Plain language law

New Zealand law explained for everyone

207N: Consultation
or “The Registrar may consult others when making decisions about exemptions”

You could also call this:

“Exemptions can cover past accounting periods if granted before financial statements are due”

If the Registrar thinks it’s appropriate, they can give you an exemption that applies to an accounting period that started before the exemption was granted. This can even include an accounting period that ended before the exemption was granted. However, this is only possible if the exemption is given before you need to hand in your financial statements or group financial statements for that period. The Registrar can do this under section 207L. You need to hand in these statements under section 207E.

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Next up: 207P: Auditor must be appointed if financial statements must be audited

or “You must appoint an auditor if your company's financial statements need to be checked”

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Companies Act 1993
Accounting records and financial reporting
Registrar may grant exemptions to overseas companies
207O: Exemption may apply to accounting period before exemption is granted

Part 11 Accounting records and financial reporting
Financial reporting: Registrar may grant exemptions to overseas companies

207OExemption may apply to accounting period before exemption is granted

An exemption under section 207L may, if the Registrar thinks fit, apply to an accounting period that commenced before the exemption is granted (including an accounting period that ended before the exemption is granted) if the exemption is granted before financial statements or group financial statements for that period are required to be delivered for registration under section 207E.

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