Author: Yvonne Parlane

  After a lengthy period of review and consultation, the new Trusts Act 2019 has finally become law.  The Act is to come into force on 30 January 2021.  The new Act makes important changes to trust law in New Zealand and replaces the Trustee Act 1956 and the Perpetuities Act 1964. It is important that trustees and beneficiaries are aware of the changes and the impact on their rights and obligations, and that trustees use the transition period until 30 January 2021 to ensure their practices align with the provisions of the new Act. Changes to Trust Law The Act is intended to...

Covid-19:  Malloy Goodwin Harford is monitoring the Covid-19 pandemic and assessing the risk to both staff and clients in line with current Ministry of Health guidelines.  We continue to provide legal services and do not anticipate any material disruption to our work with clients. We can address all client enquiries via e-mail and phone in the first instance....

From 1 July 2018, the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (“Act”) applies to Malloy Goodwin Harford and other New Zealand law firms. To date, this legislation has mainly affected banks and investment advisers.  As from 1 July, it will apply to most New Zealand law firms including ours. As from 1 October this year it will apply to accountants, and as from 1 January next year it will apply to real estate agents. The principal purpose of the anti-money laundering legislation is to increase the likelihood of the detection and deterrence in New Zealand of money laundering and...

Recently enacted changes to the Commerce Act 1986 significantly extend the scope of what can be considered to be cartel conduct prohibited by the Commerce Act. Common, and often pro-competitive, commercial arrangements will be subject to greater scrutiny. This is particularly true of distribution arrangements and joint ventures. There are limited exceptions for certain collaborative activity and for certain provisions in vertical supply contracts. Previous proposals for criminalisation of cartel conduct were not ultimately adopted. However, the consequences of breach are still severe. They include potentially large pecuniary penalties, exposure to damages and the unenforceability of contracts. Core Prohibition The previous prohibition on price...