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Mallard Trevor: Statutes Amendment Bill — In CommitteeText is incorporated into the Bound VolumeMallard Trevor: Statutes Amendment Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:15045. Text is incorporated into the Bound Volume.]Hon TREVOR MALLARD (Labour—Hutt South): I do want to thank the Hon Chester Borrows for confirming to the Committee by way of his silence the fact that there is no good reason for this Statutes Amendment Bill to be passed under urgency; or that the only reason that it is being done under urgency is the mismanagement by the National Party whips and by Gerry Brownlee.There are a number of members around in the Chamber. I am slightly surprised that Jonathan Young has not taken a call. He is the chair of the Commerce Committee and there are massive repeated amendments based on changes in the Companies Act that run their way through this bill. I am sure he is across the top of it and that he could have made some contributions there. There are areas of change to the Defamation Act which I know is of particular interest both to myself and Judith Collins. I know that I read this very carefully in order to make sure of the effect of it; I am not absolutely certain that she did.The question that I am asking the Minister in the chair the Minister for Courts is whether there is anything in this bill that requires passing before Parliament finishes at the end of this year; if so why? Because at the Government Administration Committee other than some relatively—I am not going to say important; no relatively important compared with the other things in the bill—important changes to the Unit Titles Act we did not get the impression that there was anything that was urgent here.The question that flows from that is that given the House has over recent years developed a very good practice of having extended sittings on a Wednesday and a Thursday morning can the Minister tell us why this bill did not go through in 5 or 10 minutes during one of those extended sittings rather than coming along in a period of urgency? It is almost like the way our Parliament works. It is an invitation to have a bill that is non-contentious debated more than is appropriate and I would be very happy if the Minister could make a contribution and indicate the reasons if any. We will assume that there is no good reason and that it is his incompetence and that of Gerry Brownlee if in fact he chooses not to talk a call.
Dyson Ruth: Statutes Amendment Bill — In CommitteeText is incorporated into the Bound VolumeDyson Ruth: Statutes Amendment Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:15044. Text is incorporated into the Bound Volume.]Hon RUTH DYSON (Labour—Port Hills): Thank you Mr Chair. That is really helpful because that is my name so it is a very useful thing for you to do. Can I first of all express a little bit of surprise that the Minister who is in charge of this Statutes Amendment Bill the Hon Chester Borrows is not taking a call. When bills go through under urgency unless they are urgent it is my view that the Minister should address not only the substance of the legislation but also the reason that the bill is being put through the House under urgency.The Government Administration Committee which I have the privilege to chair spent a lot of time and effort rigorously considering the Statutes Amendment Bill which had already gone through a very good process of deliberation amongst parties. That is usual and appropriate for a Statutes Amendment Bill. It should be non-contentious. I think that this bill with the work that we put into it has been returned to the House in a better condition than that in which it was given to us. However we are now required to pass it under urgency and I think the public of New Zealand just needs an explanation for that.Labour totally supports the substance of the bill itself. Our select committee made some alterations to it and they are outlined in our select committee report so I have gotno need to go over them. I just think that it really is the mandate and the responsibility of the Minister to explain why after such good process up to this point we are considering it under urgency. I assume that it is incompetent management of the House by the Hon Gerry Brownlee but if there is some different explanation then I look forward to the Minister confirming that either by him not contradicting me or by giving a different explanation for the mismanagement and this bill therefore coming through under urgency.
Robertson H V Ross: Statutes Amendment Bill — In CommitteeText is incorporated into the Bound VolumeRobertson H V Ross: Statutes Amendment Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:15044. Text is incorporated into the Bound Volume.]The CHAIRPERSON (H V Ross Robertson): I call the honourable member the Hon Ruth Dyson.
