The Regulator Report lists recent changes, decisions and developments at the main New Zealand and Australian corporate, commercial and competition regulatory bodies and updates progress of legislation in New Zealand. This edition of the Regulator Report covers the period from
19 August to 9 September 2009.

Prime Minister's office

Single Economic Market developments at Australia-New Zealand Prime Ministers' bilateral meeting
Prime Ministers Kevin Rudd and John Key agreed to a joint statement of intent to give new intensity and a renewed focus to delivering the practical benefits and outcomes from the Single Economic Market work programme at their fourth bilateral meeting in Canberra on 20 August 2009. They agreed on a framework of principles and shared medium term practical outcomes for developing cross-border economic initiatives, including achieving the following within a two year period:

• Profit entities can use a single set of accounting standards and prepare only one set of financial statements;
• Trans-Tasman companies have to prepare only one set of financial statements to one set of standards;
• Trans-Tasman financial institutions face the same customer due diligence and anti-money laundering compliance programme obligations on both sides of the Tasman;
• Competition and consumer law regulators in both jurisdictions can share confidential information for enforcement purposes;
• Cross membership between the ACCC and New Zealand Commerce Commission at associate member level;
• A single cross-border insolvency proceeding where an insolvent entity has interests on both sides of the Tasman;
• An insolvent under administration faces equivalent outcomes on both sides of the Tasman and each country recognises those outcomes.

In addition, the following outcomes are to be achieved within a five year period:

• Auditors registered in one country can operate in the other country;
• Financial reporting standards bodies in Australia and New Zealand have functional equivalence;
• Investors and other users of financial products in Australia and New Zealand receive comparable disclosures;
• Recognised financial advisers in Australia and New Zealand are able to operate across the Tasman without the need for further approvals;
• The New Zealand and Australian corporate trustee regimes are aligned for financial products;
• Firms operating in both markets are faced with the same consequences for the same anti-competitive conduct;
• A standard set of representations of electronic financial and business performance data that businesses use when reporting to government in both Australia and NZ;
• Trans-Tasman businesses have a single business identifier recognised by government agencies on both sides of the Tasman;
• Trans-Tasman businesses are required to file company information only once to meet the requirements of both governments;
• A single trans-Tasman register for personal property securities;
• A single trans-Tasman regulatory framework for patent attorneys;
• One trans-Tasman trade mark regime; and
• One application process for patents in both jurisdictions.

Click here to read the full press release
Click here for more details on the Single Economic Market outcomes framework

Australia-New Zealand inaugural joint Cabinet meeting
The first ever Australia-New Zealand joint Cabinet meeting was held in Sydney on 22 August 2009. Ministers discussed domestic, strategic, and international matters, with a strong focus on the implications of the global economic crisis. The meeting proved valuable in discussing the joint challenges faced by Australia and New Zealand, and Ministers from both sides endorsed a proposal to convene a further joint Cabinet meeting in 2010.
Click here for more details

The Treasury

Government deposit guarantee scheme extended
The Government has extended the Retail Deposit Guarantee Scheme and changed some of its terms and conditions under the Crown Retail Deposit Guarantee Scheme Bill 2009 which was passed under urgency on 9 September 2009. The current scheme ends on 12 October 2010, and the new scheme will start on 13 October 2010 and end on 31 December 2011. Depositors and institutions have more than one year's advance notice before the scheme changes. They then have a further 14 months under the extended scheme.

The changes that will take effect after 12 October 2010 are:

• Fees paid by participating institutions will be changed to reflect their risk profile. The fees are set by the Minister of Finance and are intended to approximately match longer term normal market pricing. Thresholds in the current scheme will be discontinued and the fees will apply to all funds in the new scheme.
• Eligible bank deposits will be covered up to a maximum of $500,000 per depositor per institution and eligible non-bank deposits to a maximum of $250,000 per depositor per institution. The maximum in the current scheme is $1 million per depositor per institution.
• Deposit-taking institutions with a credit rating of BB or higher can apply to participate in the extended scheme. Institutions with a lower credit rating, or no rating, will no longer be eligible.
• Collective Investment Schemes won't be eligible for the new scheme.

All depositors currently benefiting from a Crown guarantee will have their deposits covered until 12 October 2010. Whether or not they are covered after that will depend on whether their institution voluntarily joins the new scheme. A list of institutions covered by the scheme beyond 12 October 2010 will be available on the Treasury website once applications have been processed. A list of the new fees is also available on the website.
Click here for the press release
Click here for further details

Government outlines infrastructure approach
The Government intends to involve the private sector in infrastructure projects where it makes sense for both taxpayers and users, Infrastructure Minister Bill English says. The Government has increased infrastructure funding to $7.5 billion over the next five years and is now focused on ensuring New Zealand gets the best value and services from that investment.
Click here for the full press release
Click here for a full transcript of the Minister's speech to the New Zealand Council for Infrastructure Development

Government welcomes infrastructure paper
The Minister for Infrastructure, the Hon Bill English, has announced the release of a document 'Infrastructure: Facts and Issues'. Feedback on the discussion document will be incorporated into the first National Infrastructure Plan early next year. The document provides a stocktake of key infrastructure issues and challenges, including discussion on the state of network infrastructure (roads, electricity and telecommunications), as well as social infrastructure (hospitals, schools and prisons). Submissions close on 5 October 2009.
Click here for the full press release
Click here to access the document: "Infrastructure: Facts and Issues"

The Reserve Bank of New Zealand

Deposit Takers (Non-trustee Entities Risk Management) Exemption Notice 2009
The Reserve Bank of New Zealand Act 1989 was amended in 2008 to establish a new framework for the regulation of non-bank deposit takers (NBDTs) by the Reserve Bank. A new Part 5D has been inserted into the Act, which requires NBDTs to comply with various prudential regulatory standards, including a requirement to have and comply with a risk management programme on and after 1 September 2009. The Reserve Bank has now granted a class exemption from the requirement that the risk management programme must be reviewed by a trustee if the NBDT has no trust deed. This will enable risk management programmes to be reviewed by an alternative governing body. A condition of the exemption requires an exempted deposit taker to supply a written statement to the Reserve Bank by the governing body that its risk management programmes comply with the Act. The Deposit Takers (Non-trustee Entities Risk Management) Exemption Notice 2009 came into force on 1 September.
For further details on the risk management programme see the Bell Gully article: Non-bank deposit takers risk management guidelines released

The Department of Internal Affairs

Government decisions in response to the Royal Commission on Auckland Governance
The Department of Internal Affairs has posted the Cabinet papers and minutes on the Government's decisions in response to the Royal Commission on Auckland Governance on its website.
Click here to access these papers

Report released on Auckland Governance Bill
The Auckland Governance Legislation Committee has released its report on the Local Government (Auckland Council) Bill. This bill continues the process of transitioning the eight existing councils in the Auckland region into one Auckland Council (established under the Local Government (Tamaki Makaurau Reorganisation) Act). If the recommendations of the select committee are adopted:

• The mayor will be elected by the electors of Auckland as a whole using the first past the post (FPP) voting system for the first election in October 2010; and
• All 20 members of council will be elected from single-member or multi-member wards, using the FPP voting system for the first election in 2010. No councillors will be elected at large.

