In the journals

Changes to consumer credit contracts
This article summarises the main implications of the Credit Contracts and Consumer Finance Act 2003, which came into full force on 1 April 2005.  

Mistake with name invalidates entire financing statement in Canada
New Zealand courts have not yet considered the effect of a misleading error in a registered financing statement. However, this article discusses a recent Canadian case suggesting that an innocent mistake could render the entire financing statement invalid.

Reserve Bank amends bank disclosure requirements
Registered banks are required to publish quarterly disclosure statements covering a wide range of financial and prudential information. The Reserve Bank of New Zealand has made a number of changes to these requirements, which are discussed in this article.

The nuts and bolts of the Securities Amendment Act 2004
The Securities Amendment Act 2004 came into force on
15 April 2004 . It introduced several significant changes, including the addition of two additional categories of private offers, a new eligible persons exception and new rules regarding pre-prospectus advertising. This article provides an overview of the changes.

Letters of comfort and contractual liability in Australia
This article advises that, in order to avoid contractual liability, Australian issuers of letters of comfort should state expressly that the documents are not intended to have legal effect.

Corporate insolvency - the Australian statutory framework
This article, the first in a three part series, considers the Australian statutory framework in the area of insolvency relating to preferences and uncommercial transactions and looks at some recent decisions in the Australian courts.

Adopting NZ IFRS: some tax consequences
While companies have been able to adopt International Financial Reporting Standards (IFRS) voluntarily since 1 January 2005 , adoption will become mandatory in 2007 for all reporting entities. In this article, some of the consequences for income tax and dealings with the IRD are examined.

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.