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Select committees report on two regulatory bills

07 March 2017

Parliamentary select committees have released reports on two omnibus bills which have the objectives of reducing the chance of regulatory failure by updating existing legislation.

The bills are part of a package of three bills. The third is the Regulatory Systems (Workplace Relations) Amendment Bill.

The policy objective of each bill is to maintain the effectiveness and efficiency of the regulatory systems established by the Acts they would amend, and so reduce the change of regulatory failure.

The Regulatory Systems (Commercial Matters) Amendment Bill report from the Commerce Committee recommends that the bill be passed with amendments.

The bill seeks to make amendments in the commerce, consumer affairs, communications, energy and resources, and building and housing areas.

It proposes amendments to the Building Societies Act 1965, Commerce Act 1986, Companies Act 1993, Construction Contracts Act 2002, Fair Trading Act 1986, Energy Efficiency and Conservation Act 2000, Financial Advisers Act 2008, Financial Markets Authority Act 2011, FInancial Markets Conduct Act 2013, Financial Service Providers (Registration and Dispute Resolution) Act 2008, Friendly Societies and Credit Unions Act 1982, Gas Act 1992, Insolvency Act 2006, New Zealand Superannuation and Retirement Income Act 2001, Postal Services Act 1998, and Takeovers Act 1993.

The bill was referred to the committee on 18 October 2016 with submissions closing on 1 December 2016. The committee received 13 submissions and heard from three submitters.

The Regulatory Systems (Building and Housing) Amendment Bill report from the Local Government and Environment Committee recommends by majority that the bill be passed with amendments.

The bill proposes amendments to the Building Act 2004 and the Unit Titles Act 2010. The Building Act amendments are largely targeted at fixing minor drafting errors in the legislation.

The Unit Titles Act amendments aim to clarify and reduce unnecessary compliance burdens related to unit plans, body corporate operational rules, reassessment of ownership interests and utility interests, registration of easements and covenants, leases and licences of common property and extraordinary general meetings of a body corporate.

The committee notes that the Ministry of Business, Innovation and Employment is working on a wider review of the Unit Titles Act. It says the changes in the Regulatory Systems (Building and Housing) Amendment Bill pre-date the review and are complementary to it.

The bill was referred to the committee on 18 October 2016 with submissions closing on 2 December 2016. The committee received six submissions and heard from two submitters.

Last updated on the 16th September 2019