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The Regulatory Reform Bill - slashing red tape for business

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.


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