3. Information for Submitters
The Ministry of Economic Development has prepared this discussion document following consultation with other government officials and agencies. Written submissions on the issues raised in this document are invited from all interested parties.
How to Make a Submission
Please send your submissions to Nicolette Buddle at the contact details provided below.
Please note that the questions in the discussion document are only intended to provide a suggested focus of the issues. Some of the questions have elements that overlap with other questions. Submitters should also feel free to provide broader comments where desired if issues are not subject to specific questions. However, submitters should provide reasons for their answers or in support of their position. There is no need to address all the issues or questions, and submitters should feel free to provide submissions only on the issues of direct concern if so desired.
The closing date for submissions is: 1 September 2006 [extended to 1 October 2006].
After receiving submissions, the Ministry will evaluate them and seek further comments where necessary before developing recommendations for the Minister and then Cabinet to consider.
Copies of the Discussion Document
Hard copies of the discussion document are available on request from Nicolette Buddle at the contact details provided below.
Contact for Queries and Submissions
Please direct all submissions and any queries to:
Nicolette Buddle
Telephone: 09-985 4818
Facsimile: 09-985 4849
E-mail: financialsectorsubmissions@med.govt.nz
Postal:
Financial Sector Submissions - Financial Intermediaries
Ministry of Economic Development
PO Box 106 483
Auckland
Attention: Nicolette Buddle
Regulatory and Competition Policy Branch
Posting and Release of Submissions
The Ministry may post all or parts of any written submission on its website. The Ministry will consider you to have consented to posting by making a submission, unless you clearly specify otherwise in your submission.
In any case, content of submissions provided to the Ministry are likely to be subject to public release under the Official Information Act 1982 following requests to the Ministry (including via e-mail). Please advise if you have any objection to the release of any information contained in a submission, and in particular, which part(s) you consider should be withheld, together with the reason(s) for withholding the information. The Ministry will take into account all such objections when responding to requests for copies and information on submissions to this document under the Official Information Act 1982.
Privacy
The Privacy Act 1993 establishes certain principles with respect to the collection, use, and disclosure of information about individuals by various agencies including the Ministry. It governs access by individuals to information about themselves held by agencies. Any personal information you supply to the Ministry in the course of making a submission will be used by the Ministry only in conjunction with the matters covered by this document. Please clearly indicate in your submission if you do not wish your name to be included in any summary of submissions that the Ministry may publish.
Disclaimer
The opinions and proposals contained in this document are those of the Ministry of Economic Development and do not reflect government policy.
Readers are advised to seek specific legal advice from a qualified professional person before undertaking any action in reliance on the contents of this publication. The contents of this discussion paper must not be construed as legal advice. The Ministry does not accept any responsibility or liability whatsoever whether in contract, tort (including negligence), equity or otherwise for any action taken as a result of reading, or reliance placed on the Ministry because of having read, any part, or all, of the information in this discussion paper or for any error, inadequacy, deficiency, flaw in or omission from the discussion paper.
Process
This discussion document reflects preliminary views only on the matters raised. The submission period runs to 1 September 2006 [extended to 1 October 2006].
Following this, the process will run as follows:
- Officials will then analyse the submissions made and finalise proposals for the content and substance of the proposed legislation to submit to the Minister of Commerce in late 2006.
- A Cabinet paper will then be prepared and submitted to Cabinet by the Minister of Commerce, seeking final policy approvals for the proposed legislation and authority to provide drafting instructions to Parliamentary Counsel Office in late 2006.
- Once Cabinet policy approval is obtained, drafting instructions will be forwarded to Parliamentary Counsel Office. It is expected that drafting will take around 3-4 months to complete.
- In 2007, the draft Bill will then be presented to the Cabinet Legislation Committee and Cabinet for approval and for introduction in the House of Representatives.
Access to Current Statutes, Regulations and Bills
Current statutes and regulations may be accessed through the government's interim Public Access to Legislation website.
Acknowledgment
The Ministry would like to thank everyone who has assisted with consultation and drafting for this discussion document.
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