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Bringing the Adoption Act into modern times

The New Zealand Adoption Act 1955 (“the Act”) has been widely viewed as being in need of an overhaul to bring it up to date with the modern times. In 2016 the Human Rights Review Tribunal ruled that sections of the Act were discriminatory and outdated. This article will take a closer look at the specifics of the Act that are not in keeping with today’s New Zealand. Surrogacy - The Act sees the natural mother (the woman who births the...

Purchasing a property at auction-what you need to know

When purchasing a property, there are generally two ways in which you can achieve this. The first, the traditional offer method, is by offer and acceptance of a signed Agreement for Sale and Purchase between the vendor (seller) and purchaser (buyer) of a property. The terms of the Agreement for Sale and Purchase can be negotiated between the parties, whether through a real estate agent or a private sale. These types of agreements, can contain terms, known as special conditions to...

Types of trusts and their benefits

There are many types of trusts that can be tailored to achieve a specific purpose. The general purpose of a trust is to protect your assets and provide for desired succession planning for future generations. A trust is created by a trust deed whereby a person (the settlor) transfers property to the trustees of the trust. The trustees control the property in accordance with the trust deed for the benefit of the beneficiaries (which can include the settlor). This article focuses...

Bramwell Bate News

Snippets

How many directors need to sign? Signing documents that bind a company to obligations and potential liability is a key aspect of being a director of a company. It is part of the role when a director is guiding and running the company. While shareholders are required to ratify major transactions and key decisions, day to day, the directors are in control. They can delegate duties to CEOs and managers but ultimately have responsibility for directing and overseeing what the company employees...

Sole Trader and Limited Liability Company-liability compared

A sole trader is a common ownership structure that can be used to operate a small business. The main operator of the business may be one person, supported by a family member such as a spouse. Operating a business may be risky if the right asset protection and insurance is not in place to support the sole operator. The extent of their liability is that they are personally liable for any business debt or loss, including taxes. For debt owing to...

Overview of the new gun law changes

Following the Christchurch Terror Attack of March 15th 2019 changes to the gun laws in New Zealand have been made. The Arms (Prohibited Firearms, Magazines, and Parts) Amendment Bill came into force on 12th April 2019; which was rather swiftly by legislative standards. The aim of the Bill is to tighten gun control in New Zealand by amending the Arms Act 1983. The most significant change the Bill makes is prohibiting semi-automatic firearms, magazines, and parts that can be used to...

What to know when building a house with a building company

Building a house can be a stressful, expensive and intimidating prospect for both new and experienced customers. As such, ensuring you are aware of not only your rights and obligations, but also those of the builder, is crucial. Prior to even hiring a builder, you should complete your own due diligence on: the builder, your financial position, the requirements of your lender during the build (if any), what consents are required and when they should be applied for, whether the building...

Anti-money laundering overview

The government has recently made changes to the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the “Act”) to prevent money laundering and terrorism financing within various businesses and professions (including lawyers, accountants and real estate agents). The Act aims to enhance the reputation of New Zealand businesses and maintain the view that New Zealand is a safe place to run a business. Money laundering is the process of disguising the origins of illegally obtained money. Financing of terrorism is where...