Unfair Contract Terms
The application of the existing unfair contract terms (UCT) regime which applies to standard form contracts between businesses and consumers has been extended to apply to standard form "small trade contracts" pursuant to the Fair Trading Amendment Act 2021 (the Act) which came into force on 16 August 2022.
Commercial rent relief: Epidemic changes
With the ongoing Covid-19 pandemic changing the way many of us have been able to use our traditional working spaces, the government has proposed to step in and provide an avenue for agreement on rent relief.
No Access Clauses and Cancelation of Leases
Just as during the lockdowns last year, this year's change in alert levels has highlighted the importance of "No Access" clauses in commercial leases and their impact on a landlord's right to cancel for non-payment of rent.
Preparing for a Refinance
In the current COVID-19 world of low interest rates, we are noticing more businesses shopping around for the most attractive finance options. Once you have decided on your lender however, what happens next?
Cyber security 101 for business
You arrive at work to find that files with sensitive commercial and client information held on your computers have been hacked. This is the situation the Reserve Bank of New Zealand (RBNZ) found itself in earlier this year.
Social media – IP owner's friend or foe?
Social media is a very powerful marketing tool. If used and managed properly, platforms like Facebook, Instagram and Twitter can be a brand’s best friend.
It's time to dust off your Privacy Policy
The Privacy Act 2020 is to come into effect on 1 December 2020 (Act). The new Act reflects the more globalised business environment we live in today...will provide greater security to individuals, and place further obligations on businesses when dealing with personal information and data.
Directorships mean significant obligations
The court clearly spelt out that in insolvency...it is not acceptable to simply try to ‘trade through’... directors must ensure they use the formal (or informal) mechanisms provided in the Companies Act 1993 to address the company’s financial predicament.
Employees as Minority Shareholders
You have identified an employee who plays an important role in your business. You want to reward their efforts and offer an incentive that keeps them invested in growth of... >
Business Briefs
Directors have personal liability for company debt in liquidation / Electronic signatures – uses and risks / The Tax Working Group: recommendations coming soon
The Wellbeing Budget 2019
The wider economy was looked after with increases in funding to KiwiRail, the establishment of a new venture capital fund, investment in science and research, and so on
PPSR lease losses
When 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.
Insurance & Financial Services Ombudsman
The Insurance & Financial Services Ombudsman office (IFSO) was established in 1995 to help consumers who were in dispute with their insurers or financial services providers.
Employment law changes ahead
Last year saw many changes in the employment law sphere, with the Labour-led government delivering on promises of reform in this area
Business Briefs
Directors have personal liability for company debt in liquidation / Electronic signatures – uses and risks / The Tax Working Group: recommendations coming soon
The New PPSR Website
The new Personal Property Securities Register (PPSR) website was launched on 1 October 2018. The new website is not just a cosmetic facelift for the PPSR - it also includes a raft of changes that make the PPSR more user friendly.
Business Briefs
European Union: privacy law update / Commerce Commission action in respect of extended warranties / Workplace culture crackdown
Receivership of construction companies
Ebert Construction’s recent receivership is a reminder that not taking protective measures opens subcontractors up to recovery and enforcement issues.
Supplying goods on credit
Are your goods protected under the Personal Property Securities Act 1993?
Are you buying a small business?
As well as researching the market you will want to put a solid contract in place. A solid contract, or agreement for sale and purchase, should protect you from costly surprises after settlement.
General Data Protection Regulation
If you have customers or suppliers in the European Union, you may have to comply with the General Data Protection Regulation (GDPR) which comes into force today.
Business Briefs
Is your business infringing existing intellectual property rights? Do your homework...
What’s that smell?
Moving into the second half of 2018, New Zealand law firms, real estate agencies, and accounting firms need to make sure that they have the appropriate controls in place to perform “Know Your Client” checks as well as a framework to detect and report suspicious activities.
Competition laws: how are you affected?
The Commerce (Cartels and Other Matters) Amendment Act 2017 came into force on 14 August 2017. This legislation amended the Commerce Act 1986 and, in doing so, significantly expanded the reach of the Commerce Commission to combat "cartel" arrangements and anti-competitive activities.
Creditors remain liable for defective goods
Creditors who fall within the definition of "supplier" under the Consumer Guarantees Act 1993 (CGA) will remain liable to consumers, following government review...
New AML/CFT guidance released
Before you finish up for Christmas, take note that the AML/CFT Supervisors have this week released new and updated guidance.
Business briefs
Employment (Pay Equity and Equal Pay) Bill - What could this mean for your business and employees? / Contract and Commercial Law Act 2017 now in force - Make sure your business documents comply / Security Cameras - When does surveillance become an invasion of privacy? >
Contract and Commercial Law Act
With the Contract and Commercial Law Act 2017 coming into force on 1 September 2017, you should review your standard form business contracts to ensure they will be up-to-date. >
Budget 2017 overview
The pundits were right. The Minister of Finance, the Hon Steven Joyce, presented his first Budget on Thursday 25 May and it was definitely a ‘steady as she goes affair’ with few surprises. >
Business briefs
It will all come out in the wash: non-compliance with minimum employment standards; Further Takeovers Code relief on the way for small companies; and Employee share schemes, your time is up. >
Shareholders’ agreements
Not all relationships were built to last forever, and even the most stable relationship amongst shareholders may waver. Issues may also arise unexpectedly, such as the death of a shareholder or... >
Anti-money laundering
Lawyers, you should take note that the Anti-Money Laundering and Countering Financing of Terrorism Amendment Bill (the Bill) could be passed as early as June this year. New Zealand Lawyers need to prepare for this. >
Business briefs
OIO changes to streamline the investing and consenting processes; and Limited partnerships become popular. >
Kaikoura earthquake
The Kaikoura earthquake was another reminder of the volatile and unpredictable nature of our land. We set out some guidance on points if you own, or are a tenant in, a commercial building potentially affected by earthquake damage. >
Business briefs
Alert: Put a start date on your employment contracts; Employee share scheme tax update; An unsettling agreement; and When does a director ‘live in New Zealand’? >
Director duties
The Court of Appeal recently revisited the all-important question of how far must directors go to ‘take all reasonable and proper steps’ when making decisions on behalf of a company. How far is far enough? >
Beneficiaries' and trust information
The extent of a trustee’s obligation to provide information to beneficiaries has been a continuing source of frustration for trustees, particularly those whose discretionary decisions may be challenged. Recently the Court of Appeal clarified the nature and extent of this ... >
Changes to construction law
The Construction Contracts Act 2002 (CCA) sets out a number of duties and obligations on both those commissioning building work, and those undertaking it. >