Keep informed with this useful information from our team.
The Companies Act specifies the duties owed by the directors. In some cases, these duties are owed to the company (and so are only enforceable by the company or a receiver or liquidator of a company) and in some instances, the duties are owed to shareholders.
All employers have duties to their employees under law. The overriding principle for all employment relationships is that of ‘good faith’. Both employers and employees must act in good faith towards each other. That means you must not undermine the other party but show trust and confidence in them. It also means you must work at forming and keeping a productive employment relationship. Parties to an employment relationship are meant to communicate well with each other.
Every business has customers. This article will briefly outline the most important of the laws regulating your relationship with them and provide some tips on how to ensure you comply.
Consumer Guarantees Act 1993
Competitors provide a constant challenge for most businesses. Healthy competition is an essential part of a modern free enterprise system. However, competition can also lead to unfair business practices and be prejudicial to the interests of consumers and society as a whole.
To avoid these problems, a number of business laws are designed to promote healthy competition and prevent the misuse of market dominance. The Commerce Act is the most important piece of legislation governing competition in New Zealand.
Everyone who is in business needs to be aware of the Commerce Act’s requirements. You also have a commercial interest in ensuring that your competitors comply with the Act.
