Contract and Commercial Law Bill introduced

A bill to modernise and consolidate the laws underpinning contracts and commercial transactions has been introduced, Attorney-General Christopher Finlayson QC announced today.

“Today is a great day for the statute book,” Mr Finlayson said. “This revision Bill will assist people and businesses to find and follow the rules that apply to them, helping to reduce regulatory costs.”

Eleven contract and commercial Acts, some dating back to 1908, are consolidated into a single piece of legislation with a modern style and format. This will make the law clearer and easier to understand, without changing its substance. 

Submissions on an exposure draft of the Bill were sought by the government in October last year. Responses from the public and the legal community helped prepare the Bill for introduction. 

This is the first revision Bill on the government’s triennial statute revision programme which is the first major statute law revision exercise by any government for over 100 years. 

“The statute revision programme is part of this government’s commitment to producing an accessible, clear and up-to-date statute book for New Zealand,” Mr Finlayson said.

Parliamentary procedure for enacting revision bills is streamlined under Standing Orders as the bills contain no new policy or substantive law changes, but select committee scrutiny is retained.