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Sale and Supply of Alcohol Act 2012

Sale and supply of alcohol generally - Licensing generally, requirements on licensees, and conditions - Miscellaneous licensing provisions

69: Notification of licensing authority by company of changes in company shareholding or name

You could also call this:

“Tell the licensing authority if your alcohol-licensed company's owners or name change”

If you have a company with a licence to sell alcohol, you must tell the licensing authority if something changes. You need to tell them if someone new owns a big part of your company or if the people in charge of your company change. You have to do this within 10 working days of the change happening.

If your company’s name changes, you must also tell the licensing authority within 10 working days. If you do not tell them, the people in charge of your company can get in trouble and have to pay a fine of up to $10,000.

A stock exchange is like a place where people buy and sell parts of companies, and it has the same meaning as in section 2(1) of the Companies Act 1993. But if you can prove you did everything you could to follow the rules, you might not get in trouble. You can do this by showing you took all the right steps to make sure your company followed the rules.

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This page was last updated on

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM3339551.

Topics:
Money and consumer rights > Consumer protection Business > Industry rules
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68: Licensees and managers to have address for service, or

"People selling alcohol must give an address where they can get important papers."

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70: Notification of licensing authority by beneficial owner of shares of changes in shareholding, or

"Tell the licensing authority if you buy or sell shares in an alcohol-licensed company"

Part 2 Sale and supply of alcohol generally
Licensing generally, requirements on licensees, and conditions: Miscellaneous licensing provisions

69Notification of licensing authority by company of changes in company shareholding or name

  1. A company that holds a licence and is not a party to a listing agreement with a stock exchange must notify the secretary of the licensing authority of any change in—

  2. the shareholding of the company; or
    1. the directors of the company.

      1. A company that holds a licence and is a party to a listing agreement with a stock exchange must notify the secretary of the licensing authority of any change in—

      2. the shareholding of the company whereby any person becomes the holder of at least 20% of the shares, or of any particular class of the shares, issued by the company, if that person did not hold at least 20% of the shares or of that class of the shares when the licence was issued to the company; and
        1. the directors of the company.

          1. Any notice required by subsection (1) or (2) must be given within 10 working days after the board of the company becomes aware of the change to which it relates.

          2. Where a company that holds a licence changes its name, it must notify the secretary of the licensing authority of the change within 10 working days after the change.

          3. If a company fails to comply with any of subsections (1) to (4), every director of the company commits an offence and is liable on conviction to a fine not exceeding $10,000.

          4. It is a defence to a director charged with an offence against this section relating to a failure to comply with one of its provisions if he or she proves that—

          5. the company took all reasonable and proper steps to ensure that the provision concerned would be complied with; or
            1. he or she took all reasonable and proper steps to ensure that the company complied with the provision; or
              1. in the circumstances he or she could not reasonably have been expected to take steps to ensure that the company complied with the provision.

                1. In this section, stock exchange has the same meaning as in section 2(1) of the Companies Act 1993.

                Compare
                Notes
                • Section 69(7): inserted, on , by section 150 of the Financial Markets (Repeals and Amendments) Act 2013 (2013 No 70).