Legislation/In Parliament

Update on Insolvency Law Reform legislation
Insolvency Act 2006 – no asset procedure
Companies Amendment Act 2006 – voluntary administration

Proposed framework to prevent money laundering and terrorism financing
The Financial Action Task Force Action Group has released its third and final discussion paper concerning the proposal to prevent money laundering and terrorist financing by setting up a supervisory framework.

Regulation of insolvency practitioners on the Government's agenda
The Ministry of Economic Development has released a discussion paper on the regulation of insolvency practitioners, company liquidators and administrators.

Amendments to Securities laws passed
The Securities Amendment Act 2006, the Takeovers Amendment Act 2006, the Securities Market Amendment Act 2006 and the Fair Trading Amendment Act 2006, were all enacted by Parliament on 12 October 2006 (amendments all contained in an omnibus Bill, the Securities Legislation Bill).

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.