Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Discussion Paper - Retirement Villages


23 May 2000

NEWS RELEASE

Discussion Paper - Retirement Villages

The Securities Commission has released a brief discussion paper on the way the Securities Act 1978 applies to offers to the public of interests in resident funded retirement villages.

At present there is uncertainty as to whether the compliance provisions in Part II of the Act apply to all of these offers. The Commission regards it as undesirable that this uncertainty should continue.

As an interim measure, the paper proposes an amendment to the law to empower the Government by regulation to make these offers subject to the disclosure and supervisory provisions of Part II of the Securities Act, in circumstances where they are not currently subject to these provisions.

The Commission also believes it is now timely for the Government to consider the recommendations of the Law Commission that all retirement village schemes should be made subject to the same rules of law.

Comment is invited on the proposal for a new regulatory power and should be made to the Commission, P O Box 1179, Wellington, by 12 July 2000.

The discussion paper can be viewed and printed from our web site www.sec-com.govt.nz. Take the direct link from the home page.


Further information:

Catherine Chapman
Communications Manager

Phone (04) 471 7659

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>