Part 6Shares and debentures
Issue of shares
42Issue of other shares
Subject to this Act and the constitution of the company, the board of a company may issue shares at any time, to any person, and in any number it thinks fit.
Companies Act 1993
Shares and debentures - Issue of shares
42: Issue of other shares
"Company boards can issue shares as they see fit, following legal and company rules"
The board of a company can give out shares whenever they want. They can give them to anyone they choose, and they can give out as many as they think is right. But they have to follow the rules in this law and the company's own rules when they do this.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM320156.