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Financial Professional Services Trading Advice Transparency Bill (Consistent) [2021] NZBORARp 77 (1 November 2021)
Last Updated: 30 November 2021
![2021_7700.jpg](2021_7700.jpg)
1 November 2021
LEGAL ADVICE
LPA 01 01 24
Hon David Parker, Attorney-General
Consistency with the New Zealand Bill of Rights Act 1990: Financial Professional
Services Trading Advice Transparency Bill
Purpose
![2021_7701.jpg](2021_7701.jpg)
- We
have considered whether the Financial Professional Services Trading Advice
Transparency Bill (the Bill) is consistent with the
rights and freedoms affirmed
in the New Zealand Bill of Rights Act 1990 (the Bill of Rights Act).
- The
Bill amends the Companies Act 1993 and the Receiverships Act 1993 to prevent a
person from being appointed as administrator, liquidator
or receiver of a
company if the person is:
- a
professional adviser who recommended the company’s administration,
liquidation or receivership; or
- is
employed or otherwise engaged by the professional adviser or the business for
which the professional adviser was employed or otherwise
engaged when making the
recommendation.
- We
have concluded that the Bill appears to be consistent with the rights and
freedoms affirmed in the Bill of Rights Act
![2021_7702.jpg](2021_7702.jpg)
Jeff Orr
Chief Legal Counsel Office of Legal Counsel
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