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Economic Development Minister Steven Joyce and Commerce Minister Craig Foss today formally launched the New Zealand Business Number (NZBN) at Xero in Wellington.

The NZBN is a core initiative of the Government’s Better Public Services for business (Result 9) programme, which is designed to make it easier for businesses to work with government. It is proposed that a single identifying number is assigned to all businesses, government agencies and commercial entities in New Zealand.

Commerce Minister Craig Foss has announced an exemption to cut compliance costs for employee share schemes as part of the Financial Markets Conduct Act implementation.

“New exemption rules will open up possibilities for employers to offer share purchase schemes, enabling employees to take an ownership stake in the business they work for. This creates a practical way for businesses, especially start-ups to attract and retain talent,” says Mr Foss.

Commerce Minister Craig Foss today tabled in Parliament the Government’s response to the Law Commission’s report A New Act for Incorporated Societies.

“The Law Commission has produced a comprehensive report, outlining a number of recommendations to modernise the Incorporated Societies Act 1908.  The recommendations seek to improve guidance for people who run incorporated societies, including how to manage disputes.

Commerce Minister Craig Foss today announced Cabinet has approved regulations for crowd funding and peer-to-peer lending as part of the Government’s financial market overhaul.

Mr Foss has announced that there will be no investor caps for equity crowd-funding, other than the previously announced $2 million cap that a company can raise through crowd funding each year.

Commerce Minister Craig Foss has welcomed a Commerce Commission investigation into alleged anti-competitive conduct in the New Zealand supermarket sector.

“Concerning allegations have been made against a major New Zealand supermarket chain. Given the nature of these allegations I believe it is appropriate that the Commerce Commission formally investigates,” says Mr Foss.

Commerce Minister Craig Foss today announced the appointment of Graeme Mitchell as Chair of the External Reporting Board (XRB) for a five year term.

“Graeme Mitchell is currently deputy Chair of the XRB. He has significant governance experience and a comprehensive understanding of financial reporting for a range of entities in both the private and public sectors,” says Mr Foss.

Mr Mitchell replaces Kevin Simpkins whose appointment term expires on 28 February 2014.

Broadcasting Minister Craig Foss has welcomed an announcement that Attitude Pictures has been awarded the online broadcast rights for the Sochi 2014 Paralympic Winter Games.

Attitude Pictures is collaborating with NZ On Air, ACC and TVNZ to make coverage of the 2014 Paralympic Winter Games possible.

“I am delighted that New Zealanders will be able to watch our Paralympic athletes on either TVNZ or AttitudeLive.com.

Commerce Minister Craig Foss today announced the appointment of Sarah Bacon to the Copyright Tribunal for a term of three years.

“Mrs Bacon has a solid background in intellectual property and has extensive experience in court and tribunal proceedings,” says Mr Foss.

Mrs Bacon will join Professor Susy Frankel (Chairperson), Paul Sumpter, Peter Dengate-Thrush, Jane Glover and Warwick Smith as the current Tribunal members.

Background:

A Bill making the accounting and audit industry more efficient passed its first reading in parliament today.

The Accounting Infrastructure Reform Bill will promote competition and support an improved international outlook for the accounting industry in New Zealand.

“A robust audit industry provides improved assurance for users of financial statements.  This will further build confidence in our financial markets as part of our Business Growth Agenda,” says Mr Foss.

Commerce Minister Craig Foss today announced the reappointment of John Lumsden as Chair of the Standards Council, and the reappointment of six members.

The reappointed members are Dr Sharon Kletchko, Fay Sowerby, Richard Gibbons, John Hannah, Vaughan Renner and Michael Wallmannsberger.

Commerce Minister Craig Foss today announced the reappointments of Dr Mark Berry as Chair and Sue Begg as Deputy Chair of the Commerce Commission.

“These reappointments will maintain continuity in the leadership of the Commerce Commission. This is particularly important as the Commission prepares to implement significant reforms in competition, consumer credit and consumer laws, as well as further progress a comprehensive regulatory work programme,” says Mr Foss.

Broadcasting Minister Craig Foss today announced the appointment of Donna Grant to the board of New Zealand On Air.

Ms Grant is currently national director of the National Institute of Performing Arts Te Whare Wānanga o Awanuiārangi. She is also executive director of the Manaakitanga Aotearoa Charitable Trust, a private training establishment.

“Donna’s considerable governance experience gained from serving on community, sports and Māori performing arts boards will add depth and useful perspective to the board” Mr Foss says.

Commerce Minister Craig Foss has released the second set of draft regulations to bring the Financial Markets Conduct (FMC) Act 2013 into effect.

“The FMC Act governs how financial products are promoted and sold and contributes to the Government’s Business Growth Agenda to build New Zealand’s capital markets and drive business growth,” says Mr Foss.

Broadcasting Minister Craig Foss met with Chinese officials negotiating the China-NZ television co-production agreement in China today.

Negotiations began in 2010, when New Zealand and China signed a film-only co-production agreement. Mr Foss met with Vice Minister Nie Chen Xi in Beijing to discuss the benefits of television production collaboration between the two countries.

“New Zealand is now on track to become the first country to have signed a television co-production agreement with China,” says Mr Foss.

Commerce Minister Craig Foss has today released a discussion paper for public consultation on the Patents Act 2013.

“The paper focusses on regulations that will give effect to a more consistent, high quality patent examination process. The new legislation will strengthen the criteria for granting a patent to ensure genuine innovations, which are novel and useful, are protected,” says Mr Foss.

The Intellectual Property Office of New Zealand (IPONZ) is seeking feedback on proposed regulations, including:

A Bill that will strengthen consumer rights, simplify business compliance and ensure consumer protections are clear and accessible has passed its third reading in Parliament today says Consumer Affairs Minister Craig Foss.

“The Consumer Law Reform Bill represents the most significant change to New Zealand’s consumer law in more than twenty years.

Broadcasting Minister Craig Foss will visit Beijing next week to progress a China-NZ television co-production agreement.

Mr Foss will be hosted by Minister of the State General Administration for Press, Publication, Radio and Television, Mr Cai Fuchao to discuss the television co-production agreement under negotiation.

“I look forward to meeting with my Chinese counterparts and exploring the opportunities available to both NZ and China in the television co-production space.

Commerce Minister Craig Foss today announced the appointment of Jane Taylor as a member of the External Reporting Board (XRB) for a five year term.

“Jane Taylor has worked in various industries across the public and private sector and her blend of legal, financial and governance experience will be particularly valuable to the XRB as it continues to develop our financial reporting framework under the Financial Reporting Act 2013,” says Mr Foss.

Ms Taylor is succeeding Ralph Simpson who has resigned from the Board.

More than 200 New Zealand businesses have taken advantage of the Madrid Protocol in the 12-months since New Zealand signed up to the international trade-mark treaty announced Commerce Minister Craig Foss today.

New Zealand signed up to the Protocol in December 2013. The online system enables entrepreneurs to file an international trade mark application through the Intellectual Property Office of New Zealand (IPONZ) and automatically have their application recognised and processed for other jurisdictions,” says Mr Foss.

Commerce Minister Craig Foss has welcomed the creation of a new financial literacy consortium – The Exchange.

Major financial institutions will make up The Exchange’s membership. These members will meet to share relevant information about financial literacy projects and allocate resources as they see appropriate to improve financial literacy in New Zealand. The Exchange will cooperate with the Commission for Financial Literacy and Retirement Income with their on-going financial literacy strategy.

New Zealand television is now a digital-only zone after the analogue signal was switched off by Broadcasting Minister Craig Foss.

Mr Foss switched off the Waiatarua TV Tower analogue transmitter at 2am this morning, marking the end of a three year campaign to ensure New Zealand households were ready for the digital transition.

“This is a significant milestone in the history of New Zealand television. Scheduled analogue services have been operating since the 1960s, when New Zealanders had access to just one channel for a few hours each night.

Broadcasting Minister Craig Foss has acknowledged the work of NZ On Air and the Media Access Charitable Trust as New Zealand’s captioning service moves out of TVNZ after 25 years.

New Zealand’s captioning service, previously part of TVNZ, is now a stand-alone service known as Able, run by the Media Access Trust and funded by NZ On Air.

“I would like to congratulate all involved in a smooth transition and continued commitment to make Kiwi content accessible to as many New Zealanders as possible,” says Mr Foss.

Commerce Minister Craig Foss today welcomed the appointment of Rob Everett as chief executive of the Financial Markets Authority.

“Mr Everett’s legal and compliance experience will have him well prepared for his role at the FMA and in facilitating the development of fair, efficient and transparent financial markets,” says Mr Foss.

Broadcasting Minister Craig Foss says Auckland residents need to be prepared as analogue television will be switched off this weekend.

Auckland and the upper North Island will be the final region to make the switch to digital television at 2am Sunday 1 December.

“Latest research shows that while most people have taken steps to ensure they are ready, there could be up to 49,000 households left without a working television on Sunday,” says Mr Foss.