Mallard Trevor: Statutes Amendment Bill — In CommitteeText is incorporated into the Bound VolumeMallard Trevor: Statutes Amendment Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:15043. Text is incorporated into the Bound Volume.]Hon TREVOR MALLARD (Labour—Hutt South): This is just another example of the Opposition helping the Government to do its work. The idea that the Statutes Amendment Bill which is a bill that by definition passes unanimously is all of a sudden urgent after hanging around the system for well over 12 months is just a farce. It is a sign of the very very poor organisation on the part of the Government that we are dealing with it. You are looking a bit anxious Mr Chair?The CHAIRPERSON (Lindsay Tisch): No no not all—not at all. I was interested in your comment.Hon TREVOR MALLARD: Well that makes a pleasant change for any member for you to be interested in the comments that I am making. I want to thank you. I have got a dram upstairs if you are available later.This bill is traditionally one that picks up a wide range of very minor amendments. They are circulated around all members of Parliament to make sure that there is unanimity on their passing. Hearings are held and have been held. The Government Administration Committee did some very good work under the very able chairpersonship of Ruth Dyson. We made some minor—The CHAIRPERSON (Lindsay Tisch): This is a point of order I take it?Hon TREVOR MALLARD: No not at all.The CHAIRPERSON (Lindsay Tisch): Oh it is a call. OK.Hon TREVOR MALLARD: It is a call. It is still going.The CHAIRPERSON (Lindsay Tisch): My apologies.Hon TREVOR MALLARD: I noticed you were listening intently and trying to work it out.The CHAIRPERSON (Lindsay Tisch): My apologies because the member stood on a point of order and that is why I acknowledged him on a point of order. I am happy that you are taking a call. You have got 3 minutes 29 seconds remaining.Hon TREVOR MALLARD: Thank you thank you thank you Mr Chairman.Hon Member: When are you going to get to the point?The CHAIRPERSON (Lindsay Tisch): It was a long point of order.Hon TREVOR MALLARD: With not much point to it and not a hell of a lot of order from the Chair. I am slightly lost for words and wonder whether I should start again.The point that I am making is that the bill is one that is supported unanimously. The idea of doing it under urgency is very dangerous from a Government point of view. If the Opposition was not cooperative then we would not have had it as one question. We could have debated up to four calls each on every one of these parts. It could have taken the House the entire period of urgency to deal with this. But as we have gone relatively soft under the new shadow Leader of the House and the new whips we will be cooperative and we will focus our debate on the Unit Titles Act amendments which of course should not have been part of this bill.
Upston Louise: Statutes Amendment Bill — In CommitteeText is incorporated into the Bound VolumeUpston Louise: Statutes Amendment Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:15043. Text is incorporated into the Bound Volume.]LOUISE UPSTON (Senior Whip—National): I seek leave to take the Statutes Amendment Bill as one debate.The CHAIRPERSON (Lindsay Tisch): That is Parts 1 to 30 schedules 1 to 4 and clauses 1 and 2. Leave is sought for that purpose. Is there any objection? There is no objection.
Curran Clare: Non-bank Deposit Takers Bill — In Committee Third ReadingText is incorporated into the Bound VolumeCurran Clare: Non-bank Deposit Takers Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15042. Text is incorporated into the Bound Volume.]CLARE CURRAN (Labour—Dunedin South): I will take a short call on the Non-bank Deposit Takers Bill. I spoke on the first reading of this bill back in 2011. I did not sit on the select committee that heard the submissions the Finance and Expenditure Committee but I did speak in the first reading and it has taken a long time for it to getto this point. When you look back to the genesis of this bill it actually comes out of work done by the previous Labour Government in 2005 and 2006. How many years ago was that? It was 7 years ago. It took 7 years to get this bill to this stage in the House. It came out of the Review of Financial Products and Providers. This was the second bill as part of that work which was required to implement the registered non-bank deposit taker regime and included licensing and fit and proper requirements.We support this bill obviously. I think you have heard from this side of the House that there has been quite a bit of concern around some of the measures particularly around credit unions which have not been addressed and answered by the Minister of Finance or by any of the National Party members who sat on that committee which makes you wonder whether they were actually paying attention whether this piece of legislation was just slipping through and whether the Minister in charge of this bill who I think was actually Bill English was asleep at the wheel and not really paying attention to the concerns.On the issue around credit unions which has been raised by my colleagues Clayton Cosgrove and David Clark I just want to go back to officials’ advice around their concerns. The credit unions believe that this regime should apply only to finance companies and that cooperatives should be carved out because they are different. The advice that was given—and it was very brief advice which really did not go into any detail and should have provided a lot more of an explanation—was that it would provide a legal loophole in the regime whereby simply adopting a particular form would mean falling outside the regulatory regime. I contend that that was not sufficient and that has not been properly explained by the Minister during the passage of this bill.I would also like to draw the attention of the House to a bill we discussed last night the Financial Reporting Bill where there had been a lot more intelligent discussion around some of the measures in that. That bill singled out members of friendly societies it singled out not-for-profit entities and it looked at how the regime around financial reporting would or would not apply to each of those entities. In the bill that we are discussing today that has not happened. I think that is a big mistake. However we do support this bill. It comes out of work that was done by the previous Labour Government and I commend it to the House.Bill read a third time.
