Friendly Societies and Credit Unions (Regulatory Improvements) Amendment Bill – Second Reading – V..

differences Again, I commend the committee and commend differences

Again, I commend the committee and commend committee and commend this particular bill committee and commend this particular bill committee and commend this particular bill to committee and commend this particular bill to the particular bill to the House Kia ora particular bill to the House Kia ora I particular bill to the House

Kia ora I particular bill to the House Kia ora I call Lawrence Yule particular bill to the House

Kia ora I call Lawrence Yule It's particular bill to the House Kia ora I call Lawrence Yule

It's my particular bill to the House Kia ora I call Lawrence Yule It's my ora I call Lawrence Yule

It's my pleasure to ora I call Lawrence Yule It's my pleasure to give ora I call Lawrence Yule It's my pleasure to give the concluding ora

I call Lawrence Yule It's my pleasure to give the concluding pleasure to give the concluding remarks on the Friendly Societies remarks on the Friendly Societies and remarks on the Friendly Societies and Credit Unions remarks on the Friendly Societies and Credit Unions (Regulatory and Credit Unions (Regulatory Improvements) and Credit Unions (Regulatory Improvements) and Credit Unions (Regulatory Improvements) Amendment Bill 2017 Improvements) Amendment Bill 2017 Like Improvements) Amendment Bill 2017 Like other speakers, Improvements) Amendment Bill 2017

Like other speakers, Improvements) Amendment Bill 2017 Like other speakers, and Like other speakers, and particularly the Hon David Like other speakers, and particularly the Hon David Carter, Like other speakers, and particularly the Hon David Carter, I Like other speakers, and particularly the Hon David Carter, I particularly the Hon David Carter, I joined this process later particularly the Hon David Carter, I joined this process later joined this process later in the piece I joined this process later in the piece I joined this process later in the piece I do joined this process later in the piece

I do want to joined this process later in the piece I do want to joined this process later in the piece I do want to acknowledge the piece I do want to acknowledge the work piece I do want to acknowledge the work of piece

I do want to acknowledge the work of piece I do want to acknowledge the work of the piece I do want to acknowledge the work of the member for Kaikoura, piece I do want to acknowledge the work of the member for Kaikoura, work of the member for Kaikoura, Stuart Smith, because work of the member for Kaikoura, Stuart Smith, because this Stuart Smith, because this is a complex Stuart Smith, because this is a complex Stuart Smith, because this is a complex piece of legislation And it Stuart Smith, because this is a complex piece of legislation

And it complex piece of legislation And it took me a while to complex piece of legislation And it took me a while to took me a while to get my head around took me a while to get my head around it took me a while to get my head around it Some of it I took me a while to get my head around it

Some of it I around it Some of it I still don't know But, around it Some of it I still don't know But, around it

Some of it I still don't know But, actually, around it Some of it I still don't know But, actually, what you've around it Some of it I still don't know

But, actually, what you've know But, actually, what you've done and what know But, actually, what you've done and what know But, actually, what you've done and what you've brought know But, actually, what you've done and what you've brought before done and what you've brought before this House and done and what you've brought before this House and done and what you've brought before this House and this Parliament done and what you've brought before this House and this Parliament this House and this Parliament is actually a this House and this Parliament is actually a this House and this Parliament is actually a very good thing for this House and this Parliament is actually a very good thing for actually a very good thing for over actually a very good thing for over Zealanders and the business that that Zealanders and the business that that will grow on Zealanders and the business that that will grow on Zealanders and the business that that will grow on and support

A Zealanders and the business that that will grow on and support A that will grow on and support A great job! that will grow on and support A great job! Stuart, that will grow on and support A great job! Stuart, that will grow on and support

A great job! Stuart, I know at that will grow on and support A great job! Stuart, I know at times I remember you shaking your head when I remember you shaking your head when submitters were I remember you shaking your head when submitters were asking when submitters were asking questions and you'd when submitters were asking questions and you'd questions and you'd already answered it, questions and you'd already answered it, questions and you'd already answered it, covered it off, questions and you'd already answered it, covered it off, and it, covered it off, and spent hours doing it it, covered it off, and spent hours doing it But it, covered it off, and spent hours doing it But here we it, covered it off, and spent hours doing it

But here we doing it But here we are today I believe doing it But here we are today I believe doing it

But here we are today I believe this bill doing it But here we are today I believe this bill doing it But here we are today