The select committee's recommendations also are directed at ensuring that the decision-making roles of the two tiers of the council are allocated according to clear principles. The bill, as reported back, would provide that the governing body of the council and the local boards will sit alongside each other and have distinct roles, rather than operate in a hierarchical relationship. The select committee has recommended that the governing body should be responsible for:

• the regulatory functions of the council (including RMA, Health and Building Acts, Civil Defence);
• financial and asset management;
• staff and resources of the council;
• the establishment and maintenance of capacity to provide, or ensure the provision of, services and facilities by the council;
• implementing the agreement reached with each local board in respect of local activities;
• making decisions on non-regulatory activities, where an Auckland wide approach will better promote the well-being of the communities across Auckland.

The select committee has made additional recommendations on the role of the mayor; the roles, functions and decision-making responsibilities of local boards; the boundaries of Auckland; and the integration of water services.
Click here to access the report and other relevant information

Ministry of Economic Development (MED)

New securities regulations
Commerce Minister Simon Power announced on 26 August 2009 that Cabinet had approved new securities regulations. The Securities Regulations 2009, which will replace the Securities Regulations 1983, implement a range of recommendations made by the Capital Market Development Taskforce. The regulations provide for the details of the new simplified disclosure prospectus for listed issuers that were established by the recently enacted Securities (Disclosure) Amendment Act 2009, and include a range of other amendments that will benefit issuers and investors. "These new regulations should make a real difference for companies seeking to raise capital," Mr Power says. "In particular, the simplified disclosure prospectus will provide a significant reduction in compliance costs for listed issuers by removing the requirement to disclose information that is already available to the market." The new regulations will come into force on 1 October 2009. However, issuers will be able to elect to offer under the existing regulations until June next year.
Click here for the press release
Click here for Bell Gully commentary on the regulations

New regime for corporate trustees and statutory supervisors
Commerce Minister Simon Power announced that the Government has agreed to a new regime for corporate trustees and statutory supervisors who supervise debt issuers and some collective investment schemes, on 26 August 2009. The new regime, will involve the licensing of trustees by the Securities Commission, and a range of measures to strengthen the quality of supervision provided by trustees.

The Minister says that the recent collapse of a large number of finance companies has raised some fundamental issues around the role of corporate trustees, and in particular the competency and accountability of some trustees. The new regime will ensure that trustees are suitably qualified and have rigorous systems and processes in place to protect the interests of investors, he says.

Central to the new regime is the removal of the automatic right for trustee corporations to supervise issuers of debt and some collective investment schemes. Instead, trustees will be licensed by the Securities Commission which will have the power to tailor licences so trustees have processes in place that are in proportion to the level of risk associated with the issuers they supervise. It is understood that, in doing so, the Commission will take into account matters such as the trustee's competence, systems and processes for supervising issuers, and financial strength.

Additional measures to improve the quality of supervision provided by trustees, referred to by the Minister include:

• enhanced powers of enforcement against trustees who fail to comply with their duties;
• greater prescription around matters that must be addressed in trust deeds;
• mandatory reporting by trustees to the Commission when issuers of securities may be nearing default; and
• enabling the Commission to direct trustees to take action against issuers.

The Minister also noted that the new regime, while contributing to ensure that trustees' supervision of debt issuers and some collective investment schemes is effective and protects investors, would not impose unnecessary compliance costs. He added that mandatory reporting by trustees to the Securities Commission will help ensure proactive action is taken to protect investors' interests.

Legislation is expected to be ready for introduction to Parliament by the end of the year.
Click here to read the press release
Click here to read the Cabinet paper

Government moves on finance company moratoria
Commerce Minister Simon Power announced on 26 August 2009 that the Government hopes to have regulations simplifying and clarifying disclosure obligations for finance company moratoria introduced by the end of the year. In simple terms, these moratorium proposals provide investors with a choice between a moratorium (forgoing interest or principal repayments (or both) for a period of time) and a receivership. To date moratorium proposals have been used by 12 finance companies with approximately $2 billion involved.

The Minister says the regulations will ensure that key information is available to investors who are being asked to decide whether to approve a moratorium proposal affecting their investments. At present those decisions are the subject of what he described as onerous and highly complex disclosure documents. Instead, the new regulations will require debt issuers to provide clear and concise investment statements about moratorium proposals, along with independent expert advice, the views of the trustees, and the considerations of the company directors.

Central to the new disclosure regime are concerns that the material currently being circulated does not provide investors with the appropriate information to make sound decisions. (For details on the current requirements for moratorium proposals see the Bell Gully article Moratorium proposals: what do investors need to know?) As a result, the new regulations will seek to ensure that the right information is made available in a transparent and easy-to-understand way.
Click here to read the press release

Inquiry into finance company failures
On 20 August 2009, the Commerce Select Committee, chaired by former Commerce Minister Lianne Dalziel, initiated an inquiry into finance company failures. The committee referred to four areas which, it said, did not appear to have been addressed by previous and current government programmes. The four broad areas identified are aimed at ensuring:

• investors are well-informed about investment proposals;
• investors understand the implications of a moratorium proposal before voting;
• advance actions can be taken to reduce the chances of failure; and
• adequate measures for redress exist when failures occur.

Based on these areas, the committee has set the following terms of reference for the inquiry:

1. To examine the quality of information provided to investors when considering an investment decision and investors' ability to understand financial matters. This workstream includes an examination of the role of marketing and advertising of investment proposals, adequacy of disclosure (particularly about advisers' commissions) and investor education issues.
2. To examine the quality of advice provided to investors in moratorium situations, including independent analysis of moratorium versus receivership and the independence of the management of the moratorium.
3. To examine ways of minimising the chances of situations arising where the risk of failure is not adequately reflected in the risks identified to investors or the returns investors expect to receive for that level of risk. This workstream includes examining the power of regulators to "call in" particular products that may raise investor protection issues, extended whistle blower protections and whether directors and managers implicated in "inappropriate activity" should be able to start up new firms.
4. To examine the measures in place that provide redress to investors where failure occurs and wrongdoing is established, particularly whether these measures act as a significant disincentive for wrongdoing to occur. This workstream includes questions about the holding of appropriate professional indemnity insurance, the tracing of funds following a collapses and the scope for "busting" asset protection trusts set up by culpable directors.

