2017

Many small companies – especially family-owned or “owner/operator” businesses – have the same directors and shareholders. In these companies, it is common practice for shareholders to have a “shareholder current account”, also referred to as “drawings”.

New fees and forms are introduced with small changes to service requirements due to recent amendments to the Resource Management (Forms, Fees, and Procedure) Regulations 2003. 

The Supreme Court’s decision of David Browne Contractors Ltd v Petterson [2017] NZSC 116 was released this earlier week.  The Supreme Court has held that “due debts” in the voidable transactions regime (s292 of the Companies Act 1993) includes both present and contingent debts. 

On 1 August 2017 the Tribunals Powers and Procedures Legislation Bill was introduced into Parliament and amongst other changes increases the jurisdiction of the Disputes Tribunal from $15,000 to $30,000.  

Property Law

In the 1870’s the Government sought to gain access to land in the District. Its vision was to create a township that would be the gateway to a thermal wonderland including the world-renowned Pink and White Terraces.

Minister for the Environment Nick Smith announced on 9 August 2017 that the National Policy Statement for Freshwater Management 2014 (NPSFM) would be amended and gazetted on 10 August 2017.  This represents the third set of amendments to the NPSFM since it was first gazetted in 2011 and then replaced in 2014.