Corporate personality

John Farrar

Research output: Chapter in Book/Report/Conference proceedingChapterResearchpeer-review


Extract: Section 15 of the Companies Act 1993 provides that a company is a legal entity in its own right, separate from its shareholders, and continues in existence until its removal from the New Zealand Register. Thus a company, once registered, is regarded as a legal person. This is an attribution by the law of fictitious personality to a group of persons providing a fund of capital. This fiction has considerable consequences for rights and duties. It serves a useful economic purpose of facilitating the pooling of investment capital but simplifies legal relations at the expense of common sense and social reality. This creates tensions which need from time to time to be resolved as a matter of justice.
Original languageEnglish
Title of host publicationCompany and Securities Law in New Zealand
EditorsJohn Farrar, Lynne Taylor
Place of PublicationWellington
Number of pages19
ISBN (Print)9780864726179
Publication statusPublished - 2008


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