Support for Kiwi companies facing insolvency as a result of COVID-19

The Government's introducing legislation to make changes to the Companies Act, to help firms remain viable and keep New Zealanders in jobs.

Temporary changes include giving directors of companies facing liquidity a safe harbour, enabling affected businesses to place existing debts into hibernation, and allowing the use of electronic signatures.

They've also extended the deadlines for company meetings and annual returns.

Finance Minister Grant Robertson says the measures will cushion the economic impact on businesses.