ABSTRACT
New Zealand’s legal system was derived from the English common law system. The Treaty of Waitangi, signed by the English Crown and Maori in 1840, led to the imposition of English law into New Zealand. The New Zealand Securities Commission was established under Part I of the Securities Act 1978. In essence, the Companies Act is intended to facilitate the economic development of the New Zealand economy while providing shareholders with protection by the inclusion of significant remedies for shareholders. The New Zealand courts have a tradition of using a purposive approach when construing legislation. The Law Commission rejected both the Australian and the English approaches as inappropriate models for New Zealand company law. The three main regulators of corporate bodies in New Zealand are the registrar of companies, the New Zealand Securities Commission and the New Zealand stock exchange.
