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Law Practitioners, Technology

Smart Contracts and Web 3.0: The Evolution of Law? (3 May 2017) (USA)

www.scl.org

Think about the last time you lent money to a friend. You probably did it because you trust them. Now when was the last time you invested in an Argentinian winemaker? An Indian start-up? What about the Filipino engineer who needs to patent his idea? These might all be great investments, but...

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Law Practitioners

Meet the Woman Helping Other Women Start Law Firms (2 May 2017) (USA)

Bloomberg Law

How many women owned law firms are there in the U.S.? Nobody appears to know, according to Nicole Galli, a Big Law refuge who launched her own firm in 2015. This week, Galli and others formally launched Women Owned Law, an organization dedicated to helping other women legal entrepreneurs...

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Banking and Finance, Company

Corporate Reporter - Issue No. 45 (2 May 2017) (NZ)

Bell Gully

Items in this issue include: New Contract and Commercial Law Act 2017, Changes proposed for the Takeovers Code, Amendments to the Companies Act to reduce compliance costs, Latest FMA consultations and publications, Select Committee considers amendments to the AML/CFT...

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Banking and Finance

Financial Regulation Update – May 2017 (3 May 2017) (NZ)

Russell McVeagh

In this issue: Guilty plea in FMA insider trading case; FMA drops obstruction charges FMA warns 12 entities for breaches of Anti-Money Laundering and Countering Financing of Terrorism Act 2009 FMA files charges for unregistered provision of financial service Individual...

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Law Practitioners

How to develop a law firm app (1 May 2017) (AUS)

Lawyersweekly.com.au

In the US, the market has been shifting increasingly away from websites to apps. What is an app? Basically an icon that downloads a website to your smartphone. The advantage of an app is you do not have to keep typing web address into Google or Safari browsers. Apps are effective because a...

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Intellectual Property

Eminem v National Party: copyright case over song ‘Lose Yourself’ (2 May 2017) (NZ)

A J Park

The trial has begun for the long-running battle between the owners of the copyright in the Eminem song ‘Lose Yourself’, and various parties (including the National Party) who are alleged to have infringed that copyright. In 2014 the National Party ran an election campaign...

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Intellectual Property

Lacoste shakes up New Zealand trade mark law (1 May 2017 ) (NZ)

A J Park

Most businesses know the importance of registering trade marks. But registration is only the first step. It’s just as important to keep track of intellectual property as a business evolves, or else trade marks may become vulnerable to revocation. The Supreme Court’s recent decision...

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Banking and Finance, Employment

New Zealand – employee share scheme changes (27 April 2017) (NZ)

Russell McVeagh

The Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill was introduced in New Zealand’s Parliament on 6 April 2017. The Bill proposes amendments to New Zealand’s tax laws relating to the collection of employment and investment income...

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Privacy, Technology

What's in a name? (28 April 2017) (NZ)

Buddle Findlay

New Zealand's Privacy Act provides a number of enforcement options to deal with information privacy breaches by organisations holding and using personal information (referred to in the Act as 'agencies'). Those powers have not, however, changed significantly since the Act first received royal...

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Contract, Technology

Raising Arizona: Should New Zealand recognise blockchain signatures and smart contracts in our Electronic Transactions Act? (27 April 2017) (NZ)

Bell Gully

The State of Arizona has passed a ground-breaking law confirming that smart contracts and blockchain-based signatures have the protection of its Electronic Transactions Act. The Arizona Electronic Transactions Act (the Arizona ETA) provides that records or signatures in “electronic...

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Banking and Finance, Taxation

Withholding tax payments accelerated on related party loans with retrospective effect (27 April 2017) (NZ)

Bell Gully

A recent law change targeting related party loans will accelerate the payment of non-resident withholding tax (NRWT) for some New Zealand borrowers. Significantly, the new rules will have retrospective effect for some existing related party loans. The changes will impact cross-border...

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Building, Construction

Construction Bulletin April 2017 - Market Activity (27 April 2017) (NZ)

Minter Ellison Rudd Watts

In this issue: Accommodation Crisis in Edgecumbe - A third of Edgecumbe households to require accommodation support following Cyclone Cook Building Boom Creates Business for Manufacturers - Manufacturing's fortunes are typically linked to construction with building booms providing...

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Employment, Immigration

Significant Immigration Policy Reforms – “Tweaks” That Will Actually Have a Major Impact (26 April 2017) (NZ)

Lane Neave

The Government announcement yesterday on the proposed changes to Immigration New Zealand (INZ) policy may have been interpreted as minor tweaks to resolve some of the recent issues identified in the policy and in some circles not gone far enough to address these perceived problems. However, they...

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Intellectual Property

When is toothpaste, not toothpaste? When it's a nurdle ... (25 April 2017) (NZ)

Hudson Gavin Martin

The Assistant Commissioner of Trade Marks has recently held that the striped logo on the packaging below is not a representation of toothpaste. At first, this seems difficult to understand although the Assistant Commissioner has relied on expert evidence in deciding so. The owner of the...

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Employment

Breakthrough for pay equity - an historic settlement and new Bill (24 April 2017) (NZ)

Bell Gully

On 18 April 2017, the Government entered into a legal settlement which has been described as providing the largest pay increase in New Zealand’s history. The settlement recognises that support workers in aged care, disability residential care, and home and community support services...

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Intellectual Property, Technology

Deadline set to stake a claim in conflicted .nz domain names (24 April 2017) (NZ)

A J Park

If you own a conflicted New Zealand domain name and you want a say in who gets the shorter .nz version, you must register your preference by 18 October 2017. The Domain Name Commission has changed its policy on ‘conflicted’ second-level .nz domains. The change in policy means some...

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Environment, Maori, Resource Management

Mana Whakahono-a-Rohe: Iwi Participation Arrangements (21 April 2017) (NZ)

Kensington Swan

“The commitment to Mana Whakahono-a-Rohe agreements is ground-breaking as we at last have a universal vehicle through which iwi and Councils can develop a deeper understanding and agree collaborative arrangements that protect our natural ecosystems and enable sustainable development...

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Tort

Mountaineer’s knee – object lesson in negligence law (21 April 2017) (NZ)

Chapman Tripp

The building blocks for most claims in contract and negligence are deceptively simple - claimants must establish that they were owed a duty, that the duty holder breached that duty and that the breach caused them to suffer loss. But, as a recent judgment of the UK Supreme Court reminds us,...

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Resource Management

Time for leadership, not yet more reform (21 April 2017) (NZ)

Buddle Findlay

In 2015 the Productivity Commission began an inquiry into New Zealand's urban planning system. The Commission released its report titled Better Urban Planning on 29 March 2017. The Commission's report criticised the functioning of the current system, focusing largely on perceived problems...

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Privacy, Technology

Does the law in Australasia support organisations archiving their email databases on the cloud? (20 April 2017) (NZ)

Wigley + Company

Archiving emails with cloud providers brings benefits such as cost efficiencies,searchability, and potentially) better security and reliability. Privacy and cybersecurity law applicable to Australian and NZ organisations permits this, so long as particular requirements are met. However, there...

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Technology

Why data is changing everything, everywhere - including NZ (19 April 2017) (NZ)

Hudson Gavin Martin

Maximising the value of customer data is the focus of new personalised marketing models, but significant organisational change is needed to extract that value. Customer data is now everything, and an increasingly valuable part of businesses everywhere - it lies at the very heart of the new...

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Employment

The Government's pay equity deal – what will it mean for employers? (19 April 2017) (NZ)

Simpson Grierson

Yesterday, the Government announced that it has entered into a 'pay equity' settlement in relation to the government-funded service sectors of aged residential care, home support and disability services. It has been reported that the settlement will cover 55,000 care workers, providing them...

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Company

M&A Activity in New Zealand – April 2017 Update (19 April 2017) (NZ)

Russell McVeagh

In this issue: Key Developments – Takeovers Code Changes Current Trends – Schemes of Arrangement Overseas Investment Office Developments Current OIO Timing Our Recent Work Read more

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Resource Management

RMA reforms – tinker, tailor, soldier on (19 April 2017) (NZ)

Chapman Tripp

The Resource Legislation Amendment Bill has passed its third reading, marking the most significant change to the RMA since 2009. Most changes will come into effect immediately. The new Act adds the following tools to central government's inventory: “National Planning...

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Employment

Legal update - Three Bills in train (19 April 2017) (NZ)

Buddle Findlay

There are currently three employment-related Bills progressing through Parliament, one of them quite controversial. If passed, it would allow some employees and employers to contract out of the personal grievance, dispute and enforcement provisions in the Employment Relations Act 2000 (the ERA)....