Clark David: Non-bank Deposit Takers Bill — In Committee Third ReadingText is incorporated into the Bound VolumeClark David: Non-bank Deposit Takers Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15042. Text is incorporated into the Bound Volume.]Dr DAVID CLARK (Labour—Dunedin North): The point I have made consistently through this debate on the Non-bank Deposit Takers Bill is that it is a wasteful use of Parliament’s time to be shifting legislation from one place to the other. It does not make the changes perfectly that it ought to make. We have heard about the difficulties for the credit unions that are put into this bill. We know that today we have debated covered bonds in the Reserve Bank of New Zealand (Covered Bonds) Amendment Bill 2 years after they were implemented overseas. We know that the Crown Retail Deposit Guarantee Scheme may have cost the taxpayer up to $500 million because of the Government’s mismanagement. The Government is not focused on the big issues and it seems to be slow in getting this kind of legislation in place.We will support the bill because broadly it is OK. It could be better. We wish the Government would get on with supporting our export sector with worrying about the exchange rate with introducing pro-growth tax reform with bringing through increased savings with universal KiwiSaver and with looking out for ordinary Kiwis’ interests with the type of policy that we are putting forward with NZ Power and the kinds of policies like KiwiBuild which we are putting in to make sure that ordinary Kiwis can hope to own their own homes. We want a Government that is taking the interests of New Zealanders forward.This Government is sitting on its laurels. I am increasingly told by people whose doors I knock on in the weekends that this is a Government out of touch. New Zealand is going backwards under National. It does not seem to have a plan for the economy. It is disappointing that we are here debating fixes to problems that would be solved through a stronger economy. We would have more jobs if this Government was focused on the real issues if it was focused on the big changes that are needed in our economy and not just tinkering.
Goldsmith Paul: Non-bank Deposit Takers Bill — In Committee Third ReadingText is incorporated into the Bound VolumeGoldsmith Paul: Non-bank Deposit Takers Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15037. Text is incorporated into the Bound Volume.]PAUL GOLDSMITH (National): I am very pleased to speak in favour of the Non-bank Deposit Takers Bill. It is a very important piece of legislation in terms of restoring mum and dad investor confidence in our capital markets after the global financial crisis. I am glad to see that there is widespread support for this bill across the House.I do want to draw attention to just one or two changes made by the Finance and Expenditure Committee—in particular around the Reserve Bank’s powers to remove and appoint the directors of these non-bank deposit holders. I think this is an important additional power to the Reserve Bank and it should be used carefully. When the Reserve Bank has made a decision about the suitability of the directors or senior officers those persons now do have a right to appeal that decision. This was also amended to allow appeals by those who had proposed to be directors or senior officers but who were prevented from doing so by a Reserve Bank decision on their suitability. I think that is an important rule-of-law aspect to this whole equation—making sure that we have the right people in the right places but also giving them the opportunity to defend themselves. So just drawing on that I would like to support this bill in its third reading. I commend it to the House. Thank you.
Parker David: Non-bank Deposit Takers Bill — In Committee Third ReadingText is incorporated into the Bound VolumeParker David: Non-bank Deposit Takers Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15031. Text is incorporated into the Bound Volume.]Hon DAVID PARKER (Deputy Leader—Labour): The question I would like to ask the Minister in the chair the Minister for Canterbury Earthquake Recovery is about the impact of this Non-bank Deposit Takers Bill on credit unions. This bill makes changes to the prudential requirements that are imposed by the Reserve Bank and extends these measures to non-bank deposit takers. These are people who take money on deposit from New Zealanders who are investing to get an interest return but who are not a bank because the banks are already covered by the prudential requirements that are managed by the Reserve Bank on behalf of the Government.My question to the Minister in the chair is whether the extension of the new measures to non-bank deposit takers applies to credit unions and whether that is wise. We heard from credit unions at the Finance and Expenditure Committee that they are concerned at their overall level of regulation. Credit unions generally take small amounts of deposit from New Zealanders and they lend it on small amounts of loans generally in the consumer finance area. They are concerned that the measures of this bill do not overly tie them up in red tape given that they are not really posing a great risk to the New Zealand financial institutions overall because they are such a small part of the overall financial services sector. They do not want to be tied up in unnecessary regulation that causes them more trouble.There are a number of things that need to be fixed for credit unions that are not addressed by this bill. If I might I will just mention them very briefly. One is that rather than have two trustees they effectively have to have a statutory trustee and then another trustee who holds investments in their name or on their behalf. They cannot hold the investments in the name of the credit union because the credit union is not a legal purpose for banking purposes. That is not fixed by this bill.They are currently restricted from lending to non-real people so despite the fact that a lot of people who used to be employed for example by the post office are now a tied contractor through a small corporate entity which might provide services to say Chorus any loan that was made for example to such a small company for a vehicle could not be made by a credit union if it was being made to a corporate entity. Those sorts of things also need to be tidied up. I would like to hear from the Minister as to whether he has a view on that.
Macindoe Tim: Non-bank Deposit Takers Bill — In Committee Third ReadingText is incorporated into the Bound VolumeMacindoe Tim: Non-bank Deposit Takers Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15031. Text is incorporated into the Bound Volume.]TIM MACINDOE (Junior Whip—National): I seek leave for the Committee to take the parts schedules and clauses of the Non-bank Deposit Takers Bill as one question.The CHAIRPERSON (Lindsay Tisch): Leave is sought for that purpose. Is there any objection? There is no objection.
Bakshi Kanwaljit Singh: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeBakshi Kanwaljit Singh: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15031. Text is incorporated into the Bound Volume.]KANWALJIT SINGH BAKSHI (National): I support this Reserve Bank of New Zealand (Covered Bonds) Amendment Bill.Bill read a third time.
Macindoe Tim: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeMacindoe Tim: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15029. Text is incorporated into the Bound Volume.]TIM MACINDOE (National—Hamilton West): I am in favour.
Bennett David: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeBennett David: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15027. Text is incorporated into the Bound Volume.]DAVID BENNETT (National—Hamilton East): I just want to take a short call. The Reserve Bank of New Zealand (Covered Bonds) Amendment Bill has got very strong support amongst members of the House. It is a good bill which is in the best interests of New Zealand and the economy. Unfortunately the last speaker Andrew Williams from New Zealand First and the Greens speaker Russel Norman tried to put their slant on it with their economic histories but those were inaccurate speeches. This is very good bill and we look forward to it progressing.
Barry Maggie: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeBarry Maggie: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15025. Text is incorporated into the Bound Volume.]MAGGIE BARRY (National—North Shore): I rise to speak to the Reserve Bank of New Zealand (Covered Bonds) Amendment Bill in its third reading. It is a bill that enjoys universal support but you would be forgiven for not thinking that if you listened to the Opposition grumbling on.We have indeed heard a lot of stuff and nonsense from the Opposition parties. In a manner of speaking they want to reinvent the wheel. When it comes to—let us just take one aspect—the Reserve Bank they want to broaden it out and remove the independence of the Reserve Bank. It has served us well for three decades. Leave it as it is.Labour members particularly seem to be under the illusion that is going to be a body that will generate a lot of income that those members would be able to change interest rates and that the Reserve Bank in a changed role would mean a changed economy. That is of course wrong and delusional like much of Labour’s policies.I guess you know that when you look at what this bill does—and it enjoys the widespread support of the House—there is not a lot more to be said. Peddling the old arguments would just be a waste of the House’s time. So without further ado I commend this bill to the House.
Tisch Lindsay: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeTisch Lindsay: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15022. Text is incorporated into the Bound Volume.]The ASSISTANT SPEAKER (Lindsay Tisch): I am sorry to interrupt the honourable member.
Goldsmith Paul: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeGoldsmith Paul: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15019. Text is incorporated into the Bound Volume.]PAUL GOLDSMITH (National): It is my pleasure to speak on the third reading of this bill the Reserve Bank of New Zealand (Covered Bonds) Amendment Bill. Ultimately this bill is an important part of the Government’s programme to improve the resilience of the New Zealand financial system to volatility in international markets. The Reserve Bank of New Zealand (Covered Bonds) Amendment Bill establishes a legislative framework for the issuance of covered bonds by New Zealand - registeredbanks. It will provide greater clarity for investors and depositors improving on the current legal ambiguity.So under this bill the New Zealand banks issuing covered bonds will have to register their covered bond programmes with the Reserve Bank and notify the Reserve Bank of issuance of covered bonds under the programme. Legal certainty will increase economic efficiency and financial stability because the banks will not have to pay an uncertainty premium to obtain covered bond funding and because certainty will improve banks’ access to the covered bond market.Ultimately that helps promote the sound and efficient operation of our financial system and ultimately that helps by lifting our economic performance. Through that we can create jobs boost incomes improve living standards and provide the world-class public services that Kiwi families need. This bill is only a small part of the jigsaw but it all goes to create that brighter future that New Zealanders look forward to under this National Government. On that basis I commend this bill to the House. Thank you.
Tremain Chris: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeTremain Chris: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15016. Text is incorporated into the Bound Volume.]Hon CHRIS TREMAIN (Minister of Internal Affairs)on behalf of theMinister of Finance: I moveThat the Reserve Bank of New Zealand (Covered Bonds) Amendment Bill be now read a third time. The bill sets out a legislative framework for the issuance of covered bonds by New Zealand - registered banks. It will provide greater clarity for both investors in covered bonds and depositors as to the treatment of the asset securing the covered bond in the unlikely event that the issuing bank defaults.The bill establishes a registration regime for covered bond programmes. An issuer commits an offence if it issues covered bonds other than under a covered bond programme registered by the Reserve Bank. In order to be registered the programme must meet certain registration requirements. These requirements aim to ensure that the cover pool assets are effectively segregated from the bank’s other assets and a cover pool monitor is appointed to the covered bond programme to provide enhanced monitoring. Following registration there are ongoing requirements on issuers of covered bonds—in particular reporting requirements. The issuer is required to keep the register of cover pool assets up to date and the cover pool monitor must be required by their contract to assess the issuer’s compliance with that requirement.The bill then clarifies the application of the law in relation to cover pool assets of a registered covered bond programme in the event that the bank that issued the covered bonds is placed into statutory management or into liquidation. The bill includes a transition period that delays the application of the bill to existing covered bond programmes to allow time for amendments to be made to the programmes to meet the registration requirements.This bill is important as it will improve the access of New Zealand banks to offshore covered bond markets. Covered bonds enable banks to obtain finance at a reasonable cost at times when it is difficult to issue other forms of debt. Further covered bonds provide New Zealand banks with a source of long-term funding which is important to reduce the vulnerability of the New Zealand economy to sudden changes in investment sentiment. This helps to promote overall financial stability and as such it does benefit all New Zealanders.Finally I would like to thank the members of the Finance and Expenditure Committee for their prompt consideration of this bill and also officials who have engaged with the industry and with other political parties. I commend this bill to the House.
Tisch Lindsay: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeTisch Lindsay: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15009. Text is incorporated into the Bound Volume.]The CHAIRPERSON (Lindsay Tisch): Leave is sought for that purpose. Is there any objection? There is no objection.
Macindoe Tim: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third ReadingText is incorporated into the Bound VolumeMacindoe Tim: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:15009. Text is incorporated into the Bound Volume.]TIM MACINDOE (Junior Whip—National): I seek leave for the Committee to take all parts schedules and clauses of the Reserve Bank of New Zealand (Covered Bonds) Amendment Bill as one question.
Voting — Social Housing Reform (Housing Restructuring and Tenancy Matters Amendment) Bill—Recording Party VotesText is incorporated into the Bound VolumeVoting — Social Housing Reform (Housing Restructuring and Tenancy Matters Amendment) Bill—Recording Party Votes[Sitting date: 19 November 2013. Volume:695;Page:15090. Text is incorporated into the Bound Volume.]VotingSocial Housing Reform (Housing Restructuring and Tenancy Matters Amendment) Bill—Recording Party VotesGRANT ROBERTSON (Labour—Wellington Central): I seek leave for the following votes on the third reading of the Social Housing Reform (Housing Restructuring and Tenancy Matters Amendment) Bill to be recorded in theJournals: New Zealand Labour 33 votes for the Noes; Green Party 14 votes for the Noes; New Zealand First seven votes for the Noes; Mana one vote for the Noes; and Brendan Horan one vote for the Noes. This does not affect the outcome of the vote.Mr DEPUTY SPEAKER: Yes as long as members are aware that it records the position in theJournals but does not change the vote. Leave is sought for that purpose. Is there anyone opposed to that course of action? There is not. Leave is granted. TheJournals will so record that.
Prasad Rajen: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In CommitteeText is incorporated into the Bound VolumePrasad Rajen: Reserve Bank of New Zealand (Covered Bonds) Amendment Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:15008. Text is incorporated into the Bound Volume.]Dr RAJEN PRASAD (Labour): We have made good progress this evening. It is very close to the witching hour and I seek leave and suggest that we end at this point whatever the motion—The CHAIRPERSON (Lindsay Tisch): You are seeking leave for the Committee to be suspended at this time? Leave is sought for the Committee to be suspended at 2 minutes to 12. Is there objection to that course of action? There is none.
Prasad Rajen: Sittings of the HouseText is incorporated into the Bound VolumePrasad Rajen: Sittings of the House[Sitting date: 19 November 2013. Volume:695;Page:15008. Text is incorporated into the Bound Volume.]Dr RAJEN PRASAD (Labour): It seems like we have made good progress this evening. It is a late hour for starting a new bill—Mr DEPUTY SPEAKER: I would like to put the House into Committee and then take that point of order or someone else may who is the Chair.
Curran Clare: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third ReadingsText is incorporated into the Bound VolumeCurran Clare: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third Readings[Sitting date: 19 November 2013. Volume:695;Page:15008. Text is incorporated into the Bound Volume.]CLARE CURRAN (Labour—Dunedin South): Labour does support these bills the Financial Reporting Bill and Financial Reporting (Amendments to Other Enactments) Bill and most of the debate tonight has come from this side of the House. Well pretty much all of the debate has come from this side of this House as usual.One of the things that is critical when we are looking at these bills is that the primary aim of Government should be getting on with doing its job of growing and creating jobs which unfortunately is one of the things that this Government is not doing. One of the ways of doing that is reducing unnecessary compliance costs for businesses and it is creating good standards—standards of transparency and accountability—and joining the dots between those things. Unfortunately as we have heard from numerous examples given tonight whether it is the mixed-ownership model whether it is Invermay Agricultural Centre or whether it is Chorus—and there are numerous other examples—the dots are not being joined in terms of what is in these bills what the standards are that are being expected of other companies and what is actually being delivered by this Government. It does not add up.However we support these bills. There was a lot of good work done in the select committee and we commend these bills to the House.Bills read a third time.
Williams Andrew: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third ReadingsText is incorporated into the Bound VolumeWilliams Andrew: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third Readings[Sitting date: 19 November 2013. Volume:695;Page:15008. Text is incorporated into the Bound Volume.]ANDREW WILLIAMS (NZ First): New Zealand First supports theFinancial Reporting Bill and the Financial Reporting (Amendments to Other Enactments) Bill. They reduce compliance costs strengthen accountability and improve transparency. We support the bills.
Lotu-Iiga Sam: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third ReadingsText is incorporated into the Bound VolumeLotu-Iiga Sam: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third Readings[Sitting date: 19 November 2013. Volume:695;Page:15008. Text is incorporated into the Bound Volume.]Peseta SAM LOTU-IIGA (National—Maungakiekie): These bills theFinancial Reporting Bill and the Financial Reporting (Amendments to Other Enactments) Bill will improve the financial reporting system in this country. They will build a brighter bolder better future for all New Zealanders. I commend these bills to the House.
