New Zealand Legislation: Acts

16 Capacity and powers

• (1) Subject to this Act, any other enactment, and the general law, a company has, both within and outside New Zealand,—

  • (a) full capacity to carry on or undertake any business or activity, do any act, or enter into any transaction; and

  • (b) for the purposes of paragraph (a), full rights, powers, and privileges.

  (2) The constitution of a company may contain a provision relating to the capacity, rights, powers, or privileges of the company only if the provision restricts the capacity of the company or those rights, powers, and privileges.