Directors' duties law called 'silly bill-iness' by law firm

Chapman Tripp said the existing law was already clear that directors were not limited to maximising profits. (Image: Getty)

Ian Llewellyn

Wed, 02 Aug 2023

A bill amending the definition of directors’ duties has passed into law with changes that make it nothing more than “virtue-signalling”, experts say.The original intent of the Companies (Directors' Duties) Amendment Bill was to make clear directors could consider other matters rather than profit when making decisions and listed issues such as the principles of the Treaty of Waitangi, the environmental impacts and other matters.After some delays, the bill recently completed its committee stage with the sponsoring MP, L...

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