Part 2 Incorporation

Essential requirements

10 Essential requirements

A company must have—

(a)

a name; and

(b)

1 or more shares; and

(c)

1 or more shareholders, having limited or unlimited liability for the obligations of the company; and

(d)

1 or more directors, of whom at least 1 must—

(i)

live in New Zealand; or

(ii)

live in an enforcement country and be a director of a body corporate that is incorporated in that enforcement country under a law that is equivalent to this Act.

Section 10(d): replaced, on 1 May 2015, by section 9 of the Companies Amendment Act 2014 (2014 No 46).

Section 10(d)(ii): replaced, on 30 May 2017, by section 15 of the Regulatory Systems (Commercial Matters) Amendment Act 2017 (2017 No 12).