996 NEW ZEALAND GAZETTE No. 36

                                                                                                         Assent No.

Local Bills

Whakatane District Council (Rates Assessment Validation) Act 1995

2

Summary of Bills Presented

This section contains a précis of all bills presented to the House this week. Not all bills presented are introduced. The introduction of a bill requires the agreement of the House.

Government Bills

Electoral Reform

Makes a number of miscellaneous amendments to the Electoral Act 1993, the Privacy Act 1993 and the Citizens Initiated Referenda Act 1993.

The amendments to the Electoral Act 1993 relate to the following areas:

• Membership of the Electoral Commission and its powers in relation to the registration of political parties;
• Functions of Returning Officers;
• Powers of the Representation Commission;
• Timeframe for receipt of an application to register as an elector after writ day;
• Procedures for objections to registration as an elector;
• Supply of information about electors;
• Use of dormant files;
• List seat vacancies, list candidates’ expenditure restrictions and advertising both for list candidates and generally;
• Order of the ballot paper;
• Designation of polling places;
• Special voting provisions for electors in remote areas; and
• Appointment of scrutineers.

The amendments to the Privacy Act 1993 are consequential on the repeal of the Electoral Act 1956 and the enactment of the Electoral Act 1993.

The amendments to the Citizens Initiated Referenda Act 1993 replace the definition of “eligible elector” and transfer responsibility for determining whether the Act’s advertising requirements have been complied with to the Chief Electoral Officer.

(Hon. D A M Graham/Referred to Electoral Law Committee).

Financial Transactions Reporting

Companion measure to the money laundering offences created in the Crimes Amendment Bill (No. 2) 1994. Facilitates enforcement of Proceeds of Crimes Act 1991. Satisfies New Zealand’s international obligations as a member of the Financial Action Task Force on Money Laundering.

• Requires financial institutions to:

  • Verify the identity of customers;
  • Report suspicious transactions to the Police; and
  • Keep records of customers and transactions for at least 5 years.

• Defines “financial institutions” as:

  • Banks, building societies, friendly societies, credit unions, life insurance agencies sharebrokers, casinos, the TAB, trustees, administration managers, investment managers of superannuation schemes, managers of unit trusts, real estate agents, lawyers, accountants;
  • Anyone whose business consists of borrowing, loaning or investing money, administering or managing funds, acting as a trustee, providing financial services that involve the transfer or exchange of funds.

• Requires anyone entering or leaving New Zealand carrying cash exceeding the prescribed threshold to report this to Customs officials; and

• Commences on 1 January 1996, with the offences commencing on 1 July 1996.

(Hon. D A M Graham/Referred to Justice and Law Reform Committee).

Banking Law Reform

Repeals the Banking Act 1982 and amends the Evidence Act 1908, the Reserve Bank of New Zealand Act 1989, and the Cheques Act 1960. Provides for three significant changes to banking law:

• A non-transferable cheque is introduced, payable only to the account of the payee named on the cheque;
• “Truncation” is permitted for the clearance of cheques, allowing banks to pay cheques on the basis of information received electronically; and
• Certain administrative requirements on banks are removed.

(Rt. Hon. W F Birch/Referred to Finance and Expenditure Committee).