I believe this bill may ultimately doing it But here we are today I believe this bill may ultimately doing it But here we are today I believe this bill may ultimately go believe this bill may ultimately go through and believe this bill may ultimately go through and be through and be unanimously supported

For through and be unanimously supported For through and be unanimously supported For a member's through and be unanimously supported For a member's supported For a member's bill, that is superannuitant

I supported For a member's bill, that is superannuitant I is superannuitant I also want to acknowledge is superannuitant I also want to acknowledge is superannuitant

I also want to acknowledge Duncan Webb for is superannuitant I also want to acknowledge Duncan Webb for is superannuitant I also want to acknowledge Duncan Webb for his role is superannuitant I also want to acknowledge Duncan Webb for his role acknowledge Duncan Webb for his role in the acknowledge Duncan Webb for his role in the acknowledge Duncan Webb for his role in the background and working with in the background and working with Stuart in the background and working with Stuart to in the background and working with Stuart to iron in the background and working with Stuart to iron out in the background and working with Stuart to iron out in the background and working with Stuart to iron out some of in the background and working with Stuart to iron out some of those Stuart to iron out some of those complexities, because Stuart to iron out some of those complexities, because complexities, because the committee did complexities, because the committee did complexities, because the committee did work together to try complexities, because the committee did work together to try and did work together to try and resolve this did work together to try and resolve this

It this It was fundamentally about mutuality this It was fundamentally about mutuality Most this

It was fundamentally about mutuality Most of the this It was fundamentally about mutuality Most of the mutuality Most of the issues that were mutuality

Most of the issues that were mutuality Most of the issues that were brought up mutuality Most of the issues that were brought up mutuality Most of the issues that were brought up by the mutuality Most of the issues that were brought up by the were brought up by the submissions were were brought up by the submissions were were brought up by the submissions were about mutuality

And were brought up by the submissions were about mutuality And were brought up by the submissions were about mutuality And if you were brought up by the submissions were about mutuality And if you were about mutuality And if you strip that were about mutuality

And if you strip that were about mutuality And if you strip that back, were about mutuality And if you strip that back, it's were about mutuality And if you strip that back, it's strip that back, it's really about strip that back, it's really about other That's really what this is about

other That's really what this is about other That's really what this is about And other

That's really what this is about And people were other That's really what this is about And people were about And people were concerned that would be about

And people were concerned that would be about And people were concerned that would be lost about And people were concerned that would be lost I about

And people were concerned that would be lost I about And people were concerned that would be lost I want that would be lost I want to bring a that would be lost

I want to bring a that would be lost I want to bring a Hawke's Bay story that would be lost I want to bring a Hawke's Bay story that would be lost I want to bring a Hawke's Bay story in that would be lost I want to bring a Hawke's Bay story in here that would be lost

I want to bring a Hawke's Bay story in here that would be lost I want to bring a Hawke's Bay story in here because a Hawke's Bay story in here because NZCU a Hawke's Bay story in here because NZCU a Hawke's Bay story in here because NZCU Bay Wide a Hawke's Bay story in here because NZCU Bay Wide a Hawke's Bay story in here because NZCU Bay Wide started a Hawke's Bay story in here because NZCU Bay Wide started from the NZCU Bay Wide started from the freezing NZCU Bay Wide started from the freezing works credit NZCU Bay Wide started from the freezing works credit NZCU Bay Wide started from the freezing works credit union in 1971 NZCU Bay Wide started from the freezing works credit union in 1971 freezing works credit union in 1971 Stalwarts freezing works credit union in 1971

