24 Jun 2014

Bill cracks down on shell companies

10:18 pm on 24 June 2014

Parliament has unanimously passed legislation cracking down on shell companies in New Zealand.

The bill requires all New Zealand-registered companies to have a local director or general partner, and gives new powers to the Companies Registrar to investigate companies and limited partnerships.

Commerce Minister Craig Foss said the legislation protects New Zealand's reputation as a trusted place to do business.