Directors, employees in spotlight for full personal liability
OPINION: Without constitutions, two in three companies in NZ cannot provide insurance for their directors or employees.
Paul MoodieSat, 16 Jul 2022
Startling figures from the Ministry of Business, Innovation and Employment confirm that of the 701,710 companies on the New Zealand register, 469,951 companies do not have constitutions. This exposes the directors and employees of these companies to full personal liability.
The Companies Act 1993
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