Matt Doocey
MP for Waimakariri
Media statement
1 September 2016
Matt Doocey welcomes early support for his Member’s Bill
Waimakariri MP Matt Doocey has welcomed early support for his Companies (Annual Report Notice Requirements) Amendment
Bill.
The bill seeks to replace an outdated legal requirement for companies to provide a written notice of the annual report
to shareholders.
““In addition to reducing costs to companies, the Bill will minimise paper consumption and the flow on impact to
environment. One company in my electorate told me it sends out around 32,000 letters every year and gets on average 100
requests for a hard copy of the report. With technology, we can do more online and companies have the ability to make
their annual report available online,” says Mr Doocey.
“I’ve been really encouraged by the support I’ve received from industry stakeholders, who recognise the value in the
bill as a step in the right direction of regulatory reform and would reduce administrative burdens.
“To have companies like Chorus and Z Energy on board with the bill is just fantastic. I’ve also been contacted by Dr
Oliver Hartwich, Executive Director of the New Zealand Initiative, who has said the bill will save companies a few
million dollars of unnecessary costs – not to mention hundreds of thousands of pages of printed paper.
“Meanwhile, Z Energy have contacted me to show their support they believe that this bill has the potential, through a
simple administrative change, to cut costs and reduce the amount of paper and post required by their business,” says Mr
Doocey.
According to the Listed Companies Association, their member companies collectively stand to save hundreds of thousands
of dollars if the bill is supported and the associated environmental benefits help meet the constant need for companies
to be mindful of sustainability issues.
The Companies (Annual Report Notice Requirements) Amendment Bill was drawn from the Member’s Bill ballot last week.
ENDS