The Parliamentary Secretary to the Treasurer, The Hon Chris Pearce MP recently released the draft Corporations Amendment (NZ Closer Economic Relations) Bill 2006 for public exposure.  
 
This Bill will implement the agreement between the Government of Australia and the Government of New Zealand in relation to mutual recognition of securities offerings, signed earlier this year and will reduce the filing requirements for New Zealand companies doing business in Australia. This will occur by exempting New Zealand companies operating in Australia from lodging the same information with the Australian Securities and Investments Commission that the companies have already lodged with the New Zealand Registrar of companies so preventing unnecessary duplication and cost. 
 
For more details refer the media release at http://parlsec.treasurer.gov.au/cjp/content/pressreleases/2006/032.asp.  
 
Written comments on the draft bill should be received by 13 October 2006. and may be submitted by mail, fax or email to: 
 
Corporations Amendment (NZ Closer Economic Relations) Bill 2006 
Corporations and Financial Services Division 
The Treasury 
Langton Crescent  
PARKES ACT 2600  
Fax: 02 6263 2770 
Email: CorporationsNZCERBill@treasury.gov.au  
 
The Institute is preparing a draft submission which is expected to encourage the federal Government to expand the Bill to accept for lodgement purposes Australian and NZ Financial Reports (Accounts) in both Countries, particularly as NZ is adopting IFRS (International Accounting Standards) from 2007. If you wish to have input to the Institute submission please email techsubmissions@icaa.org.au.