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Banking and Finance

FMA consults on KiwiSaver fees methodology (13 April 2017) (NZ)

Chapman Tripp

The Financial Markets Authority (FMA) has issued a consultation paper on the calculation of total fees to be disclosed in KiwiSaver annual statements. The FMA is seeking comments before providing a methodology notice and/or guidance that prescribes how total fees should be calculated. The...

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Employment

Grace period ends: availability and secondary employment rules now in force (12 April 2017) (NZ)

Kensington Swan

1 April 2017 marked the end of the transition period for ensuring all existing employment agreements comply with the new rules relating to availability and secondary employment provisions under the Employment Relations Act 2000 (‘the Act’). While the new rules were introduced to...

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Banking and Finance, Company

Block party continues for NZX issuers with ASX Foreign Exempt Listings (12 April 2017) (NZ)

Chapman Tripp

ASX and NZX have recently announced that NZX listed issuers with an ASX Foreign Exempt Listing may still be able to obtain trading halts on the ASX to facilitate sell downs by major shareholders. ASX and NZX have both previously granted trading halts to issuers where a bookbuild process is...

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Property

Little things matter - the value of good property due diligence (10 April 2017) (NZ)

Minter Ellison Rudd Watts

You will generally be aware of the importance of completing a comprehensive due diligence before committing to any major development project but two recent cases highlight the potential consequences of failing to check all aspects, including the smallest of details on the title. Know your...

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Resource Management

Resource Legislation Amendment Bill Passes Third Reading (10 April 2017) (NZ)

Brookfields

Almost 18 months after its introduction to the House, the Resource Legislation Amendment Bill has passed its third reading. The wide-reaching Act amends the Resource Management Act 1991 (RMA), the Reserves Act 1977, the Public Works Act 1981, the Conservation Act 1987, the Environmental...

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Resource Management

Environmental Reforms Pass (7 April 2017) (NZ)

Minter Ellison Rudd Watts

The eagerly awaited Resource Legislation Amendment Bill (Bill) passed its third reading yesterday, 6 April 2017. The third reading comes 16 months after it was first introduced to Parliament in November 2015 and was the last hurdle to the National-led Government delivering changes to the Resource...

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Alternative dispute resolution, Civil Procedure, Commercial, Costs, Health and Safety

Dispute resolution in New Zealand – trends and insights (4 April 2017) (NZ)

Chapman Tripp

​Global events and their potential effect on the New Zealand economy, the coming election and regulatory trends at home will create an uncertain environment for business in 2017. Where uncertainty exists, so does the potential for disputes – whether driven by increased economic...

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Employment, Taxation

New employee share scheme tax rules – it’s time to review your scheme (6 April 2017) (NZ)

Chapman Tripp

The Taxation (Annual Rates for 2017-18, Employment and Investment Income, and Remedial Matters) Bill, introduced today, changes the tax treatment of benefits provided under employee share schemes (ESS) and of widely offered ESS. Given the breadth of the proposed changes, and the complexity of...

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Health and Safety

First use of important new health and safety tool (6 April 2017) (NZ)

Chapman Tripp

WorkSafe’s acceptance of an enforceable undertaking from the St Kentigern Trust Board opens a new chapter in New Zealand’s health and safety regime. It represents the first use of a new tool provided under the Health and Safety at Work Act and could become an important instrument...

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Employment, Taxation

Overhaul of employee share scheme taxation - draft legislation introduced to Parliament (7 April 2017) (NZ)

Bell Gully

​​​​​The Government has introduced draft​ legislation to overhaul the taxation of employee share schemes. The draft legislation: introduces a new taxing point for share scheme benefits, rationalises the deduction rules for share schemes and amends the existing...

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Employment, Health and Safety

Legal update - Responding to a workplace accident (5 April 2017 ) (NZ)

Buddle Findlay

No health and safety system is infallible. Although the Health and Safety at Work Act 2015 (HSWA) requires persons conducting a business or undertaking (PCBUs) to take reasonably practicable steps to ensure workers are not harmed, the reality is 'accidents happen'. When they do there are a...

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Competition, Privacy

A right to data portability: Privacy and competition law concerns (3 April 2017) (NZ)

Bell Gully

In his 3 February report to the Minister of Justice, the Privacy Commissioner made a number of recommendations for reform to the Privacy Act 1993. Among them was the recommendation that a right to data portability be introduced. Data portability refers to an individual's ability to easily move...

