Commerce and Consumer Affairs Minister Paul Goldsmith today welcomed the Commerce select committee’s report on the Standards and Accreditation Bill which has recommended some improvements to the proposed regime.
“I would like to thank the committee and submitters who provided constructive feedback on the Bill, which is another part of the Government’s Business Growth Agenda,” Mr Goldsmith says.
“The changes to the Standards system are aimed at ensuring it is viable and well-functioning and meets the needs of business, regulators and consumers into the future.
Trade Minister Tim Groser and Commerce and Consumer Affairs Minister Paul Goldsmith today announced that Government will implement the Geographical Indications (Wine and Spirits) Registration Act.
“The Act will set up a registration regime for wine and spirit geographical indications, similar to the trademark registration regime,” Mr Groser says.
A geographical indication shows that a product comes from a specific geographical region and has special qualities or a reputation due to that origin. Well known products that are identified by geographical indications include Champagne, Scotch Whisky and Prosciutto de Parma.
Commerce and Consumer Affairs Minister Paul Goldsmith today announced new consumer credit regulations aimed at giving consumers information they need to make informed credit decisions.
“The regulations will mean New Zealand borrowers can access information that will help them compare their options when they’re borrowing money or buying goods on credit,” Mr Goldsmith says.
“The changes include a range of protections for consumers which come into effect on 6 June 2015. They improve the information lenders provide to consumers, helping them compare the rates and fees offered by all lenders before borrowing money.
Commerce and Consumer Affairs Minister Paul Goldsmith today announced the release of the Responsible Lending Code.
“We know that most lenders are already following responsible lending practises with their customers. However, a percentage of lenders – such as loan sharks and unscrupulous payday lenders – are not,” Mr Goldsmith says.
“The Responsible Lending Code provides guidance on the new lender responsibility principles set out in the Credit Contracts and Consumer Finance Act. Last year the Government amended the Act to provide greater protection for consumers when they borrow money.
Commerce and Consumer Affairs Minister Paul Goldsmith today announced the start of public consultation for a proposal to make dispute resolution schemes more accessible for homeowners in dispute over insurance claims.
“We are considering making dispute resolution schemes more accessible by increasing the compensation cap from $200,000 to $350,000 for property insurance disputes,” Mr Goldsmith says.
“Under this proposal, dispute resolution schemes will be able to consider cases where the insurer and the customer are seeking to resolve a claim discrepancy of up to $350,000.
In the National-led Government, List MP Paul Goldsmith is the Minister for Commerce and Consumer Affairs, and the Associate Minister for ACC. This website is funded by The Parliamentary Service and authorised by Paul Goldsmith MP, 107 Great South Rd, Epsom.