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


Courts Right, Exchange and Politicians Wrong

Courts Right, Exchange and Politicians Wrong, On Fletcher Decision

It is a pity that National thinks like Labour on business law issues, ACT New Zealand Justice Spokesman Stephen Franks said today, commenting on National's joining in the complaints after Fletcher Forests received court approval to a 50 percent majority vote - instead of 75 percent - to sell its forests.

"The requirement for a 75 percent majority is sensible for listed companies, and was in the listing rules. It wasn't needed for other companies, so the 1993 Companies Act change to make it compulsory was just unnecessary prescription," Mr Franks said.

"No law change is needed now. All that is needed is for the Stock Exchange to reverse the unfortunate change it made to be the same as company law.

"Having listing rules that are the same as company law serves no purpose, and just invites populist politicians to make ignorant claims that political intervention is needed to protect shareholders.

"The court ruling was entirely sensible and consistent with practice and universal understanding since 1993.

"The pity is that other politicians jumping on the bandwagon simply encourage Commerce Minister Lianne Dalziel's micro-managing urges. The exchange should have admitted it made the mistake, not the judge," Mr Franks.

© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: on the inquiry into the abuse of children in care

Apparently, PM Jacinda Ardern has chosen to exclude faith-based institutions from the government’s promised inquiry into the abuse of children in state care.

Any role for religious institutions – eg the Catholic Church – would be only to observe and to learn from any revelations that arise from the inquiry’s self-limiting focus on state-run institutions… More


Gordon Campbell: On Jim Anderton
For anyone born after 1975, it is hard to grasp just how important a figure Jim Anderton was, for an entire generation.
During the mid to late 1980s, Anderton was the only significant public figure of resistance to the Labour government’s headlong embrace of Thatcherism...More>>


Gong Time: New Year's Honours List

Jacinda Ardern today congratulated the 179 New Zealanders named on the 2018 New Year’s Honours List.

“Although this list was compiled and completed by the last government, it is a pleasure to welcome in the New Year by recognising exceptional New Zealanders,” Jacinda Ardern said.

“As an Aunty, I love reading books to my nieces, so it’s lovely to congratulate Joy Cowley, who is made a member of the Order of New Zealand today....More
Full list

Roads: National launches bid to save highway projects

The National Party has launched a series of petitions aimed at saving regional highway projects at risk because of the Government’s obsession with Auckland trams…More>>


Medical Cannabis: Bill Introduced to “ease suffering”

Health Minister Dr David Clark says making medicinal cannabis more readily available will help relieve the suffering of people who are dying in pain More>>


Campbell: On The Quest For Zero Net Carbon Emissions
Some would querulously ask, zero net carbon emissions by 2050 – while others would say, why not?


CPAG Report: The Further Fraying Of The Welfare Safety Net

New Zealand’s welfare system has undergone a major transformation during the past three decades. This process has seriously thwarted the original intent of the system, which was to provide a decent standard of living for all New Zealanders in times of need... More>>





Featured InfoPages