The committee has called for written submissions on the terms of reference, with a closing date of 15 October 2009.
Click here to read the media release
Click here to read the select committee's report

Section 92A: summary of submissions released
Commerce Minister Simon Power has released a summary of the submissions received in response to the proposal document for the review of section 92A of the Copyright Act 1994 (dealing with repeat internet copyright infringement) which was released for public consultation in July this year. The proposal attempts to address internet user, rights holders and internet service provider (ISP) concerns that have previously been raised about section 92A. Mr Power says there is a high level of interest, with 113 submissions received, 40 of them from industry organisations. A key concern raised by submitters was the proposal to terminate internet accounts as a remedy to copyright infringement. It was felt termination was an unreasonable 'remedy', especially where multiple users of a single account could make identifying an infringer difficult. However, Mr Power notes that there is general support for the Copyright Tribunal playing the role of independent third party arbiter if necessary. Legislation is expected to be introduced by the end of the year, and the public will have another opportunity to make submissions during the select committee stage.
Click here for Bell Gully commentary on the proposal document
Click here to read the summary of the submissions
Click here to read the proposal document
Click here to read the press release

Report back on the resource management streamlining
The Local Government and Environment Committee has recommended the Resource Management (Simplifying and Streamlining) Amendment Bill be passed with amendments. The bill attracted 840 submissions representing a wide range of sectors and interests. It represents the first of two phases of the reform of the Resource Management Act 1991 (the RMA). Phase one seeks to improve processes under the RMA that have been found to be burdensome and costly. It also establishes a new entity, the Environmental Protection Authority, and prepares the way for more changes in the second phase of reform.
Click here to access the report
Click here to read Bell Gully commentary on the select committee's recommendations

Streamlined resource management law passed
The Resource Management (Simplifying & Streamlining) Amendment Bill passed its third reading with amendments in Parliament on 9 September 2009 and will enter into law from 1 October 2009.
Click here for the Minister for the Environment's press release
Click here for links to the Supplementary Order Papers introduced for the bill on 8 and 9 September 2009

Emissions Trading Scheme Review Committee report released
In December 2008, the Emissions Trading Scheme Review Committee was established by the House as a special committee to review the New Zealand Emissions Trading Scheme (ETS), as a result of the confidence and supply agreement between National and ACT. The review committee released its majority report on 31 August, together with four minority reports from Labour, the Green Party, ACT and the Māori Party. The majority report makes 34 broad high-level recommendations. The minority reports provide greater substance of the issues still to be negotiated and agreed between the parties. The key points of difference between the majority report and the minority reports are:

• ACT and the Māori Party would prefer a carbon tax instead of an emissions trading scheme as the primary economic mechanism in New Zealand's response to climate change.
• National would consider a short-term price cap on carbon to assist businesses while the market is developing and maturing (Labour, the Green Party, ACT and the Māori Party oppose price caps).
• National, United Future and ACT favour an intensity-based allocation scheme without a cap to protect sectors of the economy whose competitiveness may be at risk. Labour, the Māori Party and, the Green Party oppose this option all preferring a grandparenting allocation model as is currently set out in the Act.
• The ETS is to continue to be all sectors/all gases, including the agriculture sector. It is proposed that the point of obligation initially be at the processor level moving to farmer level once issues relating to the number of participants and the ability to verify farm-level information are resolved. It is possible that there could be a delay to the agriculture sector's entry into the ETS, although Labour and the Green Party strongly support the entry of the agriculture sector no later than January 2013. ACT is opposed to the agriculture sector being included in the ETS at all.

Labour, in its minority report notes that it would be prepared "for the sake of achieving long-term certainty and durability in an ETS" to consider supporting the following changes:

• altering the dates on which sectors enter the scheme, to:
• the stationary energy, industrial processes and transport sectors on 1 July 2010; and
• all other sectors from 1 January 2013 (no change);
• introducing into the ETS, from an early date, an agricultural emissions offset scheme, modelled on the current Waxman-Marley Bill proposals in the United States, with units being fully convertible into international units from the outset;
• if there is insistence on a cap on the price of units, allowing one only for a limited and fixed duration, directed at reducing the impact of unexpected price spikes, and thus starting well above current prices, and applying to emissions, not removals;
• if there is insistence on a different allocation model, providing free allocation to individual firms in trade-exposed sectors on the basis of their actual emissions (an intensity-basis), within a fixed pool of units (based on historical sector emission levels);
• strengthening statutory consultation procedures, including the establishment of a standing advisory committee on climate change; and
• if absolutely necessary to achieve consensus, Labour would also consider adopting the Australian proposal of a one-year fixed price for emission, but not removal, units provided that appropriate protection for the forestry sector could be agreed.

Minister for Climate Change Issues Dr. Nick Smith has indicated that it is the Government's ambition "to go to Copenhagen in December with the policy and legislation for [New Zealand's] emissions trading scheme settled". The Government's preference is for an amended ETS.
Click here to read the full report
Click here to read the minister's press release

Capital Market Development Taskforce welcomes NZX discussion paper
The Capital Market Development Taskforce has welcomed a discussion document prepared at its request by NZX which considers the allocation of regulatory functions in New Zealand's capital markets. Taskforce chair Rob Cameron says: "Globally there is debate about the optimal scope and role of exchanges in regulation. We realise that this is a complex issue – NZX undertakes a wide range of different regulatory functions, some of which are inherent in being an exchange. The appropriate location of each of these functions needs to be assessed against a clear and rigorous set of principles."
Click here for the full press release
Click here to access the discussion document
Click here for Bell Gully commentary on the paper

New research papers released by the Capital Market Development Taskforce
New research papers prepared for the Capital Market Development Taskforce on household savings, international integration, financial literacy, and why capital markets matter, are now available on MED's website.
Click here to access these papers

Latest developments and legislative objectives for securities law in New Zealand
Commerce Minister Simon Power gave the keynote address to the 5th Annual Securities Law Update in Wellington on 26 August 2009. He noted that he has asked his officials to focus on the following four key areas for the review of the Securities Act 1978:

• what securities law is trying to achieve and how to make it effective;
• how to ensure investors get all relevant information, but no more than they need;
• producing clear, consistent requirements for offering managed funds; and
• making sure regulatory bodies are appropriate to needs.

Among the ideas being considered are the possibility of including "wealth warnings" (first implemented in the Netherlands) where the first page of a disclosure document contains simple-to-understand "traffic lights" which give investors an instant overview of matters such as risk, return, and fees.

A discussion document on the Securities Act will be released by the end of this year and new legislation is expected to be in place by 2011.
Click here for a full transcript of the speech

Telecom's operational separation undertakings technology
On 3 September 2009 the Minister for Communications and Information Technology Steven Joyce called for public submissions on Telecom's proposed variation of the company's Operational Separation Undertakings. The proposed variation relates to the requirement on Telecom to implement logical separation of shared information systems containing customer confidential information by 31 December 2009. Comment is also sought on a draft Peer Review report on Telecom's proposed variation. Submissions close on 18 September 2009.
Click here for further details

Companies Office

Change to annual return service
When you file this year's annual return you will be required to update all directors' addresses to meet new address standards introduced by New Zealand Post. This will help to ensure the registrar only sends mail to a valid delivery address.
Click here for more

Ministry for the Environment

Seminars on the Resource Management (Simplifying and Streamlining) Amendment Act 2009
The Ministry for the Environment in conjunction with local government is holding a series of seminars at 12 locations around New Zealand for practitioners who work closely with the RMA. To attend you will need to register before 11 September 2009.
Click here for further details

Electricity Commission

Consultation on reconciliation rules
The Electricity Commission has proposed a number of amendments to parts E and J of the Electricity Governance Rules 2003 in a consultation paper released on 8 September 2009. Consequential amendments are also proposed to parts A and H of the Rules. Submissions close on 16 October 2009.
Click here for further details

Electricity pricing
The Electricity Commission seeks submissions on the proposal to introduce an interim pricing period which would allow participants and the Electricity Commission Board to consider whether an input or calculation error has occurred in the pricing process, and apply to the Commission to have the error corrected prior to prices being published as final. The proposal would be achieved by changing all occurrences of "final prices" in part G of the Electricity Governance Rules 2003 into "interim prices" and then adding an extra step in order for prices to be reviewed, corrected if necessary and published as final. If no pricing error claims are made, this would only add one day to the pricing process. Submissions close on 5 October 2009.
Click here for further details

Payment in same day cleared funds
The Electricity Commission has released a consultation paper on proposed changes to part H of the Electricity Governance Rules 2003 which relates to the clearing and settlement of the wholesale market.

