Parliament

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

 

Reform of Friendly Societies and Credit Unions Act


Discussion document released on possible reform of Friendly Societies and Credit Unions Act

Commerce Minister Lianne Dalziel today welcomed the release of a discussion document on options to reform the Friendly Societies and Credit Unions Act 1982.

“Credit unions have traditionally played an important role in helping people save and borrow at reasonable rates. Their tradition of being co-operative, self-help organisations is one the government wants to see continued,” Lianne Dalziel said.

The New Zealand credit union movement is in a period of transition. Today some credit unions have assets in excess of $10 million and engage in a wide range of activities. Their commercial operations bear a closer resemblance to retail financial institutions than traditional credit unions, and a number have ambitions of competing directly with retail financial providers.

"The challenge for the credit union movement is to develop a vision for the future that encompasses the needs and aspirations of its member unions, irrespective of their size," Lianne Dalziel said.

"The challenge for government is to develop a credible and efficient regulatory regime that can meet the distinct needs of small and large credit unions.

"The regime needs to have clear, reasonable standards that will encourage the involvement of unpaid directors and other senior officers. It also needs to foster public confidence in credit unions and encourage innovation and fair competition in the financial services sector."

Lianne Dalziel said the discussion document aimed to advance debate on proposals put forward by the New Zealand Association of Credit Unions.

"These proposals do not represent the government's position. They are a starting point for consultation that will enable the government to adopt appropriate policies."

The discussion document can be found at: http://www.med.govt.nz/buslt/bus_pol/bus_law/credit-unions/discussion/

Submissions should be sent, by February 28, to Kay Brown, Ministry of Economic Development, PO Box 1473, Wellington, or by email to mailto: mailto:kay.brown@med.govt.nz.

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Another Reason To Loathe HR Departments (And On The Teachers Strike)

This morning’s news item about Police emergency call centre staff turning up for work while they’re sick – because they’re afraid their sick leave statistics will be used against them, and their jobs put in jeopardy – is not an isolated case...

Obviously, sick people shouldn’t be being treated by doctors and nurses who are themselves sick and potentially infectious. Similarly, Police emergency calls also need to be fielded by people who’re feeling alert, and on top of their game. More>>

 
 

MPs' Computers To Be Searched: Inquiry Into Leak On Simon Bridges' Expenses

An inquiry has been launched to find out who leaked the National Party's expenses to the media... Parliament's speaker, Trevor Mallard, said a Queen's Counsel would lead the inquiry with the help of an employment lawyer and also someone with forensic IT skills. More>>

ALSO:

Teachers Strike: Nationwide Rallies And Marches

Teachers and principals voted for a full day strike to be held on 15 August to send a strong message to the Government that the current collective agreement offers from the Ministry of Education would not fix the crisis in teaching. More>>

ALSO:

Wellington.Scoop: City Council Ends Its Support For Jackson’s Movie Museum

The Wellington City Council and the Movie Museum Limited have today announced a mutually-agreed parting of the ways for a joint project between the Council’s Convention Centre and TMML’s Movie Museum... Both parties remain optimistic for the future of their respective projects. More>>

Pay Equity: Historic Settlement For Education Support Workers

The New Zealand Educational Institute (NZEI) and the Ministry of Education today signed Terms of Settlement to address a pay equity claim for 329 support workers who work with very young children in early childhood and primary schools. More>>

ALSO:

Gordon Campbell: On The Stereotypes About Jacinda Ardern

Routinely, female politicians get depicted as either show ponies or battle axes, with little room for anything else in between. .. More>>

Weekend Interviews: "Discriminatory And Racist" Aussie Deportations

The former president of Australia’s Human Rights Commission Gillian Triggs says deportations have risen dramatically in Australia since 2014 when ministers and ministerial delegates were given the power to cancel visas - and half of those being deported are New Zealanders. "These are massive numbers, actually escalating dramatically."... More>>

ALSO:

Legal Challenge: Prisoner Has 9 Boxes Of Documents Seized

Human rights organisation People Against Prisons Aotearoa says a prisoner they advocate for has had 9 boxes of legal documents seized from him just days before his case against the Department of Corrections was to be heard. More>>

Single-Use Plastic Bags: Govt To Phase Them Out

Single-use plastic shopping bags will be phased out over the next year, Prime Minister Jacinda Ardern and Associate Environment Minister Eugenie Sage announced today. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages