Key Short-Term Issues
The following immediate priorities will be discussed with the incoming Minister of Commerce:
- appointments to the Takeovers Panel and Securities Commission will need to be advanced
- the status of the Commerce Commission (Information Sharing and Fees) Bill and supporting its introduction and progression in the House.
Legislation
A number of Bills that fall within Vote: Commerce have been carried over from the previous Parliament. Officials will want to discuss the status of these with the incoming Minister of Commerce. The Bills are:
- Geographical Indications (Wine and Spirits) Registration Bill
- Securities Legislation Bill (note that this Bill requires a Supplementary Order Paper)
- Standards and Conformance Bill 2005.
Other Bills are at an advanced stage of development (policy decisions have been taken but the Bills have not been introduced). Their status will need to be discussed with the Minister at an early stage. These are:
- Commerce Commission (Information Sharing and Fees) Bill
- Insolvency Law Reform Bill
- Limited Partnerships Bill
- Credit Unions Bill
- KiwiSaver legislation (this is being led by Treasury but we are drafting a substantial part of the Bill)
- Copyright (New Technologies and Performers' Rights) Bill.
The Tariff Act 1988 will also need to be changed to implement the tariff decisions taken on the Trans-Pacific Strategic Economic Partnership Agreement (our free trade agreement with Chile, Singapore, and Brunei) and to other agreements once negotiations are concluded.
Policy Development
Policy development is well advanced on a range of issues. Some of this relates to regulations or other work associated with the Bills noted above. In other cases, consultative documents on major policy are either in final stages of preparation, or submissions have been, or are about to be, analysed. The status of this work will need to be discussed with the Minister at an early stage. This work includes:
- regulations implementing the Mutual Recognition Regime for Securities Offerings
- regulations making technical amendments to the Takeovers Code
- regulations required to implement the Securities Legislation Bill
- policy associated with the Financial Reporting Review
- policy associated with insolvency law
- in principle policy decisions on the recommendations of the Financial Intermediaries Task Force
- a review of the Memorandum of Understanding on Business Law Coordination between Australia and New Zealand
- policy decisions on the review of domestic institutional arrangements
- the Review of Financial Products and Providers
- a review of the Temporary Safeguard Authorities Act to ensure that our legislation is fully effective in providing for urgent safeguard action that accords with WTO rules
- a dumping investigation into oral liquid paracetamol from Ireland, with a decision required by the Minister of Commerce on whether antidumping duties should be imposed
- consideration of antidumping duties on galvanised wire from Malaysia, with a decision required by the Minister of Commerce on whether these should be reassessed
- a review of antidumping duties on plasterboard from Thailand that is likely to begin shortly, with a decision required in early 2006 on whether the duty should continue or be terminated
- a minor amendment affecting dumping and subsidy investigation timeframes may be required to enhance the investigative process
- policy advice on the status of the 2006 tariff review
- policy advice associated with the change in the Regulatory Impact Analysis Unit's mandate of assessing for adequacy those regulatory impact statements that impact on business (Cabinet paper drafted for ministerial consideration)
- policy advice on developing a consistent approach to choosing, designing and negotiating appropriate vehicles for trans-Tasman cooperation.
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