Many legal minds making NZ LAW work

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Fine Print

Published three times a year. Fineprint is NZ LAW's flagship publication with wide-ranging articles.

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Commercial eSpeaking

Covering in-depth business law issues, this newsletter is distributed three times a year to member firms' commercial clients.

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Trust eSpeaking

Published two times a year. Covers stories of interest to trustees and professionals advising on asset protection and trusts.

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Property Speaking

Published three times a year. Keeping property investors and owners abreast of current property issues.

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Rural eSpeaking

Covers stories of interest to farmers and those working in the rural sector, in matters relating to New Zealand's heartland.

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Find a Law Firm

If you would to talk with a lawyer on any of the topics covered in any five of our client newsletters.

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Articles

Published 23rd July 2019 by John Sheddan, Sheddan Pritchard Law Ltd

Implications for owners of forestry blocks
New Zealand’s Emissions Trading Scheme (ETS) was established by the Climate Change Response Act 2002. The ETS was created as the vehicle for New Zealand to meet its obligations for the reduction of greenhouse gas (GHG) emissions under the Kyoto Protocol. The purpose of the ETS is to achieve a reduction in GHG emissions through emissions trading. Emissions trading is the exchange of carbon credits between those parties with surplus credits and those who are required to contribute credits as compensation for their production of GHG emissions.

Published 23rd July 2019 by Kirsten Patterson, CEO, Institute Directors

The damage from governance failure can be profound, and can attract significant unwelcome media and public scrutiny. Focusing on the learnings from these cases is how we can get some real benefit and continuous improvement in corporate governance.

He tāngata – it is the people
Governance is, above all, about people. It’s a team game and, like any team, the board’s composition, and its culture and dynamic, are all critical to its effectiveness. 

Published 23rd July 2019 by Laurel Simm, Law North Limited

Making a good choice
Having an executor of your will is like having a manager of your affairs (your estate) after your death. Your executor is named in your will; it is his or her role to carry out the terms of your will. Many people have more than one executor; it spreads the load and it’s also good to have another executor to discuss things with.

Published 23rd July 2019 by Angela Stafford, Wain & Naysmith

Risk of hefty penalties if you don’t
There are plenty of war stories about recordkeeping blunders. Think of offices crammed with paper, ‘lost’ documents, fireplace filing systems and online voids.

Section 194(1) of the Companies Act 1993 requires boards to keep correct accounting records. Records are supposed to ‘speak for themselves’ and allow the company’s financial position to be determined at any time with reasonable accuracy. Failure to keep proper records can badly hurt your business.

Published 6th June 2019 by Rebecca Nilsen, Cruickshank Pryde

Can be a real risk for business
When the Personal Property Securities Register (the PPSR) was established in 1999, most businesses were quick to catch on that it was a good idea to register security over goods that were sold under a line of credit. What wasn’t so easily recognised is that the register was designed to also capture leases of goods that are indefinite or extend past one year.

Published 6th June 2019 by Norris Ward McKinnon

Mainzeal case – highlights director responsibilities
The recent high-profile Mainzeal case has highlighted the importance for directors to know and understand their duties under the Companies Act 1993.

Four of Mainzeal’s directors were found liable for $36 million in damages for breaching section 135 of the Act which is headed ‘reckless trading’. This section prohibits directors from agreeing to cause or allow the business of the company to be carried out in a way that is likely to create substantial risk of serious loss to the company’s creditors.

Published 6th June 2019 by Norris Ward McKinnon

Some possible implications for this country

The Clarifying Lawful Overseas Use of Data Act was enacted in the United States in 2018. It enables federal law enforcement to force US-based electronic communications or remote computing service providers to disclose requested data in their possession, custody or control, whether or not that data is stored in the US or a foreign country. This is a game-changer for global data sovereignty.

Published 6th June 2019 by Norris Ward McKinnon

Do you have the right to play the music you’re playing?

A 2018 High Court decision (1) has shown you should consider your right to use a third party’s intellectual property, such as playing music in the course of your business operations.

If you use music or play the radio in a business or public setting that is considered a ‘public performance’ you could be contravening a provision in the Copyright Act 1994. This includes playing music and/or radio broadcasts in any commercial environment, such as a café, restaurant, bar, shop or factory.

Published 5th June 2019 by Adrienne Olsen

As expected the government’s The Wellbeing Budget, presented by the Minister of Finance, the Hon Grant Robertson, on 30 May focussed very much on mental health and child wellbeing.

Published 20th May 2019 by Scott Chamberlain, RMY Legal

Important to get the GST component right
Generally speaking, GST on a property sale and purchase between two GST-registered entities results in a ‘GST neutral’ position for both the seller and the buyer. It’s essential that the sale and purchase agreement contains the correct wording, particulars and information in respect of the GST position of the parties to the agreement.