Portfolio: Commerce

The future of New Zealand competition law

Beehive — Mon, 28 May 2012 04:20:00 +0000

Craig Foss | Commerce

Thank you for the introduction and for inviting me to speak today. Based on the calibre of presenters and the agenda for the next two days, this year’s conference will no doubt provide some challenging and stimulating discussion around competition law, policy and regulation in New Zealand. I would like to start by explaining the government’s key policy objectives, because these drive the reforms. At the broadest level, the government has four key policy objectives for the next three years. These are: ...

Changes build on success of KiwiSaver

Admin — Thu, 24 May 2012 02:44:00 +0000

Bill English | Budget 2012

Budget 2012 makes changes that will further improve KiwiSaver and lift investor confidence, Finance Minister Bill English and Commerce Minister Craig Foss say. “The Government is committed to lifting national savings to reduce New Zealand’s longstanding debt to overseas lenders and to deepen our capital markets, so businesses can access the funds they need to grow,” Mr English says. ...

IPONZ hits online registration milestone

Admin — Sun, 13 May 2012 05:30:00 +0000

Craig Foss | Commerce

Commerce Minister Craig Foss has congratulated the Intellectual Property Office of New Zealand (IPONZ) on its world-leading online registration system. “This new system is the best in the world. It removes the need for paper filing, cuts down on processing times, reduces compliance burdens and introduces much greater capabilities for Kiwi entrepreneurs,” says Mr Foss. More than 4520 trade mark applications and 365 design applications have been lodged since the site went live three months ago. ...

New auditor regulations in force

Admin — Tue, 01 May 2012 02:16:00 +0000

Craig Foss | Commerce

A transitional auditor licencing scheme was welcomed by Commerce Minister Craig Foss when it came into force today. “Trustworthy and transparent auditing is essential to creating a culture that encourages Kiwis to invest,” says Mr Foss. The Auditor Regulation Act establishes a new licencing regime for major audits, such as the audits of issuers, banks and insurers” The Act comes into force on 1 July 2012. ...

Minister celebrates PPSR milestone

Admin — Mon, 30 Apr 2012 21:44:00 +0000

Craig Foss | Commerce

Commerce Minister Craig Foss has welcomed the 10-year anniversary of the Personal Property Securities Register. “Ten years ago New Zealand became the first country to launch a fully-electronic online securities register, “In the decade since, the PPSR has proved to be a vital tool for businesses, allowing them to register leased goods or collateral and protect these goods in case their customers go bankrupt, “There are now almost six million personal property statements on the register” says Mr Foss. ...

Discussion paper on registered charities released

Beehive — Mon, 23 Apr 2012 00:22:00 +0000

Craig Foss | Commerce

Commerce Minister, Craig Foss has released a discussion paper calling for higher levels of transparency and accountability from New Zealand’s largest charities. “Charities in New Zealand do excellent work. Most are staffed with volunteers and deserve the donations they receive,” says Mr Foss. “The changes under consideration will only affect the largest 20 per cent of charities in New Zealand and leave smaller charities unaffected,” says Mr Foss. ...

Single Economic Market Outcomes progress report released

Beehive — Fri, 13 Apr 2012 08:05:00 +0000

Craig Foss | Commerce

Minister of Commerce, Craig Foss met with Australian Parliamentary Secretary to the Treasurer, Bernie Ripoll in Sydney today to discuss progress towards realising the long term vision of creating a seamless trans-Tasman business environment. Mr Foss and Mr Ripoll welcomed further progress towards a Trans-Tasman Single Economic Market (SEM) following the release of the Trans-Tasman Outcomes Implementation Group biannual report. ...

NZ a world leader in online trade mark registration

Beehive — Wed, 04 Apr 2012 03:57:00 +0000

Craig Foss | Commerce

New Zealand is a step closer to joining an international protocol that will make it easier for entrepreneurs to protect their ideas, Commerce Minister Craig Foss announced today. Mr Foss met with the Director General of the World Intellectual Property Organisation, Mr Francis Gurry at Parliament today, to discuss New Zealand’s accession to the Madrid Protocol. ...

Reappointment of Deputy Chairperson to Testing Laboratory Registration Council

Beehive — Fri, 30 Mar 2012 03:52:00 +0000

Craig Foss | Commerce

Commerce Minister Craig Foss today announced the reappointment of James Hill as the Deputy Chairperson of the Testing Laboratory Registration Council. “Mr Hill has strong governance experience as a director and chairperson of numerous private and public sector boards. He has also been acting as the Council chairperson since September 2011” says Mr Foss. Mr Hill’s second term of three years commences on 1 April 2012. ...

Government welcomes results of inquiry into finance company failures

Beehive — Thu, 29 Mar 2012 01:25:00 +0000

Craig Foss | Commerce

Commerce Minister Craig Foss has welcomed the findings of a Commerce Select Committee inquiry into finance company failures and says the government supports the general nature of its recommendations. “The Commerce Select Committee has done an excellent job of investigating issues relating to finance company failures and made sensible recommendations,” says Mr Foss. ...

Financial Markets Conduct Bill passes first reading

Beehive — Thu, 08 Mar 2012 01:57:00 +0000

Craig Foss | Commerce

A bill that is critical to restoring investor confidence in New Zealand’s financial markets passed its first reading in Parliament today. Commerce Minister Craig Foss says the Financial Markets Conduct Bill provides a once-in-a-generation opportunity to make New Zealand’s financial markets more efficient. The Bill is the result of a comprehensive review of securities law and builds on recommendations from the Capital Markets Taskforce, effects of the global financial crisis, and the failure of finance companies. ...