Stalwarts of my freezing works credit union in 1971 Stalwarts of my community, freezing works credit union in 1971 Stalwarts of my community, including freezing works credit union in 1971 Stalwarts of my community, including Stalwarts of my community, including people Stalwarts of my community, including people like Stalwarts of my community, including people like Roy Gardiner, Iain Stalwarts of my community, including people like Roy Gardiner, Iain people like Roy Gardiner, Iain Taylor people like Roy Gardiner, Iain Taylor and the likes, people like Roy Gardiner, Iain Taylor and the likes, people like Roy Gardiner, Iain Taylor and the likes, set Taylor and the likes, set up forestry schemes, they Taylor and the likes, set up forestry schemes, they then Taylor and the likes, set up forestry schemes, they then set up Taylor and the likes, set up forestry schemes, they then set up forestry schemes, they then set up a credit union, and forestry schemes, they then set up a credit union, and forestry schemes, they then set up a credit union, and actually it forestry schemes, they then set up a credit union, and actually it credit union, and actually it has managed credit union, and actually it has managed credit union, and actually it has managed to survive the credit union, and actually it has managed to survive the closure credit union, and actually it has managed to survive the closure of credit union, and actually it has managed to survive the closure of managed to survive the closure of that freezing works, the December managed to survive the closure of that freezing works, the December that freezing works, the December mission that freezing works, the December mission of that freezing works, the December mission of all that freezing works, the December that freezing works, the December million and 16 branches throughout the million and 16 branches throughout the central part million and 16 branches throughout the central part million and 16 branches throughout the central part of the million and 16 branches throughout the central part of the North the central part of the North Island That the central part of the North Island

That the central part of the North Island That is the central part of the North Island That is because people in the central part of the North Island That is because people in my Island That is because people in my Island

That is because people in my Island That is because people in my Island That is because people in my make a difference for their follow human make a difference for their follow make a difference for their follow beings All this bill does is to support beings All this bill does is to support them beings

All this bill does is to support them beings All this bill does is to support them in their beings All this bill does is to support them in their measures support them in their measures and to modernise support them in their measures and to modernise to modernise them with today's technology to modernise them with today's technology to modernise them with today's technology and to modernise them with today's technology and to make sure to modernise them with today's technology and to make sure technology and to make sure others and technology and to make sure others and technology and to make sure others and particularly the technology and to make sure others and particularly the technology and to make sure others and particularly the large banks technology and to make sure others and particularly the large banks and particularly the large banks don't and particularly the large banks don't have an unfair playing and particularly the large banks don't have an unfair playing and particularly the large banks don't have an unfair playing field don't have an unfair playing field I don't have an unfair playing field

I look at the don't have an unfair playing field I look at the don't have an unfair playing field I look at the directors don't have an unfair playing field I look at the directors in don't have an unfair playing field I look at the directors in the don't have an unfair playing field

I look at the directors in the Bay I look at the directors in the Bay Wide I look at the directors in the Bay Wide I look at the directors in the Bay I look at the directors in the Bay I look at the directors in the Bay have sat through their meetings I have have sat through their meetings I have have sat through their meetings I have sat have sat through their meetings I have sat with hundreds have sat through their meetings

I have sat with hundreds of have sat with hundreds of members, how proud have sat with hundreds of members, how proud of have sat with hundreds of members, how proud of what their have sat with hundreds of members, how proud of what their how proud of what their credit union is doing for how proud of what their credit union is doing for how proud of what their credit union is doing for them And how proud of what their credit union is doing for them And how proud of what their credit union is doing for them And that is, how proud of what their credit union is doing for them And that is, is doing for them

And that is, in my is doing for them And that is, in my view, is doing for them And that is, in my view, to be encouraged It is doing for them And that is, in my view, to be encouraged

It is doing for them And that is, in my view, to be encouraged It isn't my view, to be encouraged It isn't some my view, to be encouraged It isn't some my view, to be encouraged

It isn't some little back water my view, to be encouraged It isn't some little back water some little back water organisation They have some little back water organisation They have some little back water organisation They have to some little back water organisation

They have to run some little back water organisation They have to run some little back water organisation They have to run and Oracle some little back water organisation They have to run and Oracle some little back water organisation They have to run and Oracle placed They have to run and Oracle placed platform They have to run and Oracle placed platform They have to run and Oracle placed They have to run and Oracle placed platform for banking

Not just can buy platform for banking Not just can buy platform for banking Not just can buy that so they platform for banking Not just can buy that so they platform for banking Not just can buy that so they have to be platform for banking

Not just can buy that so they have to be buy that so they have to be commercially successful This buy that so they have to be commercially successful This buy that so they have to be commercially successful This bill commercially successful This bill can commercially successful

This bill can about commercially successful This bill can about two things commercially successful This bill can about two things One can about two things

