27 November 2013 Criminalisation of directors’ duties – again Introduction On Friday, the office of Commerce Minister Craig Foss sent out another press release announcing that the Minister had tabled another Supplementary Order Paper (“SOP”) to the Companies and Limited Partnerships Amendment Bill. Under guise of lifting confidence, the SOP (the second such SOP on […]
Criminalisation of directors’ duties – again Read More »
22 November 2013 Financial Reporting Act passed Introduction The Financial Reporting Act was passed on 20 November. The announcement from the Commerce Minister’s office highlighted the removal of the requirement for SMEs to produce complex financial statements. This, he said, would remove some expensive compliance obligations for many companies with revenue between $2m and $30m
Financial Reporting Act passed Read More »
7 November 2013 Introduction The Financial Reporting Bill is presently working its way through the legislative process. When enacted, the Bill will replace the Financial Reporting Act 1993 (the 1993 Act) and amend a number of other statutes that contain financial reporting obligations for various entities. A further Supplementary Order Paper was introduced on 31
Further changes to the Financial Reporting Bill Read More »
7 November 2013 Introduction The Financial Markets Conduct Act (FMC Act) has been passed and received the assent on 13 September 2013. The FMC Act will be implemented in two phases with Phase 1 coming into effect on 1 April 2014 and the second phase on 1 December 2014. Last week, Commerce Minister Craig Foss
Consultation on new financial market regulations Read More »