The Rules currently require payers (e.g. retailers) to pay the Clearing Manager in cleared funds by 4pm on the 20th of each month (settlement day). The Clearing Manager is required to pay payees (e.g. generators) on the same day, once it has access to the funds from payers. However, there is no requirement that the Clearing Manager pay in cleared funds (i.e. funds that are immediately available for disbursement). Consequently, some payees are unable to draw on those funds until they have cleared, which can take several days. This has implications for the payee's working capital requirements. The proposed amendments to the Rules will require the Clearing Manager to pay in cleared funds on the day retailers make their deposit. Submissions close on 11 September 2009.
Click here for further details

Securities Commission

Commission finds encouraging practices in corporate governance disclosures
The Securities Commission was encouraged by the findings of its latest review of corporate governance reporting. Many issuers are providing transparent and relevant disclosures of their corporate governance policies, procedures and practices. The review involved assessing annual report and website disclosures of 24 selected issuers against nine principles covering the core elements of good corporate governance.  The principles are set out in a corporate governance handbook for directors, executives and advisers, published by the Commission in 2004. It will publish a more detailed report of its findings after concluding its next review of disclosures.
Click here for more

New Zealand in the international securities marketplace
Jane Diplock, Chair of the Securities Commission, gave a presentation at the 5th Annual Securities Law Update in Wellington on 26 August 2009. The speech addresses the Commission's domestic work programme and the "vital" connection between New Zealand and international markets. She emphasises that the bulk of the Commission's work has not been dominated by production of a raft of panic-driven regulation in response to the global financial crisis. Ms Diplock says the Commission "was well on course to bring this country's securities markets up to international standards long before there was any hint of a crisis. We were then and are now focused on putting in place the kind of regulatory framework every capital market needs". On the trans-Tasman front she notes the success of the mutual recognition of securities offerings regime, with 40 issuers from Australia and New Zealand making use of the regime since it came into force in June 2008. She also notes that there has been significant progress in the ASIC/New Zealand Securities Commission relationship that will "eventually give us a virtual trans-Tasman regulatory framework".
Click here to read the full transcript of the speech

The effects of the credit crisis on the trans-Tasman environment, and the New Zealand response
Jane Diplock, Chair of the Securities Commission, gave a presentation to the Australasian Compliance Institute - New Zealand Financial Sector Forum in Auckland on 27 August 2009. She provides an update on the progress of the Commission's proposal to amend the Securities Act (NZX – Share and Unit Purchase Plans) Exemption Notice 2005 which allows NZX listed companies to raise up to $5,000 per existing shareholder per year without requiring the production of a registered prospectus and investment statement. She notes that "the Commission has now settled the policy for a new class exemption that will raise the annual limit under the class notice to $15,000. Terms will remain broadly as they are now. However, with the higher limit we will not be allowing the exemption to be used by any issuer whose securities have been suspended for more than five days in the previous year. This reflects the fact that many suspensions are due to underlying disclosure issues, and this allows the Commission to satisfy itself that disclosure is up to date before allowing these offers to proceed."
Click here for a full transcript of the speech

SECURITIES ACT EXEMPTION NOTICES

The following Securities Act Exemption Notice has been published for this period:

Securities Act (Crown Wholesale Debt Securities) Exemption Amendment Notice 2009
This notice amends the Securities Act (Crown Wholesale Debt Securities) Exemption Notice 2004 to extend the expiry date of the principal notice from 31 August 2009 to 31 August 2014. The principal notice exempts the Crown, and certain other offerors of specified debt securities, from regulation 7A(1) and clause 5(1)(b) of Schedule 3D of the Securities Regulations 1983. These provisions relate to the content of investment statements.

SECURITIES MARKETS ACT EXEMPTION NOTICES

The following Securities Markets Act Exemption Notice has been published for this period:

Securities Markets (Investment Advisers and Brokers) Amendment Regulations 2009
These regulations, which come into force on 1 October 2009, consequentially amend the Securities Markets (Investment Advisers and Brokers) Regulations 2007 as a result of the new Securities Regulations 2009. The amendment updates the cross-reference in the definition of term life insurance policy so that it refers to the definition in the Securities Regulations 2009.

Takeovers Panel

Consultation on partial offers
The Takeovers Panel is concerned about any difficulties that market participants are experiencing with the provisions of the Takeovers Code which relate to partial offers. The Panel has released a consultation paper proposing options for resolving the following issues:

• the potential distortion in the scaling of acceptances where shares in the target company are held by a custodian or nominee;
• frequent misstatements in draft offer documentation of the "specified percentage" of shares being sought by the offeror under a partial offer;
• problems with identifying the persons eligible to vote on whether to approve an offeror making a partial offer that results in the offeror having voting control in the target company of 50% or less;
• potential difficulties caused by the percentage of voting rights already held or controlled by an offeror being diluted during the course of an offer;
• potential difficulties for an offeror that wishes to extend the offer period of a partial offer; and
• the implication of votes cast by the offeror or its associates to approve an offeror making a partial offer that results in the offeror having voting control in the target company of 50% or less.

Submissions on the consultation paper close on 9 October 2009.
Click here to access the consultation paper

Takeovers Panel considers class exemption for rule 16(b)
In August, the Takeovers Panel released a consultation paper on whether to grant a class exemption from rule 16(b) of the Takeovers Code. The paper discusses the Panel's current approach in granting specific exemptions from rule 16(b), the appropriateness of granting a class exemption and the possible terms and conditions of a class exemption. Rule 16 of the Takeovers Code specifies the information required for a shareholders' meeting notice relating to a proposed resolution for an allotment of voting securities which result in a shareholder holding or controlling (together with their associates) more than 20 percent of the total voting rights in a code company. Rule 16(b) requires the notice of meeting to contain, or be accompanied by, disclosures of the exact number and percentage of voting securities to be allotted and the exact percentage of voting securities that would be held by the allottee after the allotment. Often it can be impossible for the code company to specify the exact numbers and percentages required to be disclosed under rule 16(b) because that information is dependent on a number of factors outside of the company's control.

