The Commerce Committee of the New Zealand Parliament is aiming to update their commercial regulations. The amendment prompts to the introduction of the Regulatory Systems (Commercial Matters) Amendment Bill.
This proposed bill aims to update wide number of Acts, including the Companies Act 1993, the Fair Trading Act 1986, and the Energy Efficiency and Conservation Act 2000.
This bill specifies the following:
- Keep New Zealand’s regulatory system up to date
- Remove unnecessary compliance costs for New Zealand businesses
- Address small regulatory errors within and between different pieces of legislation
- Clarify and update statutory provisions in each amended Act.
The bill is open for public consultation until December 1, 2016.