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.
We produce Briefings to Incoming Ministers (BIMs) following a general election or change in minister. They provide an introduction to each portfolio and summarise key areas of policy and policy issues.
Supporting the Government’s commitment to prompt payment, local government organisations are encouraged to pay suppliers promptly and report on their payment performance.
Clear cross-business lines of oversight and accountability, including across artificial intelligence use or development, enables effective risk management.