Regulatory Systems (Economic Development) Amendment Bill (No 2)

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Hon Phil Twyford

Regulatory Systems (Economic Development) Amendment Bill (No 2)

Government Bill

100—3

Contents

Key
1Title
2Commencement
3Amendments to Building Societies Act 1965
4Section 124 amended (Compulsory cancellation or suspension of registration)
5Amendments to Companies Act 1993
6Section 151 amended (Qualifications of directors)
8Section 367 repealed (Application of Official Information Act 1982 and Privacy Act 1993)
9Section 368 repealed (Appeals from decisions under section 367)
10Section 382 amended (Persons prohibited from managing companies)
11Section 383 amended (Court may disqualify directors)
12Section 391 amended (Service of documents on shareholders and creditors)
13Schedule 1 amended
14Amendments to Continental Shelf Act 1964
15Section 5 amended (Mining for minerals on continental shelf)
16Section 5A amended (Payments and contributions with respect to exploitation of continental shelf beyond 200 nautical miles)
17Section 9 amended (Act in force in Cook Islands)
18Amendments to Credit Contracts and Consumer Finance Act 2003
18ASection 4 amended (Overview)
18BSection 5 amended (Interpretation)
18CSection 9B amended (Interpretation)
19Section 9C amended (Lender responsibility principles)
19ASection 9K amended (Publication of costs of borrowing)
20Part 3A heading amended
21Section 83A amended (Outline of Part)
21ASection 83B amended (References to credit contracts include security agreements)
21BSection 83C amended (Application of Part)
21CSection 83L amended (Use of disabling device)
21DSection 83M amended (Connection or use of disabling device in connection with certain goods prohibited)
21ESection 83ZN amended (Credit contract may not provide for security interest over certain consumer goods)
21FSection 83ZO amended (Contravening provision of no effect)
22Section 99B amended (Enforcement prohibited if creditor unregistered)
23Section 102A amended (Infringement offences)
24Section 103 amended (Other offences)
25Schedule 1AA amended
26Consequential amendment to other enactment
27Amendments to Fair Trading Act 1986
28Section 30 amended (Compliance with product safety standards)
29Amendment to Financial Reporting Act 2013
30Section 20 amended (Auditing and assurance standards)
31Amendments to Geographical Indications (Wine and Spirits) Registration Act 2006
32Section 7 amended (What is registered geographical indication?)
33Section 42 amended (Register)
34Section 45 amended (Removal from register)
35Section 45A amended (Notice of proposed removal)
36Section 47A replaced (Renewal of registration)
47ARenewal of registration
37Section 47B amended (Notice of pending expiration of registration of geographical indication)
38Sections 47C and 47D and cross-heading replaced
47CProcedure if registration not renewed
47DEffect of registered-past expiry date status
39Consequential amendments to other enactment
40Amendments to Insolvency Act 2006
41Section 3 amended (Interpretation)
42Section 6 amended (Corporations and other entities not subject to Act)
43Section 8 amended (Alternatives to bankruptcy)
44Section 41 amended (Order that disposition or proposal not act of bankruptcy)
45Section 67 amended (Bankrupt must file statement of affairs with Assignee)
46Section 149 amended (Prohibition of bankrupt entering business)
47Sections 158 and 159 replaced
158Bankrupt may retain certain assets
48Section 160 amended (Retention of assets does not affect rights under charge or hire purchase agreement)
49Section 161 repealed (Retention provisions do not confer rights to other assets)
50Section 162 amended (Relative or dependant may exercise bankrupt’s right to retain assets)
50ASection 164 amended (Assignee may allow bankrupt to retain money)
51Section 165 amended (Assignee may summon bankrupt and others to be examined)
52Section 171 amended (Assignee may obtain documents)
53Section 178 amended (Record of examination)
54Section 193 amended (Extension of 2 years and 6 months periods)
55Section 233 amended (Creditor must submit creditor’s claim form)
56New sections 233A and 233B and cross-heading inserted
233AFailure to submit claim within specified time
233BFailure to claim before first distribution of assets
57Section 282 replaced (Definition of undistributed money)
282Definition of undistributed money
58Section 286 replaced (Application of undistributed money held in bankruptcy surplus account)
286Application of undistributed money held in bankruptcy surplus account
59New section 290A inserted (Automatic discharge of bankrupts who die before filing statement of affairs)
290AAutomatic discharge of bankrupts who die before filing statement of affairs
60Part 5 heading amended
61Subpart 3 heading in Part 5 replaced
62Section 340 replaced (Summary instalment order)