So far, the Panel has granted 35 exemptions from rule 16(b) and has rarely, if ever, declined any exemptions sought. Rule 16(b) exemptions represent nearly 20 percent of all exemptions granted by the Panel and result in a considerable time and cost burden on the resources of the Panel, the applicant allottee(s) and the code company.

The Panel has proposed the following four options for consultation:

1. retain the status quo, with the Panel continuing to consider exemptions on a case by case basis;
2. amend the Code to enable potential maxima to be disclosed in the notice of meeting;
3. grant a class exemption from rule 16(b) of the Code so that where the exact numbers and/or percentages required to be disclosed under rule 16(b) are unknown, the potential maxima must be disclosed; or
4. grant a class exemption from rule 16(b) of the Code (as in option 3) but require an additional level of approval by the Panel to determine whether a particular proposed transaction falls within the exempted class.

The Panel's preferred options are either of option 3 or option 4. That is, that the Panel grants a class exemption from rule 16(b) of the Code, with, or without, Panel approval on a case-by-case basis of the transactions that may fall within the exempted class.

If the Panel grants a class exemption form rule 16(b), the Panel notes that they would also consider whether the exemption should be a short term solution until the Code is amended to enable maxima to be disclosed in the notice of meeting.

Submissions on the Panel's proposals close on 2 October 2009.
Click here for a copy of the consultation paper

TAKEOVERS CODE EXEMPTION NOTICES

The following Takeovers Code Exemption Notices have been published for this period:

Takeovers Code (Rangatira Limited) Exemption Notice 2009
This notice applies to acts or omissions occurring on and after 3 October 2007 and expires on 4 September 2009. The notice relates to an increase in the percentage of voting rights held or controlled by Peter McKenzie in the A shares of Rangatira Limited (the Rangatira shares). Peter McKenzie controls (either personally, or as an executor and a trustee) over 20% of the voting rights in the Rangatira shares. On 3 October 2007, he was granted an enduring power of attorney over the whole of the property of his mother, Shirley McKenzie which included her holding in 3.6% of the voting rights in the Rangatira shares. As a result of the grant of the power of attorney, Peter McKenzie gained effective control of those voting rights in addition to those he already controlled.

Takeovers Code (Fulton Hogan Limited) Exemption Notice (No 2) Amendment Notice 2009
This notice amends the Takeovers Code (Fulton Hogan Limited) Exemption Notice (No 2) 2007 (the principal notice) by extending the expiry date of the principal notice from 31 October 2009 to 31 October 2014. In the principal notice, the Takeovers Panel granted 4 exemptions to members of the Fulton family, subject to conditions, from rule 6(1) of the Code in respect of increases to their voting control in Fulton Hogan Limited (Fulton Hogan). Those exemptions were to expire with the principal notice on 31 October 2009. The Takeovers Panel considers it is appropriate to renew three of those exemptions for a further 5-year period. The fourth exemption (in clauses 5 to 7 of the principal notice) is revoked with effect from 1 November 2009. The three renewed exemptions are concerned with:

• allotments to members of the Fulton family under Fulton Hogan's employee share scheme;
• allotments to members of the Fulton family under Fulton Hogan's share bonus scheme;
• transfers of shares to members of the Fulton family from other Fulton family members in accordance with the exception to the pre-emptive rights contained in Fulton Hogan's constitution.

Australian Government

Reforms to the supervision of Australia's financial markets
Treasurer Wayne Swan and the Minister for Financial Services, Superannuation and Corporate Law Chris Bowen have announced changes to the supervision of Australia's financial markets that will enhance the markets' integrity and take another step towards establishing Australia as a financial services hub in the region. The Government has decided to provide for the Australian Securities and Investments Commission (ASIC) to perform supervision of real-time trading on all of Australia's domestic licensed markets. This change will mean that ASIC will now be responsible for both supervision and enforcement of the laws against misconduct on Australia's financial markets. It is intended that legislation will be introduced into Parliament next year, with ASIC to begin performing these functions in the third quarter of 2010.
Click here for further details

Diversity on boards of directors
The Corporations and Markets Advisory Committee has released its report Diversity on Boards of Directors (March 2009), responding to a request in September 2008 from the then Minister for Superannuation and Corporate Law for advice on options for creating an environment that will encourage companies to foster a governance culture that embraces diversity in the composition of their boards, in particular in relation to women.
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Australian Stock Exchange (ASX)

Reforms to the supervision of Australia's financial markets
The Australian Securities Exchange (ASX) acknowledges the announcement by the Australian Government on 24 August 2009 that ASIC will assume responsibility for the supervision of real-time trading on Australia's domestic licensed markets. The change will mean that the supervision and enforcement of market participants currently performed by ASX and the independent Disciplinary Tribunal will become the responsibility of ASIC once the proposed legislation is passed by the third quarter of 2010. Importantly, ASX will retain responsibility for the supervision of entities listed on the market it operates.
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Australian Securities and Investment Commission (ASIC)

ASIC proposes criteria for exemptions from financial market licence requirements for professional markets
ASIC has released a consultation paper and proposed regulatory guidance on criteria for exemption from Australian financial market licence provisions for professional markets. This paper deals with entities exempt from holding a financial market licence, and as such, is not affected by the Government's proposals announced on 24 August 2009 to reform the supervision of Australia's licensed financial markets. The proposed regulatory guidance, Exempt professional financial markets, is designed to inform industry and their advisors of the circumstances where ASIC may advise the Minister to exempt a market from the operation of the financial markets regime.
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ASIC consults on responsible lending conduct obligations for credit licensees
ASIC released its policy proposals on implementing the responsible lending obligations for credit licensees on 2 September 2009. This is part of the extensive consultation process that ASIC is undertaking to implement the proposed National Consumer Credit Protection Program.
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ASIC welcomes Government's announcement on new supervisory arrangements for financial markets
Treasurer Wayne Swan and Chris Bowen, Minister for Financial Services, Superannuation and Corporate Law, has announced that the Government will look to ASIC to take over the supervision and surveillance of financial markets and market participants effective third quarter 2010. Currently this function is performed by ASX Markets Supervision. Market operators such as ASX will retain supervision of listed entities.
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New Zealand Commerce Commission (NZCC)

Media releases

The NZCC has issued the following media releases:

Industry regulation and regulatory control

• Commerce Commission releases draft decisions paper on electricity distribution businesses
  The NZCC has released its draft decisions paper on the default price-quality paths to apply to electricity distribution businesses from 1 April 2010. This is the fourth paper released for consultation by the NZCC as part of a process to reset the default price-quality paths that currently apply to electricity distribution businesses under Part 4 of the Commerce Act 1986.
  Click here for more

Mergers and acquisitions

• Pfizer granted clearance to acquire Wyeth
  The NZCC has granted clearance for Pfizer Inc. to acquire Wyeth Corporation.
  Click here for more

• Schering-Plough granted clearance to merge with Merck
  The NZCC has granted clearance to Schering-Plough Corporation in respect of the proposed merger between Schering-Plough Corporation and Merck & Co., Inc.
  Click here for more

