Corporations Act amended to include banned Kiwis
Company directors banned from managing companies in NZ will also be disqualified in Australia under an amendment to the Corporations Act.
The Corporations Amendment (No 1) Act 2008 amends the Corporations Act to disqualify a person from managing corporations in Australia if the person is currently disqualified by a foreign court from being a director of a foreign company.
Though the amendment is not limited to orders made by a NZ court, it is intended to satisfy a business law co-ordination memorandum signed by Australia and NZ in 2000 and amended in 2006.
Equivalent legislation is already in place in NZ.
The Corporations Amendment (No 1) Act 2008 amends the Corporations Act to disqualify a person from managing corporations in Australia if the person is currently disqualified by a foreign court from being a director of a foreign company.
Though the amendment is not limited to orders made by a NZ court, it is intended to satisfy a business law co-ordination memorandum signed by Australia and NZ in 2000 and amended in 2006.
Equivalent legislation is already in place in NZ.