Work programme
Issues under active consideration by the Government Policy and Advocacy team include:
| Policy |
Stage of development |
Related documents |
|
The Companies and Limited Partnerships Amendment Bill
NZICA contact:
Paul Hocking
|
Submissions to Commerce Committee made on 6 September. Committee reported to Parliament on 11 December 2012 suggesting a reconsideration of the criminalisation of breaches of directors duties |
Companies and Limited Partnerships Amendment Bill
Submission to MBIE on follow-up consultation arising from Select Committee queries
Submission 6 September 2012
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Lobbying Disclosure Bill
NZICA contact:
Paul Hocking
|
Referred to Government Administration Committee on 25 July 2012. Submissions to Committee closed 5 October 2012.
Committee's report to Parliament due 26 July 2013.
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Lobbying Disclosure Bill
Submission 5 October 2012
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Considering and responding to the Law Commission’s proposals on trust law reforms
NZICA contact:
Kimberly McCay
|
The Law Commission has released a Preferred Approach Paper setting out the Commission's preferred options for trust law reform. Submissions to the Commission close on 22 February 2013.
Following this consultation, the Law Commission will prepare a final report and recommendations for government.
|
Law Commission's Review of the Law of Trusts
NZICA Overview Paper
Submission 20 February 2013
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Progressing limitation of professional liability law reform
NZICA contact:
Kimberly McCay
|
The Law Commission has released an Issues Paper on the revision of joint and several liability. Submissions closed on 31 January 2013.
Additionally the Ministry of Business, Innovation and Employment is considering proposals to allow audit firms to incorporate.
|
Law Commisssion's Review of Joint and Several Liability
Submission 15 February 2013
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Progressing an exemption for accountants under the Real Estate Agents Act 2008
NZICA contact:
Paul Hocking
|
Progressing an exemption for accountants under the Real Estate Agents Act.
Until such an exemption is achieved, members are reminded of their need to comply with the Act. There is an article on this topic in the May Chartered Accountants Journal.
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Real Estate Agents Act
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Implementation of the Anti-Money Laundering and Countering of Financing Terrorism Act
NZICA contact:
Kimberly McCay
|
A further set of regulations under the AML/CFT Act is proposed. Submission made on 1 August 2012 |
Consultation Paper
Submission
|
The team is also keeping a watching brief on the following issues:
| Policy |
Stage of development |
Related documents |
| Productivity Commission's inquiry into the services sector |
The Productivity Commission is undertaking an inquiry into NZ’s services sector with the aim of identifying opportunities to boost its productivity. A preliminary issues paper was published in April 2013 (submissions close 2 May).
The inquiry has two parts:
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An assessment of the productivity of different services industries, the impact of the services sector on the economy, and its performance compared to other countries. An interim report is due out in June 2013.
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A more in-depth assessment of several key issues or services areas accompanied by specific policy recommendations. An interim report is due out in October 2013.
The Commission’s final report to Government is due 28 February 2014
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Productivity Commission Inquiry into service sector |
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The Law Commission’s Review of the Incorporated Societies Act 1908
NZICA contact:
Kimberly McCay
|
Submissions on the Law Commission’s Issues Paper closed in October 2011. The Commission is working on its final report.
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Law Commission's Review of the Incorporated Societies Act
NZICA’s Technical Services Team has had discussions with the Law Commission about the work the External Reporting Board (XRB) is doing on proposed new accounting standards for not-for-profit organisations. View NZICA’s submission to the XRB.
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| The Law Commission's Issues Paper on Civil Pecuniary Penalties |
Civil pecuniary penalties are financial penalties used by enforcement agencies (including the Commerce Commission and the FMA) to punish breaches of law by individuals and companies. The Financial Markets Conduct Bill contains a number of these penalties. The Commission's paper suggests the more widespread resort to civil pecuniary penalties leads to a debate about when such penalties are desireabe, how they should be formualted and applied, and what safeguards should attend their use. Submissions to the Law Commission closed on 15 February 2013. NZICA will not be making a submission. Whilst NZICA agrees that policy-makers and legislators need to think carefully about when to use such penalties, the Issues Paper focuses on mostly legal procedural and evidential matters |
Law Commission's Issues Paper on Civil Pecuniary Penalties |
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Review of Privacy Laws
NZICA contact:
Kimberly McCay
|
The Government has announced that it will repeal and re-enact the Privacy Act following its review by the Law Commission.
The Ministry of Justice is reviewing the Commission’s recommendations.
|
Government Response
Law Commission's Review of Privacy Laws
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Work items on the horizon: