Explanations, please, on who made a killing from the promotion – then demotion – of Allied Farmers

February 21, 2010

Alf is hoping our Commerce Minister, the splendid Simon Power, will whistle Mark Weldon across to the Beehive this week for a “please explain”.

Weldon, of course, is the Chief Executive of the NZX and was a member of the Capital Market Development Taskforce. The task force came up with a bundle of ideas for improving that bit of our financial system.

Last week, Power was saying the Government shared the taskforce’s view that capital markets are key to improving the financial wellbeing of all New Zealanders and a vital source of finance for business.
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Greasing the wheels of commerce

July 24, 2009

While media attention has been focused on Simon Power’s plans as Minister of Justice to shake up our criminal laws, Parliament has passed two bits of legislation he introduced as Minister of Commerce a few months back.

First, there’s the Disputes Tribunal Amendment Bill, part of the Government’s business relief package announced in February in response to the global financial crisis.

The Disputes Tribunals Amendment Act 2009 will allow a cost-effective way to resolve disputes and improve access to the Disputes Tribunal.

It will increase the maximum claim level of the Disputes Tribunal from $7,500 to $15,000, or, with the consent of both parties, from $12,000 to $20,000.
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Focus goes on finance firm trustees

March 25, 2009

Those who lost their savings in the raft of finance company collapses over the past two years won’t get their money back, from a review of the Securities Act. But it does look like things will be made tougher for trustees.

A media statement from the Beehive says:

Issues raised in a recent Companies Office report about the role of corporate trustees in failed finance companies are to be addressed as part of a significant review into the Securities Act, Commerce Minister Simon Power said today.

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Easing the way for money to flow

February 18, 2009

The NZPA describes it as a recession-fighting measure, so Alf is minded to get off his chuff and take a hard look at it.

For now, he simply advises his constituents that the Securities Disclosure and Financial Advisers Amendment Bill was introduced into Parliament today by Commerce Minister Simon Power, who says it will provide greater certainty to businesses wanting to raise capital in today’s troubled markets.

There’s not a hell of a lot of high-finance capital raising in Eketahuna North at the moment, but for those with an interest in the matter, Power reckons his bill will make it easier for firms to raise capital in troubled markets.
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