by ML Law | May 26, 2022 | Uncategorized
TRUSTS ACT 2019 – AN OVERVIEW Background There have been significant changes recently to trust law in New Zealand. The Trusts Act 2019 was passed on 30 July 2019 and replaces the prior governing pieces of legislation, being the Trustee Act 1956 and the Perpetuities...
by MLLAW | Jul 29, 2021 | Uncategorized
Shareholder’s Agreement A shareholders agreement should be seriously considered where there is more than one shareholder in a company. Resolving a dispute or exiting the company could become a very expensive and lengthy exercise without one. What is a...
by MLLAW | Jul 29, 2021 | Uncategorized
Do your terms of trade protect you? Here is a list of questions to get you thinking. Approach Who is your customer buying from? Make sure your company name is correct, believe it or not this is a common error. Do you offer quotes or estimates? Make it clear as to what...
by MLLAW | Jul 29, 2021 | Uncategorized
Setting Up Business in New Zealand Preliminary New Zealand has a population of around 4.7 million people. Auckland (situated in the North Island) has a population of around 1.6 million people and is growing at the rate of around 40,000 people per annum. At the time...
by MLLAW | Jul 29, 2021 | Uncategorized
New Residential Land Tax Rules The government has announced that it will shortly introduce a new bright-line test for the taxation of the sale of residential property. The new bright-line test will require income tax to be paid on residential land sold within two...
by MLLAW | Jul 29, 2021 | Uncategorized
Why have a Trust? If you are looking at going into business there are a number of good reasons why you may want to establish a family trust to hold your personal assets. There is a cost to setting up a trust and ongoing administrative requirements so it is important...
by MLLAW | Jul 29, 2021 | Uncategorized
Lease Checklist Term / Renewal Term Shorter with rights of renewal will be more attractive to franchisees Other ongoing payments What other payments are due under the Lease? Marketing contribution; Percentage rent. Use of Premises Keep as general as possible to allow...
by MLLAW | Jul 29, 2021 | Uncategorized
Bank Guarantees A bank guarantee is an agreement by a bank to pay a certain sum to the landlord on demand from that landlord when the tenant is in arrears under the lease. The bank does not have to check with the tenant whether or not it should make payment. The...
by MLLAW | Jul 29, 2021 | Uncategorized
Agreement to Lease Checklist Tenant entity Who is going to be the tenant? Think about incorporating a separate tenant entity per lease (to contain liability). Make sure the tenant company is incorporated prior to execution or the person signing will incur personal...
by MLLAW | Jul 29, 2021 | Uncategorized
The Cancellation of a Lease, Sublease or Licence Strictly follow the previsions of the Property Law Act 2007 (PLA) This is of critical importance. The ramifications for a tenant in terms of losing their business/livelihood can be significant as a result of a...
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