Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Securities Regulations Discussion Document

5 July, 2000 Media Statement
Securities Regulations Discussion Document


Commerce Minister Paul Swain has welcomed the release of a discussion paper on the first stage of the Securities Regulations review.

The Ministry of Economic Development and the New Zealand Securities Commission are releasing the paper today.

"This review is long overdue," Paul Swain said "“The Securities Act and Securities Regulations were introduced in 1978 and 1983 and the way we do business has changed dramatically since then.

"We want this review to lead to reduced compliance costs, greater flexibility and clarity in the application of the Regulations, and accessible and appropriate information for investors.

"This Stage One Document suggests solutions to immediate technical problems with the current regulations.

"It proposes things like modernising terms to make them technologically neutral and ensuring the regulations do not restrict the growth of electronic commerce.

"The proposals also try to remove confusion around provisions, duplication between the Securities Act 1978 and the Regulations and delete obsolete references," Paul Swain said.

Stage Two of the review will examine in depth the way in which the Regulations implement the policy of the Securities Act 1978 and will involve looking at different methods of regulating offer documents and advertisements for securities.

There will be a further consultation period at a later stage on Stage Two of the review. It is expected that Stage One and Stage Two will result in changes to the Securities Regulations 1983 and the Securities Act 1978.

ENDS

kerry.lamont@parliament.govt.nz

Anyone wishing to comment on the Stage One Discussion Document may do so by making a written submission. Submissions will close on the 25 August. Interested parties should contact Bronwyn Turley on (04) 470 2331 or by email at bronwyn.turley@med.govt.nz if they wish to receive a copy of the Discussion Document. An electronic copy is also available on http://www.med.govt.nz/buslt/bus_pol/bus_law/securityregs and www.sec-com.govt.nz.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Veronika Meduna: The Kaikoura Rebuild

A Scoop Foundation Investigation

Friday will be a big day for people north of Kaikōura – and for hundreds of construction workers who are racing to reopen State Highway 1 in time for the holiday season.

By the afternoon, the South Island’s main transport corridor will be open to traffic again, more than a year after a magnitude 7.8 earthquake mangled bridges and tunnels, twisted rail tracks and buried sections of the road under massive landslides. More>>

 

BPS HYEFU WYSIWYG: Labour's Budget Plans, Families Package

“Today we are announcing the full details of the Government’s Families Package. This is paid for by rejecting National’s tax cuts and instead targeting spending at those who need it most. It will lift 88,000 children out of poverty by 2021." More>>

ALSO:

Gordon Campbell: On Defence Spending, Alabama, And Dolly Parton

The spending lavished on Defence projects to meet the risks that could maybe, possibly, theoretically face New Zealand in future is breath-taking, given how successive governments have been reluctant to spend even a fraction of those amounts on the nation’s actual social needs. More>>

ALSO:

Members' Bills: End Of Life Choice Bill Passes First Reading

The End of Life Choice Bill in the name of David Seymour has been sent to a select committee for consideration by 76 votes to 44. It is the third time Parliament has voted on the issue in recent decades and the first time such a Bill has made it over the first hurdle. More>>

ALSO:

State Sector: MPI Survives Defrag Of Portfolios

The Ministry for Primary Industries will not be split under the new government, but will instead serve as an overarching body for four portfolio-based entities focused on fisheries, forestry, biosecurity and food safety. More>>

ALSO:

Gordon Campbell: On Vulnerable Kids, RNZ Funding, And Poppy

The decision to remove the word ‘vulnerable’ from the Ministry for Vulnerable Children could well mark a whole shift in approach to the care of children in need... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages