November 2023
Incorporated societies: Key changes and compliance
With approximately 24,000 incorporated societies in New Zealand, ranging from substantial business-like entities to modest sporting clubs, the Incorporated Societies Act 2022 ("New Act") influence is far-reaching. Regardless of size, all incorporated societies will be affected, so it is crucial to understand and prepare for the implications of the New Act to avoid potential consequences for non-compliance.
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Second-Tier Lending: Understanding the Fine Print
In today's financial landscape, banks are tightening their lending requirements, prompting many buyers to explore alternative options like second-tier lending. Mezzanine financers and other last-resort money lenders can provide vital financial support, but it's crucial to approach these agreements with caution and a clear understanding of the fine print. After all, surprises are for birthdays, not loan agreements!
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Medical incapacity of an employee
Medical incapacity of an employee is a challenge that demands a delicate balance between empathy and practicality. Determining when to draw the line on a long-term illness and how long to keep a job open for a sick employee is a challenging task shaped by case law intricacies. Employers are not expected to hold a position indefinitely but they must follow a fair process before terminating an employee’s employment.
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