Duynhoven Harry: Property Law Bill — Third Reading 
Duynhoven Harry: Property Law Bill — Third Reading 
[Volume:642;Page:12115] 
Hon HARRY DUYNHOVEN (Minister for Transport Safety) 
 on behalf of the  
Associate Minister of Justice 
: I move  
That the Property Law Bill be now read a third time 
. The Property Law Bill is of significance to New Zealanders in their everyday lives. Most people at some time buy or sell a house. Many run a small business which may involve borrowing money and leasing commercial premises. These dealings can involve mortgages and guarantees to secure loans. The property law rules apply in all of these situations and it is vital that these rules are up to date clear and accessible. 
When the Law Commission completed its review of the existing legislation in 1994 it recommended a new Act to restate and update the rules. The Law Commission at the time noted that although property law could never be described as glamorous in comparison with other areas of legal practice it is fundamental to the workings of our society. The Law Commission’s work on the report and its contribution to the introduction of the Property Law Bill has made this important revision of property law possible. 
I am grateful to the Law Commission for its assistance with the Property Law Bill and I particularly acknowledge the role of Justice Blanchard who wrote the Law Commission report and who has contributed greatly to the development of the Property Law Bill. I also thank the members of the Justice and Electoral Committee for their valuable contribution. The committee made some valuable amendments to modernise and improve the language of the bill and it also recommended a number of sensible changes to improve provisions in the bill and the practical application of its rules. 
The Property Law Bill will improve the standard of legislation on our statute book and make the law easier to understand for most New Zealanders. The bill deals with many complex technical rules that apply to dealings in real and personal property. It modernises and simplifies these rules to provide more certainty in their application which better meets people’s needs and protects people’s property rights. The bill provides a regime of property rules of general application and it clarifies the relationship of these general rules to the special property rules contained in other specific statutes. To the extent that the substantive law on property is modernised the bill is largely based on the Law Commission’s report with some changes that reflect the passing of time since then. The bill partly codifies some common law principles relating to mortgages leases and agreements for sale and purchase. The bill also makes a large number of small reforms to the rules that collectively will improve the effectiveness of the law. Property law underpins the property dealings of New Zealanders. This bill promotes clarity and enhances certainty in property dealings which will make property law work better for everyone. This bill is a major achievement in ensuring that the rules in place are fair and enhance certainty. 
The Government has demonstrated its commitment to implementing a number of Law Commission proposals. Amending legislation covering wills succession homicide arbitration trustees and of course property law have all arisen out of Law Commission reports. All of them modernise key areas of law and make the law more accessible. The manner in which this important area of law reform has been conducted is of credit to this House. I wish again to acknowledge the valuable input of both the Law Commission and the Justice and Electoral Committee on the Property Law Bill and also of members on all sides of the House who have made a positive and constructive contribution to the passage of this bill. On behalf of the Hon Clayton Cosgrove I commend this bill to the House.