Young Jonathan: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third ReadingsText is incorporated into the Bound VolumeYoung Jonathan: Financial Reporting Bill Financial Reporting (Amendments to Other Enactments) Bill — Third Readings[Sitting date: 19 November 2013. Volume:695;Page:15003. Text is incorporated into the Bound Volume.]JONATHAN YOUNG (National—New Plymouth): I am very pleased to stand and commend this legislation arising from the Financial Reporting Bill to the House.
Robertson H V Ross: Financial Reporting Bill — In CommitteeText is incorporated into the Bound VolumeRobertson H V Ross: Financial Reporting Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:14993. Text is incorporated into the Bound Volume.]The CHAIRPERSON (H V Ross Robertson): Part 3 debate on clauses 49 to 60 includes schedules 1 and 2 stand part.
Williams Andrew: Financial Reporting Bill — In CommitteeText is incorporated into the Bound VolumeWilliams Andrew: Financial Reporting Bill — In Committee[Sitting date: 19 November 2013. Volume:695;Page:14990. Text is incorporated into the Bound Volume.]ANDREW WILLIAMS (NZ First): Thank you very much Mr Chairman for calling me and I hope you are feeling well this evening after your chocolate pudding at 7 o’clock. I chose the fresh fruit salad and I can say that 3½ hours later I feel absolutely excellent but I am sure that the heaviness will be dwelling upon you right now knowing how heavy that chocolate pudding was.Having said that we come to the Financial Reporting Bill—[Interruption] Because this is quite a dry piece of legislation and because it is heading towards 20 to 11 at night and some of us have been here since 9 o’clock this morning I guess that those ofus who have been here since 9 o’clock and who are still here at 20 to 11 at night do have the right to have a little bit of levity to try to ease the pain. But—Hon Clayton Cosgrove: It didn’t work for Maggie Barry.ANDREW WILLIAMS: No it did not work for Maggie Barry. No it did not. She had to leave—she had to leave. But anyway New Zealand First supports the Financial Reporting Bill. This is large bill that covers a lot of ground. It has had the scrutiny that it merits. But New Zealand First is satisfied that this bill represents useful improvement and will deliver actual benefits to New Zealanders.Financial reporting is at the heart of business accountability. Effective and thorough financial reporting is fundamental to public confidence in financial matters. Financial reporting must have integrity. This bill sets the ground rules for financial reporting and strengthening the reporting regime at this time makes sense. The bill reduces compliance costs while strengthening accountability and transparency.We also note that under this bill charities will be required to prepare financial performance statements in accordance with accepted accounting practices. We believe that it is only right that New Zealanders do receive adequate financial reports from the very many charities that New Zealanders are so willing to give to.Overall New Zealand First considers that the bill strikes a reasonable balance in terms of reporting requirements and does not impose excessive or burdensome reporting requirements. We see this bill as enhancing New Zealand’s economic performance which is a good thing. This is because a clear and effective set of financial reporting ground rules will establish the right context for organisations and enterprises to operate within.For these reasons New Zealand First supports this bill. It is creating credible financial reporting requirements for New Zealand. Thank you.The question was put that the amendments set out on Supplementary Order Paper 376 in the name of the Hon Craig Foss to Part 1 be agreed to.Amendments agreed to.Part 1 as amended agreed to.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14984. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat the Building Amendment Bill (No 4) be now read a third time.Ayes63New Zealand National 59; Māori Party 2; ACT New Zealand 1; United Future 1.Noes53New Zealand Labour 33; Green Party 11; New Zealand First 7; Mana 1; Independent: Horan.Bill read a third time.