• Frucor Beverages cleared to acquire Simply Squeezed
  The NZCC has cleared Frucor Beverages Limited to acquire Simply Squeezed Holdings Ltd and/or Brownlie Brothers Ltd.
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Market behaviour

• Commerce Commission and MasterCard agree to settle credit card interchange fee proceedings
  The NZCC and MasterCard International Incorporated have signed an agreement settling the NZCC's claims that MasterCard's credit card scheme rules providing for the payment of multilateral interchange fees, together with related rules, breached the restrictive trade practices provisions of the Commerce Act.
  Click here for more

• Commerce Commission publishes draft revised leniency policy
  The NZCC is seeking feedback from interested parties on its draft revised leniency policy on cartels.
  Click here for more

Telecommunications

• Commerce Commission to defer commencement of mobile roaming investigation
  The NZCC has announced that it will not at this stage commence an investigation into whether regulation of the national mobile roaming service should be extended to include price. The NZCC will reconsider the matter after it has finalised its investigation into whether mobile termination access services should be subject to regulation.
  Click here for more

• Commerce Commission opens investigation into Telecom Wholesale loyalty offers
  The NZCC has launched an investigation into an alleged breach of the Separation Undertakings by Telecom's Wholesale business unit, following receipt of the Independent Oversight Group's findings that Telecom Wholesale's loyalty offers constitute a breach of Telecom's undertakings. The NZCC has also received complaints on the same matter.
  Click here for more

• Commerce Commission seeks leave to appeal 0867 case to Supreme Court
  The NZCC will seek leave to appeal to the Supreme Court in its case against Telecom Corporation of New Zealand Limited over Telecom's introduction of the 0867 dial-up prefix in 1999. The case relates to section 36 of the Commerce Act.
  Click here for more

Consumer issues

• Property management companies fined for Fair Trading Act breaches
  Three South Island companies involved in a scheme which misled people into believing that they were buying their own homes pleaded guilty to breaching the Fair Trading Act in the Invercargill District Court on 24 August 2009.
  Click here for more

Australian Competition and Consumer Commission (ACCC)

ACCC media releases

The ACCC has issued the following media releases:

Mergers and acquisitions

• ACCC calls for comment on proposed tax compliance software acquisition
  The ACCC has issued a Statement of Issues on the proposed acquisition of tax compliance software products from Ernst & Young Information Systems Pty Ltd by Thomson Reuters (Professional) Australia Limited. The Statement of Issues seeks further information on certain competition issues which have arisen from the ACCC's market inquiries to date.
  Click here for more

• ACCC opposes Port Botany container park acquisition by POTA NSW Pty Ltd
  The ACCC has announced that it intends to oppose the proposed acquisition of container park operator Maritime Container Services Pty Ltd by POTA NSW Pty Ltd.
  Click here for more

• ACCC calls for comment on proposed acquisition of Mobil retail assets by Caltex
  The ACCC has issued a Statement of Issues on the proposed acquisition of the retail assets of Mobil Oil Australia Pty Ltd by Caltex Australia Limited seeking further information on certain competition issues which have arisen from the ACCC's market inquiries to date.
  Click here for more

Market behaviour

• ACCC takes action against Emirates for alleged air freight price fixing
  As a result of its continued investigation into alleged price fixing in the air cargo industry, the ACCC has instituted proceedings in the Federal Court against Emirates.
  Click here for more

• ACCC seeks comment on proposed increases in postage prices
  The ACCC has released an issues paper seeking comment on Australia Post's proposal to increase prices across a number of its monopoly letter services.
  Click here for more

• ACCC grants interim authorisation to ATM sub-network fee free agreement
  The ACCC has granted interim authorisation to an agreement between members of the rediATM branded sub network of automatic teller machines not to charge each other's cardholders a fee for transactions at ATMs owned by members. Interim authorisation has also been granted for rediATM network members to coordinate the deployment of any new ATMs.
  Click here for more

• ACCC allows industry levy on bricks and masonry products
  The ACCC has allowed the continuation of an industry agreement that imposes a levy on the sale of clay bricks and concrete masonry products.
  Click here for more

• Retail gas market rules to continue in SA & WA
  The ACCC has authorised market arrangements designed to benefit consumers by promoting more efficient and competitive retail gas markets. The Retail Energy Market Company is required to publish rules that currently govern the conduct and operations of the retail gas markets in South Australia and Western Australia.
  Click here for more

• ACCC revokes interim approval as coal companies miss deadline
  The ACCC has decided to revoke interim authorisation granted in July to allow the applicants to phase in the implementation of a long term solution to ongoing capacity constraints in the Hunter Valley coal chain.
  Click here for more

• ACCC institutes proceedings against PT Garuda Indonesia Ltd for alleged price fixing of air freight
  The ACCC has instituted proceedings in the Federal Court against PT Garuda Indonesia Ltd. PT Garuda is the 10th airline to be the subject of ACCC proceedings for alleged price fixing in the air cargo industry.
  Click here for more

• ACCC sees benefit in Otway LPG joint marketing
  Plans by Woodside and Benaris International to continue jointly selling Otway Basin LPG have been reauthorised by the ACCC.
  Click here for more

• ACCC approves fixed odds wagering joint venture and totalisator pooling arrangements
  The ACCC has approved two arrangements which provide wagering services to Australian punters. The ACCC has authorised the joint supply of fixed odds betting services by TOTE Tasmania Pty Limited, ACTTAB Limited and Racing and Wagering Western Australia and the appointment of Centrebet Pty Ltd to manage these services.
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Telecommunications

• ACCC issues draft pricing principles, indicative prices for fixed line services
  The ACCC has issued its draft pricing principles and indicative prices for six fixed line wholesale services for the next three years. The draft pricing principles propose that all six services will be priced on a cost basis.
  Click here for more

Access

• Market critical in valuing water
  A well-functioning water trading market has a critical role in revealing the true value of water to existing and potential users, the Australian Economic Forum was told. Commissioner Ed Willett, of the ACCC, told the forum in Sydney that it was only when the true value was realised that water users such as irrigators would innovate and improve productivity.
  Click here for more

• ACCC issues enforcement guidelines for water market rules and water charge rules
  The ACCC has issued guidelines outlining its approach to enforcing the Water Market Rules 2009 and Water Charge (Termination Fees) Rules 2009and explaining the processes and remedies available to it to enforce compliance.
  Click here for more

• ACCC welcomes third party access to Brisbane oil storage facility
  Access to an important delivery and storage point for crude oil in Brisbane has been opened to competition in a deal assisted by the ACCC. The access requirement has been incorporated into a new lease agreement for the Lytton Tank 1020 storage facility which is located near the Port of Brisbane.
  Click here for more

Consumer issues

• ACCC takes class action on behalf of Allphones franchisees
  The ACCC has instituted class action proceedings against Allphones Retail Pty Ltd and three individuals seeking damages on behalf of 74 eligible current and former Allphones franchisees.
  Click here for more

