Why Register? In times of financial difficulty, shareholders of SME’s will often advance additional capital to a company to keep it afloat. Shareholder advances may be in the form of a term loan to the company, or via a shareholder’s current account and should be appropriately documented at the time of the advance. It is…
The Organic Products Bill is currently with the Committee of the Whole House before it goes for its third reading and receives the Royal Assent and is passed as law. The purpose of the bill is to increase consumer confidence in purchasing organic products, increase certainty for businesses making organic claims and facilitate international trade…
The Employment Court has recently issued a judgment, Courage v Attorney General [2022] NZEmpC 77 which involved a claim by three former members of the Gloriavale Christian Community. The applicants argued that, from the age of six until their departure from the community, they were required to “work long hours, and under harsh conditions” in…
Unpaid debts can have a significant impact on the balance sheet of any business. One option where the debtor is a company is to issue a statutory demand. Statutory demands are a particularly useful tool where the debtor is a company and the debt is undisputed. But how do statutory demands work? The statutory demand…
The demand for flexible work has increased significantly since the pandemic. Flexible work reinvents the traditional model of working at a certain premises and at certain times. Depending on the nature of the work, arrangements can now be tailored to suit the needs of individual employee. Flexible working is different for everyone. There is no…
Generally, a right of renewal under a lease does not occur automatically. In most leases, including the often used ADLS Deed of Lease, the tenant must exercise this right by a certain time and must not be in breach of any other covenant. However, failure to comply with these requirements does not necessarily mean that…
The well-known harmful health effects of smoking and in particular its effects on those within the same space as smokers was recognised over 30 years ago in the Smokefree Environments Act 1990. This was updated in 2020 to integrate vaping, with a change in name to the “Smokefree Environments and Regulated Products Act 1990”. The…
All businesses have duties to keep up to date records, registers, and documents. The following is a list of records that you are obliged to keep and maintain, and how long you need to keep them. Records and registers that need to be kept and maintained include: Employment Agreements – These must be kept and…
Most of us have noticed recently the absence of some of our favourite products at the supermarket. The most likely culprit? Congested ports, supply chain disruptions and staff shortages across all sectors as staff are increasingly either sick or self-isolating. The Omicron outbreak has also created a surge in demand for online orders. And while…
Most of you will have heard of or be familiar with the Fair Trading Act 1986 (the FTA). The FTA prohibits unfair contract terms in standard form consumer contracts. From 16 August 2022 this will be extended to standard form business-to-business or small trade contracts. Other changes include a prohibition on unconscionable conduct and restrictions…