Over 700 people banned by the Companies Office since 2017

(Image: Getty)

Thu, 13 Apr 2023

The New Zealand Companies Office has put 705 directors in regulatory purgatory over the past five years.Its integrity and enforcement manager, Vanessa Cook, said the Companies Act had several provisions that allowed authorities to prohibit individuals from managing companies – or ban them altogether.Since 2017, she said 538 individuals have been prohibited under section 382 of the act. This prohibited people from managing companies if they’d been convicted of certain offences and automatically prohibited them from acting as a d...

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