Plain language law

New Zealand law explained for everyone

Companies Act 1993

Administration of companies - Company records

190: Form of records

You could also call this:

“How companies must keep and protect their records”

When you have a company, you need to keep records. These records can be in two forms. You can write them down on paper, or you can store them in a way that’s easy to find and turn into writing when needed.

The people in charge of the company (called the board) have to make sure the records are safe. They need to stop anyone from changing the records to make them false. They also need to be able to spot if someone has made the records false.

If the board doesn’t keep the records safe like this, each person on the board is breaking the law. They could get in trouble and face a punishment. The punishment for this is written in section 374(2) of the law.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM320865.

Topics:
Business > Industry rules
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189: Company records, or

“Required records that companies must keep and where to keep them”

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191: Inspection of records by directors, or

“Directors can inspect company records, with some exceptions”

Part 10 Administration of companies
Company records

190Form of records

  1. The records of a company must be kept—

  2. in written form; or
    1. in a form or in a manner that allows the documents and information that comprise the records to be easily accessible and convertible into written form.

      1. The board must ensure that adequate measures exist to—

      2. prevent the records being falsified; and
        1. detect any falsification of them.

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

          Compare
          • 1955 No 63 s 459(2)