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Companies Act 1993

Disclosure by companies - Disclosure to shareholders

209B: Annual report and concise annual report made available by electronic means

You could also call this:

“Company must keep annual reports easily accessible online”

If the company’s board sends you a notice about the annual report, they need to make sure you can easily access it online. They have to keep it available from when they send the notice until they prepare the next year’s report. The way they make it available should let you easily find and use it later if you need to.

If the board tells you they’ve made a shorter version of the annual report (called a concise annual report), they need to do the same thing. They have to make sure you can easily access this shorter report online from when they send the notice until they prepare the next year’s report.

The board has to make sure the way they provide these reports online is easy for you to use and find again later.

If the board doesn’t do these things, each director of the company is breaking the law. They could be found guilty of an offence and face a punishment that’s described 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=DLM321113.

Topics:
Business > Industry rules
Business > Fair trading
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209A: Board must send copy of annual report or concise annual report on request, or

“Board must provide annual report to shareholders upon request”

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209C: Alternative obligations for FMC reporting entities, or

“Different reporting rules for companies that deal with financial markets”

Part 12 Disclosure by companies
Disclosure to shareholders

209BAnnual report and concise annual report made available by electronic means

  1. If the board of a company has sent a notice to a shareholder under section 209(1)(b), the board must ensure that—

  2. a copy of the annual report is available in the manner described in the notice under section 209(3)(c) at all reasonable times during the period beginning on the date the notice is sent and ending on the date the board acts under section 209(1) in relation to the next accounting period; and
    1. the manner described in the notice under section 209(3)(c) allows a copy of the annual report to be readily accessible so as to be usable for subsequent reference.

      1. If the board of a company has sent a notice to a shareholder under section 209(1)(b) and that notice states that the board has prepared a concise annual report, the board must—

      2. ensure that a copy of the concise annual report is available in the manner described in the notice under section 209(3)(d)(iii) at all reasonable times during the period beginning on the date the notice is sent and ending on the date the board acts under section 209(1) in relation to the next accounting period; and
        1. ensure that the manner described in the notice under section 209(3)(d)(iii) allows a copy of the concise annual report to be readily accessible so as to be usable for subsequent reference.

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

          Notes
          • Section 209B: inserted, on , by section 7 of the Companies Amendment Act (No 2) 2006 (2006 No 62).