--- title: INSOLVENCY RELIEF FOR NZ BUSINESSES IMPACTED BY COVID-19 description: "Urgent law changes to the Companies Act seek to give company directors temporary relief from potential personal liability when the business faces significant liquidity problems.\n\nThe measures aim to keep businesses trading and New Zealanders in jobs by preventing businesses being prematurely placed in administration or liquidation. \n\nThe temporary changes include:\n\ngiving directors of companies facing significant liquidity problems because of COVID-19 a ‘safe harbour’ from insolvency duties under the Companies Act.\nenabling businesses affected by COVID-19 to place existing debts into hibernation until they are able to start trading normally again\nallowing the use of electronic signatures where necessary due to COVID-19 restrictions.\ngiving the Registrar of Companies the power to temporarily extend deadlines imposed on companies, incorporated societies, charitable trusts and other entities under legislation.\ngiving temporary relief for entities that are unable to comply with requirements in their constitutions or rules because of COVID-19.\nThe changes will not cover serious breaches of duty. \n\nThe law change will be retrospective. Further details on how to access the relief package and the eligibility requirements are being finalised. \n\nTalk to us about your business. We are here to help.\n\nClick below to view the Companies Office website:\n\nhttps://www.companiesoffice.govt.nz/about-us/what-we-do/insolvency-relief-for-businesses-impacted-by-covid-19/" image: https://balanceca.nz/hubfs/covid-19_insolvancy.png --- [![Ecom](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/Logo_1.png)](https://balanceca.nz/) - [Home](https://balanceca.nz/) [![Ecom](https://balanceca.nz/hs-fs/hubfs/raw_assets/public/codfina/images/image_web/startup.png?width=60&name=startup.png) Start-ups](https://balanceca.nz/start-ups) [![Established](https://balanceca.nz/hs-fs/hubfs/raw_assets/public/codfina/images/image_web/establishedbusinesses.png?width=60&name=establishedbusinesses.png) Established Businesses](https://balanceca.nz/established-businesses) [![Agricultural](https://balanceca.nz/hs-fs/hubfs/raw_assets/public/codfina/images/image_web/agriculturalbusinesses.png?width=60&name=agriculturalbusinesses.png) Agricultural Businesses](https://balanceca.nz/agricultural-businesses) - [About](https://balanceca.nz/about-us) - [Services](https://balanceca.nz/services) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_1.png) Annual Accounting & Tax Services](https://balanceca.nz/services#nav_f4) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_2.png) Business Support Services](https://balanceca.nz/services#nav_f4) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_3.png) Business Development](https://balanceca.nz/services#nav_f4) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_4.png) Business Planning](https://balanceca.nz/services#nav_m4) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_5.png) Cashflow Management](https://balanceca.nz/services#nav_m4) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_6.png) Accountability Coaching](https://balanceca.nz/services#nav_m4) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_7.png) Succession Planning](https://balanceca.nz/services#nav_m4) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services_8.png) Organisational Review](https://balanceca.nz/services#nav_b3) [![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services%20icon-9.png) Governance](https://balanceca.nz/services#nav_b3) [![](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/services-10-01.png) Specialist Māori Sector Services](https://balanceca.nz/services#nav_f4) [![](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/11_Connections.png) Connections](https://balanceca.nz/services#nav_b3) # BALANCE Take control of your finances with BalanceCA, your trusted partner for all your accounting and financial needs. 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The measures aim to keep businesses trading and New Zealanders in jobs by preventing businesses being prematurely placed in administration or liquidation.  The temporary changes include: - giving directors of companies facing significant liquidity problems because of COVID-19 a ‘safe harbour’ from insolvency duties under the Companies Act. - enabling businesses affected by COVID-19 to place existing debts into hibernation until they are able to start trading normally again - allowing the use of electronic signatures where necessary due to COVID-19 restrictions. - giving the Registrar of Companies the power to temporarily extend deadlines imposed on companies, incorporated societies, charitable trusts and other entities under legislation. - giving temporary relief for entities that are unable to comply with requirements in their constitutions or rules because of COVID-19. The changes will not cover serious breaches of duty.  The law change will be retrospective. Further details on how to access the relief package and the eligibility requirements are being finalised.  Talk to us about your business. We are here to help. Click below to view the Companies Office website: [https://www.companiesoffice.govt.nz/about-us/what-we-do/insolvency-relief-for-businesses-impacted-by-covid-19/](https://web.archive.org/web/20230129002609/https://www.companiesoffice.govt.nz/about-us/what-we-do/insolvency-relief-for-businesses-impacted-by-covid-19/) ![image](https://balanceca.nz/hubfs/raw_assets/public/codfina/images/image_web/Logo_1.png) ##### Balance Whanganui - [0800 480 062](tel:+640800480062) [06 348 0062](tel:+64063480062) - [whanganui@balanceca.nz](mailto:whanganui@balanceca.nz) - 10 Dublin Street, Whanganui, 4500 PO Box 670, Whanganui, 4540 ##### Balance New Plymouth - [06 769 5389](tel:+64067695389) - [newplymouth@balanceca.nz](mailto:newplymouth@balanceca.nz) - 141 Powderham Street PO Box 593, New Plymouth Central, New Plymouth 4310 ##### Balance Stratford - [06 765 6156](tel:+64067656156) - [stratford@balanceca.nz](mailto:stratford@balanceca.nz) - 199 Broadway, Stratford, 4352 PO Box 670, Stratford, 4352 Balance Official 2026. 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