• ACCC institutes contempt of court proceedings against Allphones
  The ACCC has instituted proceedings in the Federal Court against Allphones Retail Pty Ltd alleging contempt of court. The ACCC alleges that Allphones has breached orders which were made by Justice Foster in the Federal Court on October 9 2008.
  Click here for more

• Invoice overload: ACCC warns about questionable trade mark renewals
  The ACCC is reminding business owners to be vigilant after a spike in complaints about unsolicited letters that may appear to be trade mark renewal notices. In the past month the ACCC has received more than 150 complaints and inquiries about trade mark letters.
  Click here for more

• ACCC protects youth from misleading mobile premium service promotions
  Young consumers are better protected from misleading mobile premium service (MPS) promotions following ACCC action. As a result of the ACCC's work, the Federal Court declared Teracomm Limited, a Bulgarian MPS content provider, had engaged in misleading advertising.
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• International cooperation closes internet health cure scam
  International cooperation between Australian and American agencies has shut down an internet medical eBook scam. The ACCC has obtained final orders, by consent, in the Federal Court of Australia against two individuals, Leanne Rita Vassallo and Aaron David Smith of Cecil Hills, New South Wales, for false, misleading and deceptive conduct in relation to a health cure scam.
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• Online child car restraint recalls trigger ACCC alert
  A second recall of unsafe child car restraints by online traders has prompted a serious safety alert from ACCC Deputy Chair Peter Kell. He says the baby car seats breach the mandatory safety standard for child restraint systems for use in vehicles.
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• Allergy treatment declared misleading
  An allergy treatment provider has been found to have misled consumers about the efficacy of its treatments. Allergy Pathway Pty Ltd, formerly known as Advanced Allergy Elimination Pty Ltd, was the subject of ACCC action in the Federal Court, Melbourne.
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• 250,000 hot water bottles recalled in nation wide blitz
  A nationwide blitz on hot water bottles has resulted in more than 250,000 being recalled across Australia. The ACCC and state and territory consumer regulators have randomly checked 30 brands and preliminary tests showed more than half have failed mandatory safety standards.
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Legislation round-up

The following is an overview of the status of all legislation promulgated during the period from 19 August 2009 to 9 September 2009 or currently before Parliament.

If you require any further information or advice on any of the legislation listed below, or would like our assistance with making a submission to a select committee on any bill, please contact your usual Bell Gully adviser.

New Acts

Act	Date Act is in force
Appropriation (2009/10 Estimates) Act 2009	2 September 2009
Crown Retail Deposit Guarantee Scheme Bill 2009	Awaiting Royal assent. Passed third reading on 9 September 2009. Comes into force on the day after the date on which it receives Royal assent.
Eden Park Trust Amendment Act 2009	21 September 2009
Imprest Supply (Second for 2009/10) Act 2009	2 September 2009
Resource Management (Simplifying and Streamlining) Amendment Bill 2009	Awaiting Royal assent. Passed third reading on 9 September 2009. Comes into force on 1 October 2009.

New Regulations

Regulation	Date regulation is in force
Animal Welfare (Records and Statistics) Amendment Regulations 2009	10 September 2009
Biosecurity (Small Scale Organism Management) Amendment Order 2009	10 September 2009
Companies (Maximum Priority Amount) Order 2009	30 September 2009
Customs and Excise Amendment Act (No 3) 2008 Commencement Order 2009	Sections 5 to 7, 11, 13 to 19, 21, 22, and 24 of the Customs and Excise Amendment Act (no 3) 2008 come into force on 24 September 2009.
Deposit Takers (Non-trustee Entities Risk Management) Exemption notice 2009	1 September 2009
Education (2010 School Staffing) Order 2009	28 August 2009
Education (Early Childhood Services) Amendment Regulations (No 2) 2009	24 September 2009
Education (Extension of Application Period) Order 2009	1 November 2009
Education (Playgroups) Amendment Regulations 2009	24 September 2009
Excise and Excise-equivalent Duties (Motor Spirits) Amendment Order 2009	1 October 2009
Fisheries (Akaroa Harbour Taiapure) Amendment Order 2009	1 October 2009
Fisheries (Amateur Fishing) Amendment Regulations (No 2) 2009	1 October 2009
Fisheries (Central Area Amateur Fishing) Amendment Regulations 2009	1 October 2009
Fisheries (Central Area Commercial Fishing) Amendment Regulations (No 2) 2009	1 October 2009
Fisheries (Challenger Area Amateur Fishing) Amendment Regulations (No 2) 2009	1 October 2009
Fisheries (Commercial Fishing) Amendment Regulations (No 2) 2009	1 October 2009
Fisheries (Cost Recovery Levies for Conservation Services) Order 2009	1 October 2009
Fisheries (Cost Recovery Levies for Fisheries Services) Order 2009	1 October 2009
Fisheries (Infringement Offences) Amendment Regulations (No 3) 2009	1 October 2009
Fisheries (Reporting) Amendment Regulations (No 2) 2009	1 October 2009
Fisheries (Schedule 5) Order 2009	1 October 2009
Fisheries (South-East Area Amateur Fishing) Amendment Regulations (No 2) 2009	1 October 2009
Fisheries (South-East Area Commercial Fishing) Amendment Regulations (No 2) 2009	1 October 2009
Fisheries (Southland and Sub-Antarctic Areas Amateur Fishing) Amendment Regulations (No 3) 2009	1 October 2009
Insolvency (Maximum Priority Amount) Order 2009	30 September 2009
Land Transport Management (Apportionment and Refund of Excise Duty and Excise-Equivalent Duty) Amendment Regulations 2009	1 October 20009
Land Transport (Road User) Amendment Rule 2009	1 November 2009
Misuse of Drugs (Classification of Ketamine) Order 2009	This order comes into force on a date to be approved by an Order in Council made under section 4A(1) of the Misuse of Drugs Act 1975.
Misuse of Drugs (Presumption of Supply – Ketamine) Order 2009	This order comes into force on a date to be approved by an Order in Council made under section 4A(1) of the Misuse of Drugs Act 1975.
Queenstown Airport Bylaws Approval Order 2009	24 September 2009
Road User Charges Amendment Regulations 2009	1 October 2009
Road User Charges (Rates) Order 2009	1 October 2009
Securities Act (Crown Wholesale Debt Securities) Exemption Amendment Notice 2009	28 August 2009
Securities Markets (Investment Advisers and Brokers) Amendment Regulations 2009	1 October 2009
Securities Regulations 2009	1 October 2009
Takeovers Code (Fulton Hogan Limited) Exemption Notice (No 2) Amendment Notice 2009	Clause 5 comes into force on 1 November 2009. The rest of this notice comes into force on 28 August 2009
Takeovers Code (Rangatira Limited) Exemption Notice 2009	This notice applies to acts or omissions occurring on or after 3 October 2007

