Companies Act 1993

Shares and debentures - Issue of shares

43: Notice of share issue

You could also call this:

“Telling the Registrar when new shares are issued”

When a company issues new shares, the board must tell the Registrar about it. You need to do this within 10 working days of issuing the shares. This applies to shares issued under [section 41(b)], [section 42], or [section 107(2)]. You have to use a special form to notify the Registrar.

If the board doesn’t tell the Registrar about the new shares in time, each director of the company is breaking the law. They could be found guilty of an offence. The punishment for this is set out in [section 374(2)].

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM320157.

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“Company boards can issue shares as they see fit, following legal and company rules”


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Part 6 Shares and debentures
Issue of shares

43Notice of share issue

  1. The board of a company must deliver to the Registrar for registration, within 10 working days of the issue of shares under section 41(b) or section 42 or section 107(2), a notice in the prescribed form of the issue of the shares by the company.

  2. If the board of a company fails to comply with subsection (1), every director of the company commits an offence and is liable on conviction to the penalty set out in section 374(2).

Notes
  • Section 43(1): amended, on , by section 3 of the Companies Act 1993 Amendment Act 1997 (1997 No 27).