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As a business travels through its existence, it will accumulate a number of key documents.   Amongst these is often found a shareholders’ agreement. Much as the name suggests, a shareholders’ agreement serves to regulate the relationship between shareholders, and between the company and its shareholders.

Usually, when a director employee goes about performing his or her duties, they can rely on the
limited liability nature of the company of which they are a director or employee to protect them
from personal liability.

There is a recognition within the Companies Act 1993 (“the Act”) that the rules it creates may not be wholly suitable for every company which conducts its business in New Zealand.