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Corporate Governance Handbook Available

News release
5 April 2004

Corporate Governance Handbook Available

The Securities Commission today released a handbook on its corporate governance principles.

The handbook is a shortened version of the Commission’s report “Corporate Governance in New Zealand, Principles and Guidelines”, published in February. The full report includes information on the consultation undertaken and feedback received by the Commission.

The handbook aims to help directors, executives and advisers apply the nine principles to their entities. Each principle is accompanied by guidelines and commentary.

“These corporate governance principles were developed after extensive public consultation,” says Commission Chairman, Jane Diplock. “They are intended for use by a broad range of entities, to help them achieve high standards of corporate governance.”

The corporate governance principles do not involve any new legal obligations for issuers of securities and do not impose a dual reporting regime for listed issuers. However, the Commission believes listed issuers as well as other entities should examine their corporate governance practices to ensure that all the principles are addressed by their company, and reported on.

The handbook will be distributed widely. Copies are available from the Securities Commission (phone 472 9830), or from the Commission’s website:
http://www.sec-com.govt.nz/publications/documents/governance-principles/handbook.shtml

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