Articles

Welcome to the Sharp Tudhope Lawyers' blog. Here you will find  topical information and advice relating to a wide range of areas of law, written by our legal experts.

THE FINANCIAL MARKETS CONDUCT ACT - ARE YOU READY FOR THE TRANSITION?

The full force of the Financial Markets Conduct Act 2013 (“FMC Act”) came into effect on 1 December 2014. If you are an issuer of securities you will need to ready yourself for the transition to the FMC Act.
Written by James Moran at 11:00

6 CHANGES TO THE EMPLOYMENT RELATIONS ACT COMING ON 6TH MARCH

On 6 March 2015 the Employment Relations Act is changing. Here are the 6 key changes: 1. Refinements to employers’ disclosure obligations The duty of good faith in section 4 will be amended to extend the circumstances in which an employer may refuse to disclose information to an employee whose position is being restructured. Employers will be entitled to withhold confidential information about a person other than the affected employee, but only if it involves unwarranted disclosure of the affairs of that other person. This amendment addresses the conflicting obligations to disclose personal information under the Act and the duty not to disclose personal information under the Privacy Act.
Written by Shima Grice at 10:00

CONSUMER LAW UPDATE - UNFAIR CONSUMER CONTRACTS

On 17 March 2015, changes to the Fair Trading Act 1986 (the “FTA”) are due to come into effect. These changes will specifically regulate what can be described as "standard form consumer contracts" (which may in fact also include business-business contracts relating to consumer goods) to address concerns about consumer contracts, or specific terms in consumer contracts, being unfair.
Written by Mark O'Donnell at 12:00

DIVIDING UP RELATIONSHIP PROPERTY

If your marriage, civil union, or de facto relationship has ended, then you should be aware that an agreement prepared by yourselves dividing your property, and subsequently signed and witnessed by friends, is not a valid agreement.
Written by Karen Gravatt at 09:45

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MORE CERTAINTY FOR CREDITORS FOLLOWING SURPREME COURT DECISION

The eagerly awaited Supreme Court judgment of the Fences & Kerbs appeal has been released. The Supreme Court has unanimously allowed the appeals against the prior Court of Appeal decision that had “left very little scope for the operation of the [s296 Companies Act] defence” against voidable transactions. The Supreme Court considered its interpretation of the meaning of “gave value” was consistent with Parliament’s intention of increasing certainty for creditors who trade with companies in good faith and without any reason to suspect that the company is in financial difficulty.
Written by Matthew King / Nicola Scott at 00:00

RELATED COMPANIES LIABILITY - COMPANIES BEWARE

If one company in a group of companies goes into liquidation then the parent company and other subsidiaries may be held liable for its debts. A recent High Court decision in Lewis Holdings Ltd v Steel & Tube Holdings Ltd , saw the Court use section 271 of the Companies Act 1993 to hold a parent company liable for the debts of its subsidiary.
Written by James Moran at 13:00

WHAT IS A GENERAL SECURITY AGREEMENT ('GSA')?

You may have been asked to enter into a General Security Agreement (‘GSA’) to provide security over your assets to a third party, before that party will advance you money, goods or services. What does this mean? Click the heading above to find out.
Written by Default at 15:00

COMVITA RAISES $24.4M UNDER NEW SECURITIES LAWS

NZX listed Comvita Limited has announced the successful completion of a 1 for 5 renounceable rights offer and shortfall book build, raising $24.4million.
Written by Kylie van Heerden at 15:00

CHANGES TO THE BUILDING ACT 2004 - 4 KEY THINGS YOU NEED TO KNOW

The changes to the Building Act 2004 (“the Act”), which took effect on 1 January 2015 attempt to strengthen consumer protection around residential building work. As a result, building contractors involved in the residential sector will need to update their contract documentation. Click the heading above to read more.
Written by Richard Kettelwell at 09:00

IS HEALTH AND SAFETY INGRAINED IN YOUR WORKPLACE CULTURE?

There was an interesting article in the NBR recently written by the chair of Worksafe on what Directors’ responsibilities will be under the new health and safety legislation. Click the heading above to read more.
Written by Default at 09:00

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