Recent developments

Corporate

Commerce Minister's speech to insolvency group
Lianne Dalziel highlights some of the key hopes the Government has for the new voluntary administration regime introduced under the Insolvency Law Reform Bill.

Insolvency practitioners rules up for discussion
The Government has released proposals for the regulation of insolvency practitioners, company liquidators and administrators in preparation for the new voluntary administration regime.

Securities Commission issues its Financial Reporting - Cycle 3 report
Cycle 3 of the Securities Commission's ongoing financial reporting surveillance programme has been completed. The focus was on issuers' disclosures over their transition to NZ IFRS.

Doing Business with Government
In October, Lianne Dalziel spoke at Bell Gully's "Crunch" Thought Leadership Series on "Doing Business with Government".

Capital Markets

Latest on the Takeovers Panel's moves to amend provisions of the Companies Act relating to schemes of arrangement and amalgamations
Since the last issue of Commercial Quarterly the Takeovers Panel has been very active in its attempt to amend the provisions of the Companies Act relating to schemes of arrangement and amalgamations to effect acquisitions of Takeovers Code companies.

Securities Commission completes first annual oversight review of NZX
The Securities Commission has published the report on its first oversight review of NZX's performance as a registered exchange. Overall the Commission's findings were favourable but it had some recommendations for improvements.

Discussion document on "securities offerings" released in September
The fourth and final part of the Government's four part securities law reform programme is part of its Review of Financial Products and Providers.

Competition and Consumer Protection

Speech to Trans-Tasman Business Circle
Commerce Commission Chair Paula Rebstock gave a speech on a regulator's view of the current trans-Tasman economic relationship. She provided a general overview of the current activities of the Australian and New Zealand governments to facilitate greater cooperation, coordination and integration of the general competition and consumer protection regimes in both countries.

Review of Commerce Act is to include the electricity supply provisions
Part 4A has been included in the review of Parts 4 and 5 of the Commerce Act.

Resources and Energy

Updated Government Policy Statement on Electricity Governance
On 26 October, the Energy Minister released an updated Government Policy Statement on Electricity Governance designed to improve the quality and timeliness of decision-making on transmission.

Intellectual Property

An update on New Zealand 's battle against spam
The Commerce Select Committee has reported back on the Unsolicited Electronic Messages Bill. The Bill is expected to be passed by the end of this year or early next year and will come into force six months after it receives Royal assent.

Enquiries and information

For more information on any of the cases, articles and features in Commercial Quarterly, please email Diane Graham or call her on 64 9 916 8849.