Update on COVID-19-related business relief measures

Published: 20 October 2020

Some of the temporary COVID-19-related relief measures introduced by the Government earlier this year have been extended, while others are no longer available or are soon to expire.

  • Powers and exemptions to help businesses cope with the disruption caused by COVID-19: still available – extended to May 2021
  • Business debt hibernation: still available to December 2020 – decision on extension pending
  • ‘Safe harbour’ for company directors from their insolvency-related duties under the Companies Act: expired 30 September 2020

The Government introduced these changes to respond to the impacts of COVID-19 and support businesses through financial difficulty. With all of New Zealand now at Alert Level 1, some of this support is no longer required and directors’ insolvency-related duties under the Companies Act have resumed.

More information about the status of these business relief measures on the Companies Office website(external link)

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