Comment on corporate governance principles

Time running out for comment on corporate governance principles for New Zealand

If you want a say on corporate governance principles for New Zealand you should complete the Securities Commission’s questionnaire by the end of this week.

Submissions close tomorrow, Friday 7 November, but completed questionnaires received on Monday will be accepted.

“We urge people from all types of entities to take part, as well as advisers and other stakeholders,” Chairman Jane Diplock said.

The Commission expects to report to the Minister of Commerce before Christmas on agreed corporate governance principles which have come from the market and which market participants will aspire to in their business.

“We believe it is important for New Zealand to have a clear set of principles which entities can choose to apply to their business,” Jane Diplock said. This will signal to the world that New Zealand entities take governance seriously and are prepared to aspire to published principles.

We recognise that not everyone will agree on everything. Indeed, there are likely to be some areas where there may be considerable disagreement. However, from this process we believe an appropriate set of agreed principles can be developed.

Ultimately good governance should help businesses become more innovative, competitive and financially sustainable.

The reference paper and the questionnaire are available in hard copy directly from the Securities Commission (phone 64 4 471 7659) or can be printed from our website www.sec-com.govt.nz. Those who prefer to can complete the questionnaire electronically and submit it from the website.

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