By Melissa Higham - 28 Feb 2011
The Regulatory Reform Bill, designed to slash red tape and
remove unnecessary requirements for businesses passed its first
reading last week.
The Bill, introduced by Rodney Hide, the Minister for Regulatory
Reform, is part of a broader regulatory reform agenda to improve
regulation in New Zealand. The Bill proposes amendments to 13
Acts with an aim to reducing compliance costs and saving businesses
millions of dollars a year. Proposed amendments include the
modernising of regulations by allowing for compliance through
electronic means. For example, proposed amendments to the
Companies Act include allowing shareholders to vote and participate
in a shareholder's meeting by electronic communication.