Balancing directors' safety and accountability is the goal of the Commerce Minister's shake up of the Companies Act. 

Andrew Bayly is looking to make it harder to "phoenix", in which assets are transferred from indebted companies to new ones, leaving the former to face insolvency.  

He says they want to make it easier to catch directors doing the wrong thing, which will be done by assigning every director a unique digital number.

Another measure is allowing directors to take their home addresses off the companies register. 

Andrew Bayly says there's a perception of risk, especially among female directors, and they will instead be able to list a more work-related address such as an office, or a related entity like a lawyer or an accountant.

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Balancing directors' safety and accountability is the goal of the Commerce Minister's shake up of the Companies Act.  
Andrew Bayly is looking to make it harder to "phoenix", in which assets are transferred from indebted companies to new ones, leaving the former to face insolvency.   
He says they want to make it easier to catch directors doing the wrong thing, which will be done by assigning every director a unique digital number. 
Another measure is allowing directors to take their home addresses off the companies register.  
Andrew Bayly says there's a perception of risk, especially among female directors, and they will instead be able to list a more work-related address such as an office, or a related entity like a lawyer or an accountant. 
LISTEN ABOVE

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

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