Section 195 — Companies Act 1993: Place accounting records to be kept

195 Place accounting records to be kept (1) A company need not keep its accounting records in New Zealand. (2) If the records are not kept in New Zealand,— (a) The company must ensure that accounts and returns for the operations of the company that— (i) Disclose with reasonable accuracy the financial position of the company at intervals not exceeding 6 months; and (ii) Will enable the preparation in accordance with the Financial Reporting Act 1993 of the company's financial statements and any group financial statements and any other document required by this Act— are sent to, and kept at, a place in New Zealand; and (b) Notice of the place where— (i) The accounting records; and (ii) The accounts and returns required under paragraph (a) of this subsection— are kept, must be given to the Registrar. (3) If a company fails to comply with subsection (2) of this section,— (a) The company commits an offence and is liable on conviction to the penalty set out in section 373(2) of this Act: (b) Every director of the company commits an offence and is liable on conviction to the penalty set out in section 374(2) of this Act. Compare: 1955 No 63 s 151; 1980 No 43 s 7(1)