In 2022, the Minister of Commerce and Consumer Affairs commissioned an investigation into changes to credit laws introduced on 1 December 2021. This has led to further amendments to the Credit Contracts and Consumer Finance Regulations 2004 and the Responsible Lending Code. The first tranche of changes came into force on 7 July 2022, and the second tranche are in force on 4 May 2023.
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The Government is reviewing consumer credit law as part of a wider reform process for financial services. This section also includes information about previous reviews of consumer credit law.
MBIE is responsible for administering legislation relating to financial institution conduct in New Zealand.
The Government has repealed the Business Payment Practices Act 2023.
We consulted government agencies, suppliers and interested public to get their feedback on the 4th edition of the Government Procurement Rules before we presented suggested amendments to Government.
The Government has today announced plans to repeal the Business Payment Practices Act 2023.
We manage the board appointment process for a number of Crown entities, statutory bodies and advisory boards on behalf of the responsible ministers.
We are reviewing the Geographical Indications (Wine and Spirits) Registration Act 2006 (the GIs Act).
We are working to ensure that the retail payment system operates in the interests of New Zealand consumers and businesses.
The Employment Standards Legislation Act aims to encourage fair and productive workplaces and ensure employment law responds to a dynamic business environment.