29 Apr 2015
SATTERTHWAITE v GOUGH HOLDINGS LTD [2015] NZCA 130
- Citation
- [2015] NZCA 130
- Court
- Court of Appeal
The phrase 'no person shall be appointed' in cl 3(c) of the third schedule refers to the act of appointment (the time of appointment), not a continuing status; dictionaries and the Companies Act usage support the ordinary meaning, internal and external context do not justify a strained 'term of appointment' reading, and the 'term' reading would produce unworkable governance consequences; accordingly the High Court declaration was set aside and the appeal allowed.