As we’ve previously advised and written on; a significant overhaul of New Zealand’s Incorporated Societies legislation is currently underway.
If you are involved in one of New Zealand’s estimated 23,000+ incorporated societies then this will impact you. The changes for some incorporated societies will be significant and all will have to make some changes to their governing documents, operating procedures, and administration processes.
The Law Commission performed a comprehensive review on the 1908 Act between 2010 and 2013. Their resulting report to Government clearly noted the need for a significant refresh of the legislation. Significantly their report highlighted that the 1908 Act is silent on many important aspects of governance and administration of an incorporated society. After considering the Law Commission’s report the Government has developed a draft bill which has now been released for public comment and consultation.
The Government Bill and an accompanying request for submissions may be found at: http://www.mbie.govt.nz/info-services/business/business-law/incorporated-societies
The closing date for submissions is 30 June 2016.
RSM will be providing further analysis and comment on what this proposed legislative overhaul will mean for New Zealand incorporated societies.
You may wish to also refer to some of our past insights into this overhaul: