Recent developments

Corporate governance principles for New Zealand
The Securities Commission has published a report entitled "Corporate Governance in New Zealand - Principles and Guidelines".

Clarification of directors' and officers' disclosure regime
Bell Gully has welcomed the Securities Commission's clarification of the application of the new disclosure regime for directors and officers of publicly listed companies, which came into force on 3 May.

New merger and acquisitions guidelines
At the end of last year, the Commerce Commission released a publication entitled "Merger and Acquisitions Guidelines". These guidelines clarify how to apply the substantial lessening of competition threshold under the mergers and acquisitions provisions of the Commerce Act 1986.

Changes to Accounting Standards
With the support of the Financial Reporting Standards Board, the Accounting Standards Review Board has decided that New Zealand should move to full adoption of international financial reporting standards (IFRS).

Proposal for mutual recognition of securities offers
Hon Margaret Wilson has released a joint discussion paper on the trans-Tasman mutual recognition of offers of securities and managed investment scheme interests with Ross Cameron, the Australian Parliamentary Secretary to the Treasurer.

Changes to Companies Office filing procedures and fees
A summary of changes to fees and procedures for filing online at the Companies Office.

Enquiries and information

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