transfer of shares, and where to find the details.
Dates and details of any repurchase or redemption of shares for each shareholder for up to ten years.
It doesn't matter if you're a small, early stage business, or a larger corporation, every business in New Zealand has to follow these rules.
The Companies Act 1993 permits a company to hold its share register by an agent or in a different place in New Zealand.
What other information do NZ companies need to be compliant?
Companies must also keep a range of other important information documented for at least 7 years at their registered office including:
Written communications with shareholders, including emails
Minutes of meetings and Resolutions of shareholders
Minutes of all meetings and resolutions of directors and directors’ committees
Certificates issued by directors
Copies of all financial statements
Company records about assets and liabilities.
Other documents that must be kept at the registered office include a copy of the Company Constitution, the interests register, the full name and addresses of the current directors.
These records may also be kept in a different place, provided it is in New Zealand.
Are you meeting your share register legal obligations?
Our research has found that up to 80% of New Zealand companies aren’t meeting their share register compliance requirements.
Get in touch today to learn how to easily keep your share register compliant and, most importantly, avoid being fined.
Now for the legal bit
This article is for informational purposes only and contains general information only. Sharesies is not, by means of this information, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business or interests. Before making any decision or taking any action that may affect your business or interests, you should consult a qualified professional advisor. This information is not intended as a recommendation, offer or solicitation for the purchase or sale of any options or shares.
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