Dean Jacqui: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeDean Jacqui: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14981. Text is incorporated into the Bound Volume.]JACQUI DEAN (National—Waitaki): The Building Amendment Bill (No 4) has a number of important provisions in it that will be beneficial to the building industry and most important to those New Zealanders who are contemplating building or building their home.Raymond Huo: Be a bit more passionate!JACQUI DEAN: The member opposite says “Be more passionate about it.” Well actually we are and that is why Maurice Williamson has brought this bill to the House and why the Local Government and Environment Committee has worked—Hon Maurice Williamson: There is no more passionate member than Maurice Williamson.JACQUI DEAN: There is clearly no more passionate Minister than Maurice but this is a good bill because it makes some pretty sensible changes to the Building Act. It reduces compliance costs. Who has not heard of a call to reduce compliance costs? Compliance costs for the sake of compliance costs—they are going. It reduces complexity and reduces delays by reducing reliance on building consent authorities. That is good news whatever way you look at it. It will make building contractors more accountable by requiring that they disclose information and that disclosure will contain information about the legal status of the contractor—whether they are operating under a limited liability company or not. They will have to disclose the people who will carry out the work and their track record—their work history dispute history skills and qualifications—and what if any financial back-up or insurance they have to cover the cost of fixing any faults should they be found.Other provisions in this excellent bill protect consumers by requiring written contracts for most residential building work and information in a contract could include the parties to the contract and the dispute resolution—how they are going to get around anything if there is a dispute. There are a number of aspects to this bill that do nothing but improve the safety of building work for New Zealanders and I commend the bill to the House.
Tisch Lindsay: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeTisch Lindsay: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14980. Text is incorporated into the Bound Volume.]The ASSISTANT SPEAKER (Lindsay Tisch): I am sorry to interrupt the honourable member but his time has expired.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14974. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat clause 3 be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Clause 3 agreed to.Bill reported with amendment.Report adopted.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14973. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat clause 2 as amended be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Clause 2 as amended agreed to.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14973. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat the amendments be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Amendments agreed to.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14973. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat clause 1 be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Clause 1 agreed to.The question was put that the amendments set out on Supplementary Order Paper 357 in the name of the Hon Maurice Williamson to clause 2 be agreed to.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14973. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat the schedule be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Schedule agreed to.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14973. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat Part 2 be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Part 2 agreed to.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14972. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat Part 1 as amended be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Part 1 as amended agreed to.
Vote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeVote: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14972. Text is incorporated into the Bound Volume.]A party vote was called for on the questionThat the amendments be agreed to.Ayes64New Zealand National 59; Māori Party 3; ACT New Zealand 1; United Future 1.Noes55New Zealand Labour 33; Green Party 13; New Zealand First 7; Mana 1; Independent: Horan.Amendments agreed to.
Macindoe Tim: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeMacindoe Tim: Building Amendment Bill (No 4) — Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14964. Text is incorporated into the Bound Volume.]TIM MACINDOE (Junior Whip—National): I moveThat it be an instruction to the Committee of the whole House that consideration of all parts and schedules of the Building Amendment Bill (No 4) be taken as one debate in Committee.Motion agreed to.
Macindoe Tim: Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill — Second Reading Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeMacindoe Tim: Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill — Second Reading Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14964. Text is incorporated into the Bound Volume.]TIM MACINDOE (National—Hamilton West): I also support this bill theMāori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill. I thank all members for their constructive contributions to the debate. I congratulate the Minister of Māori Affairs on bringing it to this point.Me whakanuia e tātou. [We should honour it.]Bill read a third time.
Simpson Scott: Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill — Second Reading Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeSimpson Scott: Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill — Second Reading Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14962. Text is incorporated into the Bound Volume.]SCOTT SIMPSON (National—Coromandel): It is a pleasure to take a short call in this third reading debate and to join members from across the Chamber and on the Government side in commending this bill the Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill to the House for favourable passage through the House.
Young Jonathan: Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill — Second Reading Instruction to Committee In Committee Third ReadingText is incorporated into the Bound VolumeYoung Jonathan: Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill — Second Reading Instruction to Committee In Committee Third Reading[Sitting date: 19 November 2013. Volume:695;Page:14960. Text is incorporated into the Bound Volume.]JONATHAN YOUNG (National—New Plymouth): Tēnā koe Mr Assistant Speaker. I am very pleased to stand in support of this bill the Māori Television Service (Te Aratuku Whakaata Irirangi Māori) Amendment Bill. We can celebrate 25 years of the Māori language being an official language. We now have 27 iwi radio stations broadcasting on 68 frequencies promoting Māori language and culture. I am very pleased to commend this bill to the House.