Document background
The Simple Stock Purchase Agreement Between Shareholders is a fundamental document used when one shareholder wishes to sell their shares directly to another shareholder in a New Zealand company. This document is particularly relevant for private companies where shares are not traded on public markets. It ensures compliance with New Zealand's Companies Act 1993 and other relevant legislation, while providing a clear framework for the transaction. The agreement is typically used in situations where shareholders' agreements permit direct transfers, and it includes essential elements such as share valuation, payment terms, warranties, and completion requirements. It's designed to be straightforward while still providing adequate protection for both parties and ensuring proper documentation of the share transfer for company records and regulatory compliance.
