Mayne Wetherell has produced a guide to doing business in New Zealand to provide overseas investors, and their advisers, with information about investing here.
The guide summarises inbound investment, immigration, investment structures, financial services regulation, tax, securities, takeovers, intellectual property, employment, land law, and trade practices.
Useful links to market events and commentary.
Government welcomes Capital Markets 2029 Report
Commerce and Consumer Affairs Minister, Kris Faafoi, says key areas of opportunity have been highlighted in a report released today to ensure New Zealand’s capital markets continue to support sustainable economic growth. This monitoring programme assesses whether the regulatory changes made by the FMC Act are meeting intended objectives. It will be completed by 2022, allowing sufficient time for the regulation to bed-in and for long-term outcomes to emerge
Takeover Panel – Guidance Update
The Takeover Panel has recently received a number of queries relating to the compulsory acquisition process. Accordingly, the Panel has published a new Guidance Note on Compulsory Acquisition. This guidance note will help explain the compulsory acquisition process during a Code regulated takeover offer
Ngā mea waiwai o te tūranga whakataka – IoD and FMA release te reo Māori directors’ guide
The Financial Markets Authority (FMA) and Institute of Directors (IoD) have released a te reo Māori translation of The Essentials of Being a Director, coinciding with Māori Language Week. The guide was first published by the FMA and IoD in September 2018. It provides a quick reference and overview of some of the role’s key elements, including legal obligations, ethical considerations and best practice areas.
Justice Committee recommends Partnership Law Bill be passed without amendment
The bill is a revision bill and revises and re-enacts the Partnership Act 1908 in an up-to-date and accessible form without changing the Act’s substance. It will apply to new businesses and existing ones under the Partnership Act. The language and style have been modernised to make the law more accessible and reduce costs for partnerships. Minor amendments to clarify Parliament’s intent or to reconcile inconsistencies are listed in Schedule 2.
Stronger links to global financial markets to benefit economy
Financial markets legislation which has passed its third reading in Parliament will contribute to a well-functioning economy by providing New Zealand with continued access to foreign markets, Commerce and Consumer Affairs Minister Kris Faafoi said. “The Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Bill brings New Zealand into line with international reforms. It will ensure that New Zealand-based financial institutions, which operate in foreign markets, including through the use of derivatives contracts, can continue to do so with confidence.
Former Mainzeal director Richard Yan to resist bankruptcy
Former Mainzeal director Richard Yan says he'll fight pressure from liquidators at BDO after they moved to make him bankrupt. Yan is appealing the $36m awarded against him and three other former Mainzeal directors by Justice Francis Cooke in February this year. The insurers for Jenny Shipley, Clive Tilby and Peter Gomm, who were also held liable, have already provided security for their half of the $36m.