Duty of directors to act in good faith and in best interests of company
Subject to this section, a director of a company, when exercising powers or performing duties, must act in good faith and in what the director believes to be the best interests of the company.
For these explanations I the director of the NZSA require you to talk with me directly via email HERE
Subject to subsection (2), a company whose shares are subject to a listing agreement with a stock exchange must, within 20 working days after the issue, or registration of a transfer, of shares in the company, as the case may be, send a share certificate to every holder of those shares stating—
the name of the company; and
the class of shares held by that person; and
the number of shares held by that person.
Nothing in subsections (1) or (5) applies in relation to a company the shares in which can be transferred in accordance with the rules of a designated settlement system, or under a system approved under section 376 of the Financial Markets Conduct Act 2013, that does not require a share certificate for the transfer of shares.
A shareholder in a company, not being a company to which subsection (1) or subsection (2) applies, may apply to the company for a certificate relating to some or all of the shareholder’s shares in the company.
On receipt of an application for a share certificate under subsection (3), the company must, within 20 working days after receiving the application,—
if the application relates to some but not all of the shares, separate the shares shown in the register as owned by the applicant into separate parcels; one parcel being the shares to which the share certificate relates, and the other parcel being any remaining shares; and
in all cases send to the shareholder a certificate stating—
the name of the company; and
the class of shares held by the shareholder; and
the number of shares held by the shareholder to which the certificate relates.
Notwithstanding section 84, where a share certificate has been issued, a transfer of the shares to which it relates must not be registered by the company unless the form of transfer required by that section is accompanied by the share certificate relating to the share, or by evidence as to its loss or destruction and, if required, an indemnity in a form required by the board.
Subject to subsection (1), where shares to which a share certificate relates are to be transferred, and the share certificate is sent to the company to enable the registration of the transfer, the share certificate must be cancelled and no further share certificate issued except at the request of the transferee.
Nothing in this section (except subsection (2)) limits or affects section 100 of the Financial Markets Conduct Act 2013.
If a company fails to comply with subsection (1) or subsection (4),—
the company commits an offence and is liable on conviction to the penalty set out in section 373(1); and
every director of the company commits an offence and is liable on conviction to the penalty set out in section 374(1).
Section 95(2): replaced, on 24 November 2009, by section 18 of the Reserve Bank of New Zealand Amendment Act 2009 (2009 No 53).
Section 95(2): amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
Section 95(6A): inserted, on 1 July 1994, by section 13 of the Companies Act 1993 Amendment Act 1994 (1994 No 6).
Section 95(6A): amended, on 1 December 2014, by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).
is not a new company and started out as a Hobby business in the early years. We will tell you that today the company is embarking on a number of new endevours such as Robotics within the SavageKiwis tech department, the mining of asteroids and the setup of a launch pad in the south Island of New Zealand at an undisclosed location which will be top secrete for as long as we can keep it this way.
The company currently owns a number of Items that are internet based and a plant and tech lab and engineering department in New Plymouth New Zealand.
Currently the current companies worth including share holdings, stands at $1,000,010,000:00