In New Zealand, we are lucky to have a transparent and easily accessible Companies Office Share Registry. It contains a tonne of useful information and is an excellent snapshot of some of the information and records a Company must maintain.
But in itself, the Companies Office platform is not a fully compliant share register and is missing a lot of additional information all New Zealand companies need to maintain. For example, within the Share Registry space every company in New Zealand must record;
Companies must also keep a range of other important information documented for at least seven years including;
While the NZ Companies Office will always work with companies to ensure that they are meeting their legal obligations, action can be taken against a company and its directors who continue to breach minimum standards. Punishments can include fines, and in limited cases, prosecution.
The good news is that meeting company compliance minimum requirements doesn’t need to be a concern or a tedious job. Instead, it is a case of developing sound systems and ensuring you keep on top of this stuff as it happens.
Orchestra.co.nz offers an easy way to ensure you meet your Company and Share Registry requirements, whilst also creating a single source of truth with the NZ Companies Office. Any update to your Share Registry on Orchestra will also update the NZ Companies Office, plus you can save the documents you need to keep for your company in your Orchestra Document Vault.