Politicians wary of over-reaching in imposing criminal sanctions on directors

Tue, 11 Dec 2012

By Paul McBeth Dec. 11 (BusinessDesk) - New Zealand politicians are wary of racking up more criminal penalties on directors who breach their duties to companies and creditors, and have asked the government to take another look at pending legislation. Parliament's commerce select committee supports Commerce Minister Craig Foss in taking another look at the drafting of legislation that would criminalise directors for breaching their fiduciary duties, according to the report-back on the Companies and Limited Partnerships Amendment Bill. Foss sa...

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