Young Jonathan: Third Readings —Text is incorporated into the Bound VolumeYoung Jonathan: Third Readings —[Sitting date: 10 December 2013. Volume:695;Page:15393. Text is incorporated into the Bound Volume.]JONATHAN YOUNG (National—New Plymouth): I am very pleased to stand and speak on the third reading of the legislation arising from the Consumer Law Reform Bill. This is legislation that is bringing considerable change to this whole space. It would have to be known and recognised that consumers have probably had the best deal under any Government in these last 5 years when you think about the cost of imports you think about the cost of interest rates and such like. It has been a good time for consumers and perhaps a more difficult time for exporters even though our exports in this country have seen considerable increases particularly up into China bringing some great prosperity to this nation.The Consumer Law Reform Bill heard 93 submissions which we understand were heard not only here in Wellington but also in Auckland. It has brought about a significant change in a number of Acts. Those are of course the Fair Trading Act the Consumer Guarantees Act the Weights and Measures Act the Carriage of Goods Act the Sale of Goods Act and the Secondhand Dealers and Pawnbrokers Act. We have also repealed the Auctioneers Act the Door to Door Sales Act theLayby Sales Act and the Unsolicited Goods and Services Act with considerable changes in that first list of Acts that I read out. So the review of these consumer laws which commenced a number of years ago under the then Minister of Consumer Affairs presented proposals to consumer and industry representatives for the modernisation and reduction in a number of consumer laws. This review has been through a process that has not happened for about 20 years. So the changes that have taken place are very timely and very significant.One of the areas that we looked at is the term of an unfair contract and how that affects people in their dealings with business. A term is an unfair contract term only if it is declared to be such by the High Court or a District Court on the application of the Commerce Commission. This process would ensure that the Commerce Commission was given control of the enforcement of unfair contract terms. It is most likely that the Commerce Commission would be talking to firms out there that may be using unfair contract terms and see them comply prior to a declaration by the court. However it is good to see that the Commerce Commission has this area of jurisdiction because there have been in the past numbers of unfair contracts. For example a rent-to-own scheme included terms and conditions in its contracts to the effect that the consumer did not purchase the property but was granted a right to occupy the property under a 30-year instalment agreement. There were a number of contractual terms that would have been likely to have been regarded as unfair—for example the occupiers had to pay for any repairs that the investor company said needed doing and if the occupiers failed to meet a payment at any time in the 30-year period the agreement would be terminated. This is an example of an unfair contract. So this is one particular area in the consumer law reform measures that these bills and the series of Acts address that is going to bring a far better situation for consumers in our society.There is much to be said but I think I have said enough. This is great legislation it is going to bring some great benefits to consumers in New Zealand and I am very happy to commend it to the House. Thank you.