Companies Office Announcement:
One of the responsibilities of the National Enforcement Unit, Ministry of Economic Development (NEU) is to assess and investigate candidates for prohibition under Section 385 of the Companies Act 1993.
That is, directors and managers of companies which have failed in the last five years due, at least in part, to mismanagement may be prohibited. The NEU prepares a report on the candidate and makes a recommendation to the Registrar of Companies.
For more go to: http://www.companies.govt.nz/cms/customer-support/news-and-public-notices/whats-new/regular-maintenance-window-to-change
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