Legislation/In Parliament

Commerce Committee reports back on the Business Law Reform Bill
The Business Law Reform Bill has been reported back to the House by the Commerce Committee. The Bill includes amendments to the Companies Act 1993 and the Financial Reporting Act 1993. It also consequentially amends the Corporations (Investigation and Management) Act 1989, the Reserve Bank of New Zealand Act and the Securities Markets Act 1988.

Securities Commission releases third review of financial reports
The Securities Commission has completed the third cycle of its financial reporting surveillance programme. The reviews aim to encourage issuers to improve the quality of their financial reports and thus contribute to the integrity of New Zealand's securities markets.

Draft regulations regarding mutual recognition of securities offerings released
Commerce Minister Lianne Dalziel has released draft regulations to implement the next step in co-ordinating business law in New Zealand and Australia.

New maximum priority amounts for preferential claims by creditors
The maximum priority amount that applies to certain preferential claims by creditors of a company in liquidation or by creditors of a bankrupt person, has been increased.

Final discussion document released on proposals to prevent money laundering and terrorist financing
Associate Justice Minister Clayton Cosgrove has released the third and final discussion document on proposals to prevent money laundering and terrorist financing.

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