New Zealand Company
The New Zealand Company, chartered in the United Kingdom, was a company that existed in the first half of the 1800s on a business model focused on the systematic colonisation of New Zealand. The company was formed to carry out the principles devised by Edward Gibbon Wakefield, who envisaged the creation of a new-model English society in the southern hemisphere. Under Wakefield’s model, the colony would attract capitalists who would then have a ready supply of labour—migrant labourers who could not initially afford to be property owners, but who would have the expectation of one day buying land with their savings.
Colony of New Zealand
Initially, New Zealand was part of the Colony of New South Wales, and Lieutenant-Governor Hobson was answerable to his superior, the Governor of New South Wales. By letters patent, the British government issued the "Charter for Erecting the Colony of New Zealand" on 16 November 1840. The Charter stated that the Colony of New Zealand would be established as a Crown colony separate from New South Wales on 1 July 1841.