Section 16 — Companies Act 1993: Capacity and powers

16 Capacity and powers (1) Subject to this Act, any other enactment, and the general law, a company has, both within and outside New Zealand,— (a) Full capacity to carry on or undertake any business or activity, do any act, or enter into any transaction; and (b) For the purposes of paragraph (a) of this subsection, full rights, powers, and privileges. (2) The constitution of a company may contain a provision relating to the capacity, rights, powers, or privileges of the company only if the provision restricts the capacity of the company or those rights, powers, and privileges.