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• Financial Sector Policy

• International Securities Law

• Trans-Tasman Securities

• Consultation on Draft Regs
• Full Text of the Agreement
• Media Statements
• Cabinet Paper
• RIS/BCCS
• Submissions
• Discussion Paper

In 2001, the Australian and New Zealand governments agreed to work towards a regime for co-ordination in the recognition of securities offerings. This work was undertaken as part of the general initiative for greater co-ordination of business law between Australia and New Zealand. After deciding on the parameters of the mutual recognition regime, New Zealand and Australian officials developed detailed proposals in 2003.

On 18 May 2004, New Zealand Commerce Minister Margaret Wilson and Ross Cameron, Australian Parliamentary Secretary to the Treasurer released a joint discussion paper outlining proposals that would allow issuers to offer securities in both Australia and New Zealand using the same offer documents and offer structure. The proposed mutual recognition regime would allow issuers to offer securities in both Australia and New Zealand using the offer documents of the home jurisdiction when offering securities in the other jurisdiction.

On 22 February 2006 Hon Lianne Dalziel and Hon Peter Costello signed an agreement underpinning the regime, noting that the details of the regime will be implemented through each country's legislation or regulations.

On 13 June 2008, New Zealand Commerce Minister Lianne Dalziel and Senator the Hon Nick Sherry, Australian Minister for Superannuation and Corporate Law, welcomed the entry into force of a landmark agreement between Australia and New Zealand that will smooth the way for businesses to raise capital and for the public to invest with greater ease in both countries.

Check for latest Media Statements below.

Documents

• Consultation on Draft Regulations  [ Published 10 September 2006 ]
  The Ministry consulted on draft regulations to give effect to the Trans-Tasman Mutual Recognition of Offers of Securities and Managed Investment Scheme Interests regime.
• Full Text of the Agreement between the Government of Australia and the Government of New Zealand in Relation to Mutual Recognition of Securities Offerings  [ Published 22 February 2006 ]
  The objective of this Agreement is to remove unnecessary regulatory barriers to trans-Tasman securities offerings.
• Media Statements
  Media statements resulting from the work to establish a mutual recognition regime.
• Cabinet Paper: Agreement between the Government of Australia and the Government of New Zealand in Relation to Mutual Recognition of Securities Offerings  [ Published 15 August 2005 ]
  This paper seeks approval for New Zealand to sign and bring into force by way of exchange of diplomatic notes an Agreement between the Government of Australia and the Government of New Zealand in relation to mutual recognition of securities offering.
• Regulatory Impact and Business Compliance Cost Statement: Agreement between the Government of Australia and the Government of New Zealand in Relation to Mutual Recognition of Securities Offerings  [ Published 15 August 2005 ]
  This RIS/BCCS considers the impact of the Trans-Tasman Treaty for the Mutual Recognition of Securities and the resulting regulatory regimes. The proposed regime will reduce compliance costs to issuers that want to offer securities across the Tasman.
• Submissions  [ Published 30 August 2004 ]
  Submissions regarding the establishment of a trans-Tasman mutual recognition arrangement governing offers of securities and managed investment scheme interests.
• Trans-Tasman Mutual Recognition of Offers of Securities and Managed Investment Scheme Interests Discussion Paper  [ Published 01 May 2004 ]
  This paper sets out a proposal for the establishment of a trans-Tasman mutual recognition regime governing offers of securities and interests in managed investment schemes, and seeks submissions on the proposal.