Companies Act 1993

151 Qualifications of directors

  • (1) A natural person who is not disqualified by subsection (2) may be appointed as a director of a company.

    (2) The following persons are disqualified from being appointed or holding office as a director of a company:

    • (a) a person who is under 18 years of age:

    • (b) a person who is an undischarged bankrupt:

    • (ba) a person who would, but for the repeal of section 188A or section 189 or section 189A of the Companies Act 1955, be prohibited from being a director or promoter of, or being concerned or taking part in the management of, a company within the meaning of that Act:

    • (c) a person who is prohibited from being a director or promoter of or being concerned or taking part in the management of a company under section 199K or section 199L of the Companies Act 1955 or who would be so prohibited but for the repeal of that Act:

    • (d) a person who is prohibited from being an officer or promoter of or being concerned or taking part in the management of a company under section 199N of the Companies Act 1955 or who would be so prohibited but for the repeal of that Act:

    • (e) a person who is prohibited from being a director or promoter of or being concerned or taking part in the management of a company under section 382 or section 383 or section 385:

    • (eb) a person who is prohibited from 1 or more of the following under an order made, or a notice given, under a law of a prescribed country, State, or territory outside New Zealand:

      • (i) being a director of an overseas company:

      • (ii) being a promoter of an overseas company:

      • (iii) being concerned or taking part in the management of an overseas company:

    • (f) a person who is subject to a property order made under section 30 or section 31 of the Protection of Personal and Property Rights Act 1988:

    • (g) in relation to any particular company, a person who does not comply with any qualifications for directors contained in the constitution of that company.

    (3) A person that is not a natural person cannot be a director of a company.

    (4) A person who is disqualified from being a director but who acts as a director is a director for the purposes of a provision of this Act that imposes a duty or an obligation on a director of a company.

    Section 151(2)(ba): inserted, on 1 July 1994, by section 18 of the Companies Act 1993 Amendment Act 1994 (1994 No 6).

    Section 151(2)(ea): inserted, on 25 October 2006, by section 25 of the Securities Amendment Act 2006 (2006 No 46).

    Section 151(2)(eb): inserted, on 18 June 2007, by section 5(1) of the Companies Amendment Act (No 2) 2006 (2006 No 62).