340Debt repayment order
63Section 341 amended (Who may apply for order)
64Section 342 amended (Form of application)
65Section 343 replaced (Assignee may make summary instalment order)
343Assignee may make debt repayment order
66Section 345 amended (Appointment of supervisor)
67Section 346 amended (Role of supervisor)
68Section 349 amended (Period of instalments)
69Section 350 amended (Variation or cancellation of order by Assignee on application from debtor, creditor, or supervisor)
70Section 350A replaced (Cancellation of order by Assignee without application)
350ACancellation of order by Assignee without application
71Section 351 amended (Effect of order)
72Section 352 amended (Proceedings against debtor)
73Section 353 amended (Supervisor must give notice of summary instalment order to creditors)
74Section 354 amended (Public register of debtors subject to current summary instalment order)
75Section 355 amended (Meaning of current summary instalment order)
76Section 356 amended (Creditor’s claim)
77Section 357 amended (Payment of debtor’s earnings to supervisor)
78Section 358 replaced (Distribution of money paid by debtor)
358Distribution of money paid by debtor
358ADischarge of debtor after distribution made
358BEffect of discharge
358CDischarge does not release partners and others
79Section 359 amended (Default by debtor)
80Section 360 amended (Offence of obtaining credit)
81Section 363 amended (Criteria for entry to no asset procedure)
82Section 374 replaced (Assignee may apply for preservation order)
374Assignee may apply for preservation order
83New sections 377C to 377E inserted
377CCourt may reverse cancellation of debtor’s debts
377DGrounds for reversing cancellation of debts
377EEffect of reversal of cancellation of debts
84Section 441 amended (Regulations)
85Section 448 amended (Purposes of public registers)
86Section 449 amended (General information that must be held in public registers)
87Section 453 amended (Search criteria)
88Section 454 amended (Search purposes)
89Consequential amendments to other enactments
90Schedule 1AA amended
91Amendments to Limited Partnerships Act 2008
92Section 8 amended (Requirements for limited partnership)
93Section 19A amended (Qualifications of general partners: natural persons)
94Section 52 amended (Application for registration)
95Section 101 amended (Restoration to register of limited partnerships)
96Consequential amendment to other enactment
97Amendments to Personal Property Securities Act 1999
98Section 139 amended (Personal property securities register)
99Section 140 amended (Contents of register)
100Section 142 amended (Data required to register financing statement)
101Section 172 amended (Search criteria)
102Consequential amendment to other enactment
103Amendments to Plant Variety Rights Act 1987
104Section 5 amended (Applications)
105Section 35 amended (Service of notices, etc)
106Consequential amendment to other enactment
107Amendments to Takeovers Act 1993
108Section 2 amended (Interpretation)
109Section 2A amended (Meaning of code company)
110New section 2AB inserted (Extended meaning of code company for purpose of completing code-regulated transactions)
2ABExtended meaning of code company for purpose of completing code-regulated transactions
111Schedule 1AA amended
112Consequential revocation of Takeovers Code (Small Code Companies) Exemption Notice 2016
113Consequential amendments to other enactment
114Amendments to Trade Marks Act 2002
115Section 5 amended (Interpretation)
116New section 7A inserted (Transitional, savings, and related provisions)
7ATransitional, savings, and related provisions
117New section 13A inserted (Trade mark not registrable if related certification trade mark owned)
13ATrade mark not registrable if related certification trade mark owned
118Section 14 amended (Additional provisions that relate to registrability of certification trade marks)
119Section 53 replaced (Reissuing certificate of registration)
53Replacement of certificate of registration
120Sections 59, 60, and 60A replaced
59Procedure for renewal of registration
60Effect of registered-past expiry date status
121Section 65 amended (Application for revocation of registration of trade mark)
122Section 66 amended (Grounds for revoking registration of trade mark)
123Section 68 amended (Revocation of registration of trade mark)
124Section 167 replaced (Security for costs)
167Commissioner or court may require security for costs
125Section 182 amended (Contents of register)
126Section 191 repealed (Declarations, etc, on behalf of certain persons)
127New Schedule 1AA inserted
128Consequential amendments to other enactment
129Amendments to Weights and Measures Act 1987
130Section 28 amended (Powers of Inspectors)
131Section 32 amended (Offences)
Legislative history

The Parliament of New Zealand enacts as follows: