Regulations to help lower transtasman barriers

The Government has released draft regulations to implement the next step in the co-ordination of business law in New Zealand and Australia.

Commerce Minister Lianne Dalziel said yesterday the draft regulations would enable mutual recognition of securities offerings, allowing issuers to offer securities in Australia and New Zealand using the documents of their home jurisdiction.

"The regime is intended to remove unnecessary regulatory barriers to transtasman securities offerings and reduce the costs of raising capital in both Australia and New Zealand," she said.

"The release of the draft regulations is the next step towards completing one of the major achievements under the memorandum of understanding on business law co-ordination between Australia and New Zealand, signed earlier this year."

Ms Dalziel said she wanted feedback on any compliance issues, so the regime could be implemented in the most cost-effective way.

- NZPA