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Competition

Leniency – a good tool but could be sharper (31 March 2017) (NZ)

Chapman Tripp

Uncovering price fixing in the business is a dilemma for senior management and directors. Suddenly you are faced with a series of important and career-defining decisions about how you will respond and, particularly, whether you will approach the Commerce Commission to make a voluntary disclosure...

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Banking and Finance

FMA moves to license issuers of short-duration derivatives (3 April 2017) (NZ)

Bell Gully

On 31 March, the Financial Markets Authority (FMA) issued a consultation paper aimed at stanching the flow of complaints it has received about online FX and other short-duration derivatives, such as binary options. In its consultation paper, the FMA notes that short-duration derivatives are...

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Insurance

Issues paper released for the first phase of the Insurance (Prudential Supervision) Act 2010 review (30 March 2017) (NZ)

Bell Gully

​​The Reserve Bank is consulting on an Issues Paper it released today, as part of the first phase of a comprehensive review of the Insurance (Prudential Supervision) Act 2010 (IPSA) regime. The Reserve Bank has indicated that the review of the IPSA will progress in three broad phases....

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Criminal, Technology

Cyber security - Government's strategy on track (28 March 2017) (NZ)

Bell Gully

The Government’s “Cyber Security Strategy and Action Plan” reached a key milestone last week with the release of its first Annual Report. The importance of a robust and coherent strategy grows ever more apparent, as New Zealand businesses increasingly rely on the internet for...

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Construction, Contract, Tort

Engineer unable to rely on standard limitation clause (28 March 2017) (NZ)

Bell Gully

​​​The Court of Appeal has declined to limit an engineer’s potential liability for foundation works because the standard form agreement containing the limitation clause was not signed or adequately notified to the client at the time of engagement.​​ This decision illustrates the...

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Building, Local Government

Legal alert - Court of Appeal decision on Council liability when issuing code compliance certificates (23 March 2017) (NZ)

Buddle Findlay

The Invercargill City Council has successfully appealed a High Court decision which found that it breached a duty of care owed to a commissioning owner and was negligent in issuing a code compliance certificate. The Council had previously been ordered to pay $15,126,665.35 to the Southland...

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Media

Children and young people’s advertising code released by the Advertising Standards Authority (27 March 2017) (NZ)

Baldwins

On 3 March 2017, the New Zealand Advertising Standards Authority (the ASA) announced a new code to cover all advertising to children and young people. The Code recognises the need to protect children from information and material injurious to their well-being as championed by the United...

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Family, Trusts

Is an Inheritance Trust Worthwhile? (21 March 2017) (NZ)

Hesketh Henry

We are often asked by parents how they can protect the inheritance they will provide for their children – keeping it safe from relationship property and creditor claims. Our answer is to establish a trust. With recent media attention on a few high profile court decisions, the question...

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Intellectual Property

New Zealand Patents Act 2013 - Has the medical treatment exclusion failed? (20 March 2017) (NZ)

Baldwins

The Patents Act 2013 expressly excludes patents for methods of medical treatment. The rationale is that medical practitioners should not be liable for providing treatment to those in need. Swiss type claims are often used to get around the exclusion, especially where the invention is the new use...

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Intellectual Property

Lego gets trolled in the US (20 March 2017) (USA)

Hudson Gavin Martin

In an ironic twist, Lego (who make several excellent troll figurines) gets trolled in the US. A 'non-trading entity' (aka a patent troll) has filed patent infringement proceedings against Lego in every troll's favourite lair - the United States District Court, Eastern District of Texas...

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Employment

New employment laws affecting Easter Sunday (17 March 2017) (NZ)

Kensington Swan

Changes to the Shop Trading Hours Act 1990 (the Act) which came into effect in August last year will affect shop trading this Easter. Shop employees (defined as anyone who works in or from a shop) can refuse to work on Easter Sunday and are not required to give a reason. Under the changes,...

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Banking and Finance, Commercial

A $60 million mistake – have you registered on the PPSR? (20 March 2017) (AUS)

Chapman Tripp

Failing to register security interests on the Personal Property Securities Register (PPSR) - a simple and straightforward exercise - can be costly. This was amply demonstrated recently when General Electric's attempt to argue that its $60 million wind turbines were exempt from the operation of...

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Bankruptcy, Company, Insolvency

Legal update on insolvency law - March 2017 (20 March 2017) (NZ)

Buddle Findlay

In this Insight: Liquidators entitled to a fair fee The perils of litigation funding and what it means to commence proceedings One judgment better than two? Not always No improper motive for administrators' appointment Affixation not enough to constitute a fixture...

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