Legislation has been tightened to tackle the proliferation of dodgy shell companies registered by fake overseas entities. Commerce Minister Craig Foss said changes proposed by a select committee included requiring all New Zealand registered companies to have a director who lives in New Zealand or who lives in and is director of a company in a country with which New Zealand has reciprocal enforcement arrangements.
Source: The Dominion Post 12 December 2012, p. A2.
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