New Bills

Bill	Date of introduction	Type of bill
Biosecurity Amendment Bill	8 September 2009	Government
Child and Family Protection Bill	20 August 2009	Government
Climate Change (Government Vehicle Procurement) Bill	20 August 2009	Member’s
Credit Reforms (Responsible Lending) Bill	20 August 2009	Member’s
Crimes (Reasonable Parental Control and Correction) Amendment Bill	26 August 2009	Member’s
Education (Freedom of Association) Amendment Bill	20 August 2009	Member’s
Ngati Apa (North Island) Claims Settlement Bill	25 August 2009	Government
Whanganui Iwi (Wanganui (Kaitoke) Prison and Northern Part of Wanganui Forest) On-account Settlement Bill	25 August 2009	Government

Bills sent to select committees

Bill	Select Committee
Biosecurity Amendment Bill	Primary Production

Bills open for submissions

Bill	Select Committee	Closing date for submissions (2009)	Report due date
Antarctica (Environmental Protection: Liability Annex) Amendment Bill	Foreign Affairs, Defence and Trade	15 October	20 February 2010
Cluster Munitions (Prohibition) Bill	Foreign Affairs, Defence and Trade	10 September	28 January 2010
Education (Polytechnics) Amendment Bill	Education and Science	30 September	13 November 2009
Infrastructure Bill	Transport and Industrial Relations	18 September	13 November 2009
Inquiries Bill	Government Administration	18 September	28 January 2010
Search and Surveillance Bill	Justice and Electoral	18 September	4 February 2010
Student Loan Scheme (Exemptions and Miscellaneous Provisions) Amendment Bill	Education and Science	2 October	30 November 2009
Sustainable Biofuel Bill	Local Government and Environment	11 September	29 January 2010

Bills waiting on report back from select committees

Bill	Select Committee	Report due (2009)
Anti-Money Laundering and Countering Financing of Terrorism Bill	Foreign Affairs, Defence and Trade	15 September
Arms Amendment Bill (No 3)	Law and Order	26 February 2010
Biosecurity Amendment Bill	Primary Production	12 October
Children, Young Persons, and Their Families (Youth Courts Jurisdiction and Orders) Amendment Bill	Social Services	27 November
Corrections (Contract Management of Prisons) Amendment Bill	Law and Order	26 September
Crimes (Provocation Repeal) Amendment Bill	Justice and Electoral Committee	19 October
Franklin District Council (Contribution to Funding of Museums) Amendment Bill	Local Government and Environment	30 April 2010
Land Transport (Driver Licensing) Amendment Bill	Transport and Industrial Relations	30 June 2010
Land Transport (Enforcement Powers) Amendment Bill	Transport and Industrial Relations	18 September
Legal Services Amendment Bill	Justice and Electoral	2 October
Limitation Bill	Justice and Electoral	4 February 2010
Marine Reserves Bill	Local Government and Environment	30 December 2010
Marine Reserves (Consultation with Stakeholders) Amendment Bill	Local Government and Environment	30 December 2010
Methodist Church of New Zealand Trusts Bill	Finance and Expenditure	6 November
Motor Vehicle Sales Amendment Bill	Commerce Committee	30 December
Palmerston North Showgrounds Act Repeal Bill	Local Government and Environment	30 September
Patents Bill	Commerce	5 November
Privacy (Cross-border Information) Amendment Bill	Justice and Electoral	1 October
Private Security Personnel and Private Investigators Bill	Justice and Electoral	30 March 2010
Public Works (Offer Back of and Compensation for Acquired Land) Amendment Bill.	Local Government and Environment	17 December
Radio New Zealand Amendment Bill	Commerce	24 December
Regulatory Improvement Bill	Commerce	12 November
Reserves and Other Lands Disposal Bill	Primary Production	21 September
Residential Tenancies Amendment Bill	Social Services	5 October
Sale and Supply of Liquor and Liquor Enforcement Bill	Justice and Electoral	1 November
Sale of Liquor (Objections to Applications) Amendment Bill	Social Services	30 June 2010
Sentencing and Parole Reform Bill	Law and Order	30 September
Social Assistance (Payment of New Zealand Superannuation and Veterans Pension Overseas) Amendment Bill	Social Services	30 September
Taxation (Consequential Rate Alignment and Remedial Matters) Bill	Finance and Expenditure Committee	16 November
Trade Marks (International Treaties and Enforcement) Amendment Bill	Foreign Affairs, Defence and Trade	7 October
Vehicle Confiscation and Seizure Bill	Transport and Industrial Relations	18 September
Waikato-Tainui Raupatu Claims (Waikato River) Settlement Bill	Māori Affairs	31 December

Bills waiting for second and/or third readings

Bill	Links to select committee reports/SOPs
Aquaculture Legislation Amendment Bill (No 2)	Report of the Primary Production Committee
Children, Young Persons and Their Families Amendment Bill (No 6)	Report of the Social Services Committee
Criminal Investigations (Bodily Samples) Amendment Bill	Report of the Justice and Electoral Committee
Cultural Property (Protection in Armed Conflict) Bill	Report of the Government Administration Committee
Dog Control Amendment Bill (No 2)	Report of the Local Government and Environment Committee
Domestic Violence (Enhancing Safety) Bill	Report of the Justice and Electoral Committee
Education Amendment Bill	Report for the Education and Science committee
Electricity (Continuance of Supply) Amendment Bill	Report of the Commerce Committee
Gambling Amendment Bill (No 2)	Report of the Government Administration Committee
Gangs and Organised Crime Bill	Report of the Law and Order Committee
Immigration Bill	Report of the Transport and Industrial Relations Committee
Insolvency Amendment Bill	Report of the Commerce Committee
Judicial Matters Bill	Report of the Justice and Electoral Committee
Legal Services Amendment Bill	Report of the Justice and Electoral Committee
Local Government (Auckland Council) Bill	Report of the Auckland Governance Legislation Committee
Maori Commercial Aquaculture Claims Settlement (Regional Agreements) Amendment Bill	Report of the Maori Affairs Committee
Oaths Modernisation Bill	SOP No.103
Public Health Bill	Report of the Health Committee
Rail Network Bill	Report of the Government Administration Committee
Regulatory Responsibility Bill	Report of the Commerce Committee
Sentencing (Offender Levy) Amendment Bill	Report of the Justice and Electoral Committee
Serious Fraud Office (Abolition and Transitional Provisions) Bill	Report of the Law and Order Committee
Settlement Systems, Futures, and Emissions Units Bill	Report of the Commerce Committee
Student Loan Scheme (Repayment Bonus) Amendment	Report of the Education and Science Committee
Taxation (International Taxation, Life Insurance, and Remedial Matters) Bill	Report of the Finance and Expenditure Committee
Therapeutic Products and Medicines Bill	Report of the Government Administration Committee
Trade (Safeguard Measures) Bill	Report of the Foreign Affairs, Defence and Trade Committee
Trustee Amendment Bill	Report of the Justice and Electoral Committee
Unit Titles Bill	Report of the Social Services Committee
Waka Umanga (Māori Corporations) Bill	Report of the Māori Affairs Committee
Whakarewarewa and Roto-a-Tamaheke Vesting Bill	Report of the Māori Affairs Committee