Plain language law

New Zealand law explained for everyone

Companies Act 1993

Disclosure by companies - Inspection of company records

216: Inspection of company records by shareholders

You could also call this:

“Shareholders can view specific company records upon written request”

You have the right to look at certain company records if you own shares in the company. To do this, you need to write to the company saying you want to look at the records. You can also let someone else look at the records for you if you give them written permission.

The records you can look at include:

  1. Notes from all shareholder meetings and decisions made by shareholders
  2. Copies of messages sent to all shareholders or to all shareholders who own a certain type of share in the last 10 years. This includes yearly reports, financial statements, short versions of financial statements (if there are any), and group financial statements
  3. Certificates that the company directors have given under this law
  4. The company’s register of interests

The company must let you see these records in the way described in section 217.

If the company doesn’t let you see these records when you ask, they’re breaking the law. The company can be fined as described in section 373(2). Also, each director of the company can be fined as 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=DLM321137.

Topics:
Business > Industry rules
Business > Fair trading
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Part 12 Disclosure by companies
Inspection of company records

216Inspection of company records by shareholders

  1. In addition to the records available for public inspection, a company must keep the following records available for inspection in the manner prescribed in section 217 by a shareholder of the company, or by a person authorised in writing by a shareholder for the purpose, who serves written notice of intention to inspect on the company:

  2. minutes of all meetings and resolutions of shareholders:
    1. copies of written communications to all shareholders or to all holders of a class of shares during the preceding 10 years, including annual reports, financial statements, summary financial statements (if any), and group financial statements:
      1. certificates given by directors under this Act:
        1. the interests register of the company.

          1. If a company fails to comply with subsection (1),—

          2. the company commits an offence and is liable on conviction to the penalty set out in section 373(2); and
            1. every director of a company commits an offence and is liable on conviction to the penalty set out in section 374(2).

              Notes
              • Section 216(1)(b): amended, on , by section 14 of the Companies Amendment Act (No 2) 2004 (2004 No 24).