Legislation providing statutory backing for settlement systems passed

Legislation providing settlement systems with the option to apply for designation which gives statutory backing was passed by the New Zealand Parliament on 18 November 2009.

The Settlement Systems, Futures, and Emissions Units Bill as reported from the Commerce Committee was split into four bills at the Committee stage. We now have four amendment Acts:

• Reserve Bank of New Zealand Amendment Act 2009.
• Personal Property Securities Amendment Act 2009.
• Securities Markets Amendment Act 2009. 
• Securities Amendment Act 2009.

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