Williams Andrew: Companies Amendment Bill (No 4) Limited Partnerships Amendment Bill (No 2) — Third ReadingsText is incorporated into the Bound VolumeWilliams Andrew: Companies Amendment Bill (No 4) Limited Partnerships Amendment Bill (No 2) — Third Readings[Sitting date: 24 June 2014. Volume:699;Page:18844. Text is incorporated into the Bound Volume.]ANDREW WILLIAMS (NZ First):I take a call on behalf of New Zealand First on the Companies Amendment Bill (No 4) and the Limited Partnerships Amendment Bill (No 2). At times one would wonder whether the Hon Chris Tremain is actually in the same House because having listened to that previous address and his glowing account of what the Government has done in relation to this legislation one really does wonder whether he has followed it through. The fact is that the Government should be hanging its head in shame in regard to this legislation.John Hayes: Oh what nonsense.ANDREW WILLIAMS: It is not that it is not good legislation Mr Hayes from the Wairarapa but the fact is that it has taken so long to get here. The first reading of this legislation was on 24 July 2012. The second reading of this legislation was in July 2013. That was some 2 years after it had been to Cabinet and had been brought to the attention of Cabinet. That was 2 years ago after all parties in this House had already agreed that this legislation needed to be passed. So every Government MP should be hanging their head in shame. Why has this legislation taken at least 4 years to get to its third reading in order to put in place sensible protections in terms of our commerce in New Zealand on the international stage?As a result of the inept incompetence of this Government in this area we were dropped from the white list of the European Union. I used to work as a trade commissioner for the Government of Flanders in Belgium. I spent 10 years going to and from Brussels and understanding the requirements that the European Union laid down and it absolutely appals me as a previous representative in this country of Belgium—of Brussels the capital of the European Union—that this Government can be so inept and so slow at passing some legislation that basically is here to assist New Zealand commerce to ensure that corrupt practices do not take place in this country. As a result of that we were dropped off the white list of the European Union and were taken off what was regarded as a country operating with good corporate governance oversight.John Hayes: Have you been drinking again?ANDREW WILLIAMS: Mr Hayes you have been in trade for many years. If you feel Mr Hayes that you have acted responsibly as a Government in allowing this legislation to take this long to come through this House—leaving this country exposed in the way that it has been—then I am sorry but it is no wonder this Government is consigning you to greener pastures. Quite frankly you should have known better. You should have known better Mr Hayes. Mr Hayes should have been one of the champions to ensure that this legislation got through this House much sooner than it did.John Hayes: Can we have the chairs on the Titanic now?ANDREW WILLIAMS: Now that I have got your attention again this legislation does close a lot of loopholes and avenues for operators who have flouted the law such as requiring that a director be resident in New Zealand which goes some way. There have been activities of window companies and shell companies operating here in New Zealand. Certainly as a result of this legislation some of those discrepancies and anomalies will be closed down. The legislation also gives the ability to the public to be warned about suspect entities by way of a note in the companies register. The public can be warned about anything that is perhaps of concern and a red flag can be raised in terms of some of the activities of an entity that may be operating here in this country in that regard.The legislation also increases the fines. It brings in imprisonment for a term not exceeding 5 years and a fine not exceeding $200000. Again this sends a strong message internationally that New Zealand will not condone practices of those sorts in this country. The legislation basically tidies up a lot of administrative errors in terms of some of the commerce matters under the Limited Partnerships Act and other similar Acts to do with commerce and commercial acts. It is a positive move. New Zealand First has always said that we will support good policy that tightens up laws that support New Zealand companies—and in particular our international trading sector—to be competitive on the world stage.New Zealand has a good reputation in terms of corruption. In fact in recent years the surveys have shown that we have been consistently No. 2 after Finland although after the Oravida saga this year one wonders what the ranking will be in the coming year—Hon Judith Collins: We’re actually No. 1 for the last 8 years you wally.ANDREW WILLIAMS: —once the international people do an evaluation of what the Oravida saga has drawn out in this country—Hon Judith Collins: No. 1 in the last 8 years.ANDREW WILLIAMS: —and Minister Judith Collins’ involvement in that. So it will be very interesting to see when our ranking perhaps drops from No. 2 to perhaps No. 6 or No. 7 whether maybe that Minister the Hon Judith Collins who is sitting there on the other side barking away at the moment will take responsibility for our loss of integrity.Hon Judith Collins: No. 1 in the last 8 years you fool.ANDREW WILLIAMS: Mr Assistant Speaker are you going to intervene in that? I thought that incessant interjection was not condoned in this House.Anyway moving on New Zealand First is pleased to see that this legislation is going through its third readings we are pleased to see that this will be passed into legislation this evening and we are pleased that finally this piece of legislation will be on the books for New Zealand. But for ever and a day this National Government should look seriously at itself and ask why it has taken the best part of 5 or 6 years to ensure that New Zealand commerce is protected to a greater degree in this respect.