Macindoe Tim: Securities Disclosure and Financial Advisers Amendment Bill — In Committee 
Macindoe Tim: Securities Disclosure and Financial Advisers Amendment Bill — In Committee 
[Volume:655;Page:4984] 
TIM MACINDOE (National—Hamilton West) 
: 
 I am pleased to hear the new member for Dunedin South taking a reasonably serious response to this issue because like my admirable colleague Mr Woodhouse the future member for Dunedin North I have been particularly concerned as I have sat in the Chamber for the last three-quarters of an hour— 
Hon Members 
: Ha ha! 
TIM MACINDOE 
: It has happened before I say to members opposite and it will happen again. It was not so long ago that Dunedin North was held by the National Party and if ever the conditions were right for us to recapture the seat they have to be right now. And if ever there was a member more likely to do it it would have to be Michael Woodhouse. I look forward to seeing Mr Woodhouse emulate the feat of Richard Walls in 1975 and it is tremendous to be able to welcome the retiring member the Hon Pete Hodgson into the Chamber as I do so. 
It has been a bit disturbing to hear members opposite tonight taking a fairly cavalier approach to what is a pretty serious issue so I am delighted to be able to take a call to lend my support to the amended Part 1 of the Securities Disclosure and Financial Advisers Amendment Bill. I commend the Minister the Hon Simon Power for yet another measure that he is personally spearheading through this House. He is tackling an issue of tremendous importance to many New Zealanders. I also acknowledge the hard work of members of the Commerce Committee. Like my good friend and colleague Mr Bennett I was not a member of that committee but I am aware of the fact that a huge amount of work has gone into this bill as members have considered many amendments and I am sure they have brought forward a bill that is much improved as a result of their efforts. 
I am surprised and disappointed that although some members opposite have occasionally risen tonight to take an inaudible and incoherent call or to make the odd interjection they have broadly speaking shied away from speaking as often as they could despite apparently as we have just heard from the previous speaker and from Ms Dalziel being pretty much in favour of this measure at a time—and this is the really important point—when businesses around this country and certainly in my electorate are really crying out for capital to enable them to continue producing and trading in these incredibly challenging times. I am really pleased to be here tonight to represent those in my electorate who say that this measure is desperately needed and to stand in strong support of my colleagues who have received the same message. This is a Government that is listening to the needs of the people this is a Government that is listening to the needs of the business community and this is a Government that is producing pragmatic appropriate steps as the need arises. This legislation is definitely an approach to economic management that is finding favour in the community at large. 
I doubt whether there are many constituency MPs who are not being contacted by local business owners in their electorates almost on a daily basis who urgently need to be able to raise capital to continue operating to continue employing and to continue producing and trading to earn foreign exchange. 
Hon Lianne Dalziel 
: How many of them issue prospectuses? Seriously how many have contacted you? 
TIM MACINDOE 
: Undoubtedly that is why most submitters I tell Ms Dalziel were in favour of the overall thrust of this bill—she can carry on talking but she has to say something that is worth listening to—and in particular in favour of a simplified disclosure regime. 
My colleague Aaron Gilmore drew on his vast international and commercial experience to highlight the obvious benefits of this measure much to the obvious delight of Opposition members and we on this side of the Chamber share their deep appreciation of his expertise. As he and my colleague the member for Napier both noted this bill is yet another important measure in the National Government’s prudent pragmatic and determined commitment to guide New Zealand through—let us remember—the worst global recession not only in my lifetime but since the great recession of the 1930s. Inevitably with a measure— 
Hon Lianne Dalziel 
: Look how many issuers have approached you? Tell me; name one. Name one issuer— 
TIM MACINDOE 
: I could name many of my constituents but as an experienced member like Ms Dalziel well knows that would be totally inappropriate. However I am more than happy to have that discussion with her outside this Chamber and look forward to doing so very soon. There will always be some who claim that a Government is not going far enough and sure enough that came through in the submissions.