Parliament

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

 

Government Hides Behind Law That Doesn't Exist


Government Hides Behind Law That Doesn't Exist

New Zealanders should not accept for one minute the Government's use of securities law to hide from answering questions about the delivery of Air New Zealand into Australian hands and the end of domestic competition, ACT Justice and Associate Commerce Spokesman Stephen Franks said today.

"On December 1, new rules will apply under the Securities Markets Bill rammed through last week. But until then, the relevant rules are insider trading law which encourages disclosure, and stock exchange rules, which I designed.

"I can say categorically that these rules would not prevent the Government - as major shareholder or as guardians of the public interest - from commenting on any aspect of Air New Zealand's announcement, if it wanted to.

"The claim of Crown Law opinions to the contrary cuts no ice. Even if they have been able to construct technical arguments, if they had wanted to comment and wanted to have it blessed, the Markets Surveillance Panel would have found a waiver application a no-brainer.

"The Government has ducked questions so far by saying, "We know nothing, and can not comment until the company tells us what it wants". Now the Government knows, it is hiding behind completely spurious securities law restraints. These restraints don't exist, and if they did, it would be a scandal in itself that a Government could construct a position where it need not answer questions about the creation of a monopoly because it will be a shareholder in the monopoly.

"Helen Clark ignored securities law to manipulate the market when it suited her a year ago. Now her Government is making up securities law in the hope that it will be a done deal before people have gotten over the Christmas holiday distractions," Mr Franks said.


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines


Gordon Campbell: On Our Weird Ways Of Funding Care For The Dying


National Party leader Judith Collins thinks the government’s traffic light system for emerging from Covid lockdowns is “confusing.” Perhaps she could be looking in the mirror because in recent weeks, National has hardly been a model of crystalline clarity. On RNZ this morning Collins was calling for the scrapping of all vaccine certificates and mandates once we hit 90% double dose vaccination. Yet in recent weeks, Chris Bishop, National’s Covid spokesperson has been indicating that vaccine certificates and employment mandates will be, and should be, part of our new Covid landscape... More>>

Covid-19: Two Cases Notified In Christchurch Last Evening


The Ministry of Health was notified last evening of two positive COVID-19 cases in Christchurch from the same household. One member of the household had recently returned to Christchurch from Auckland. The local public health unit is gathering information from the cases to identify close contacts and exposure events, including any locations of interest... More>>





 
 


Government: Considers Regulatory Safeguards For Three Waters Services
Public feedback is being sought on the regulatory safeguards required to ensure consumers and communities receive three waters services that meet their needs, Commerce and Consumer Affairs Minister, Dr David Clark announced today... More>>


Three Waters: Government To Protect Vital Public Water Services For Future Generations
Local Government Minister Nanaia Mahuta today confirmed the Government will create four publicly owned water entities to ensure every New Zealander has access to affordable, long-lasting drinking, waste and storm water infrastructure... More>>

ALSO:



Government: Responds To Independent Review Into WorkSafe

The Government has clear expectations that WorkSafe must action the recommendations of the independent review into the regulator to improve its management of adventure activities following the tragedy at Whakaari White Island, Workplace Relations and Safety Minister Michael Wood says... More>>



Government: First Step In Managed Isolation Changes; Expanding QFT With Pacific

The Government is starting a phased easing of border restrictions that will see the time spent in an MIQ facility halved for fully vaccinated overseas arrivals from 14 November and home isolation introduced in the first quarter of 2022 at the latest, Chris Hipkins said today... More>>

ALSO:

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels