Law Society: a full review of Companies Act is needed

B Lab AANZ's written submission brought up economist Milton Friedman. (Image: Getty)

Sat, 11 Feb 2023

A full review of the 30-year-old Companies Act is needed, rather than making a few ad-hoc changes that could have unintended consequences, the Law Society says.The New Zealand Law Society (NZLS) is one of 56 organisations and individuals that have made submissions on the Companies (Directors Duties) Amendment Bill. The legislation aims to allow company directors to take into account wider non-financial issues as part of their duties towards their business.The bill, from Labour MP Duncan Webb, was drawn from the members’ ballot last Septem...

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