Legislation/In Parliament

Consumer credit contracts – more onerous disclosure requirements for break fees?
A member's bill is being put forward with the aim of requiring lenders to tell borrowers the amount of costs payable if they break their mortgages.

Proposed securities regulation changes released
Changes to make it easier for businesses to raise capital are a step closer with the government's release in April 2009 of a discussion document on proposed changes to securities regulations.

Government takes first step to implement its overseas investment review
The Minister of Finance and the Minister for Land Information have issued to the Overseas Investment Office a new Designation and Delegation letter that provides the first opportunity to consider how the government may implement the outcome of its review of the overseas investment regime. We outline the key aspects of the government's review and consider whether the Designation and Delegation letter is a step in the right direction.

Update on the Securities Disclosure and Financial Advisers Amendment Bill
The Commerce Select Committee has reported back on the Securities Disclosure and Financial Advisers Amendment Bill, introduced into Parliament in February, with only minor amendments. We look at the select committee's recommendations and discuss some of the shortcomings with their proposed amendments.

Insurance (Prudential Supervision) Bill
The bill proposes the introduction of limitations on statutory funds.

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.