Legislation/In Parliament

New limited partnership regime
The Government has announced that a Bill to give effect to a new limited partnership regime will be introduced next year to encourage venture capital investment in New Zealand.

Review of non-bank finance sector and changes to credit union rules
The Government has also announced a review of how a number of non-bank financial products and providers are regulated. In the same announcement, the Minister of Commerce announced proposed changes to the legislation governing friendly societies and credit unions.

Greater protection for sensitive and heritage sites
The Overseas Investment Act passed by Parliament in June is intended to tighten the screening and monitoring regime for overseas persons seeking to purchase properties in New Zealand that have special cultural or environmental value.

Securities Legislation Bill update
The Commerce Committee recently presented its Select Committee report on the Securities Legislation Bill back to Parliament, recommending that it be passed subject to certain amendments.

Enquiries and information

For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.