Plain language law

New Zealand law explained for everyone

Companies Act 1993

Registrar of Companies - Registrar's powers to identify controllers of company

365A: Purpose of sections 365B to 365H

You could also call this:

“Explaining why and how the Registrar can obtain company ownership information”

The law lets the Registrar get information about who really owns and controls companies. This is done for law enforcement reasons. The Registrar needs to get good, up-to-date information quickly to follow rules set by an international group.

This international group is called the Financial Action Task Force on Money Laundering. It was started in Paris in 1989. The group made some new rules in February 2012. These rules are what New Zealand is trying to follow with this law.

You can find more details about how the Registrar can get this information in sections 365B to 365H of this law.

This text is automatically generated. It might be out of date or be missing some parts. Find out more about how we do this.

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6462545.

Topics:
Business > Industry rules
Business > Fair trading
Crime and justice > Criminal law
Previous

365: Registrar's powers of inspection, or

“How the Registrar can check company information and compliance”

Next

365B: Control interests in shares (basic rule), or

“Understanding when you have control over a company's shares”

Part 20 Registrar of Companies
Registrar's powers to identify controllers of company

365APurpose of sections 365B to 365H

  1. The purpose of sections 365B to 365H is to ensure that the Registrar may, for law enforcement purposes, obtain adequate, accurate, and timely information on the beneficial ownership and control of companies in order to conform with New Zealand's obligations under the FATF Recommendations.

  2. In this section,—

    FATF means the Financial Action Task Force on Money Laundering established in Paris in 1989

      FATF Recommendations means the revised Recommendations adopted by FATF at its plenary meeting on 15 to 17 February 2012.

      Notes
      • Section 365A: inserted, on , by section 48 of the Companies Amendment Act 2014 (2014 No 46).