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.