New Zealand Law Society - Consumer Guarantee amendment bill withdrawn

Consumer Guarantee amendment bill withdrawn

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Parliament's Economic Development, Science and Innovation Committee has released a report on the Consumer Guarantees (Removal of Unrelated Party Lender Responsibility) Amendment Bill, recommending that it does not proceed.

The report says the member in charge of the bill, National MP Shane Reti, has asked that the bill be withdrawn.

The bill sought to amend the definition of "supplier" in the Consumer Guarantees Act 1993 to exclude a lender who is an unrelated party.

It was introduced on 3 December 2015 as a Private Member's Bill and referred to the committee on 21 September 2016. The bill was reinstated in November 2017 for the 52nd Parliament, and the committee considered it between 18 November 2017 and 1 February 2018.

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