One the modernisation of can about two things One the modernisation of can about two things One the modernisation of the credit can about two things One the modernisation of the credit union modernisation of the credit union legislation to allow modernisation of the credit union legislation to allow modernisation of the credit union legislation to allow things like modernisation of the credit union legislation to allow things like legislation to allow things like a body corporate, legislation to allow things like a body corporate, body corporate, perpetual succession, body corporate, perpetual succession, body corporate, perpetual succession, the fact that body corporate, perpetual succession, the fact that succession, the fact that people do not need succession, the fact that people do not need succession, the fact that people do not need to run around in succession, the fact that people do not need to run around in small not need to run around in small towns like mine not need to run around in small towns like mine not need to run around in small towns like mine and get not need to run around in small towns like mine and get not need to run around in small towns like mine and get signatures towns like mine and get signatures for loans from towns like mine and get signatures for loans from for loans from several different people It for loans from several different people

It for loans from several different people It is about for loans from several different people It is about for loans from several different people It is about bringing it for loans from several different people It is about bringing it people

It is about bringing it oint the modern people It is about bringing it oint the modern era people It is about bringing it oint people It is about bringing it oint people It is about bringing it oint people

It is about bringing it oint era and managing the risks of directors era and managing the risks of directors and trustees era and managing the risks of directors and trustees era and managing the risks of directors and trustees Importantly, directors and trustees Importantly, it directors and trustees

Importantly, it is directors and trustees Importantly, it is about how those directors and trustees Importantly, it is about how those directors and trustees Importantly, it is about how those members can it is about how those members can benefit it is about how those members can benefit their it is about how those members can benefit their benefit their other affiliated entity, benefit their other affiliated entity, benefit their other affiliated entity, namely their businesses And benefit their other affiliated entity, namely their businesses

And entity, namely their businesses And I entity, namely their businesses And I did entity, namely their businesses And I did hear at entity, namely their businesses And I did hear at entity, namely their businesses

And I did hear at various entity, namely their businesses And I did hear at various AGMs I entity, namely their businesses And I did hear at various AGMs I entity, namely their businesses And I did hear at various AGMs I went to entity, namely their businesses And I did hear at various AGMs I went to I did hear at various AGMs I went to how disadvantaged I did hear at various AGMs I went to how disadvantaged I did hear at various AGMs I went to how disadvantaged NZCU Bay Wide I did hear at various AGMs I went to how disadvantaged NZCU Bay Wide was how disadvantaged NZCU Bay Wide was feeling when how disadvantaged NZCU Bay Wide was feeling when how disadvantaged NZCU Bay Wide was feeling when other banks how disadvantaged NZCU Bay Wide was feeling when other banks feeling when other banks were poaching clients for feeling when other banks were poaching clients for poaching clients for business and ultimately would end poaching clients for business and ultimately would end poaching clients for business and ultimately would end up with poaching clients for business and ultimately would end up with ultimately would end up with their personal accounts as well

ultimately would end up with their personal accounts as well ultimately would end up with their personal accounts as well Because personal accounts as well Because they offered things like personal accounts as well Because they offered things like credit they offered things like credit cards and they offered things like credit cards and a they offered things like credit cards and a whole lot they offered things like credit cards and a whole lot they offered things like credit cards and a whole lot of they offered things like credit cards and a whole lot of other they offered things like credit cards and a whole lot of other transactions that actually credit unions transactions that actually credit unions couldn't

transactions that actually credit unions couldn't transactions that actually credit unions couldn't That unions couldn't That has opinion been unions couldn't That has opinion been unions couldn't

That has opinion been worked through unions couldn't That has opinion been worked through Instead unions couldn't That has opinion been worked through

Instead of unions couldn't That has opinion been worked through Instead of been worked through Instead of complex work been worked through Instead of complex work arounds, been worked through

Instead of complex work arounds, credit unions been worked through Instead of complex work arounds, credit unions complex work arounds, credit unions can enterprises a lending, such as commercial enterprises a lending, such as commercial banks enterprises a lending, such as commercial banks can, enterprises a lending, such as commercial banks can, commercial banks can, can offer things commercial banks can, can offer things commercial banks can, can offer things like credit commercial banks can, can offer things like credit commercial banks can, can offer things like credit cards and, things like credit cards and, importantly, things like credit cards and, importantly, can things like credit cards and, importantly, can things like credit cards and, importantly, can allow things like credit cards and, importantly, can allow these importantly, can allow these importantly, can allow these markets of New Zealand to offer products markets of New Zealand to offer products markets of New Zealand to offer products that allow for growth markets of New Zealand to offer products that allow for growth It products that allow for growth It wasn't all unanimous, products that allow for growth

It wasn't all unanimous, wasn't all unanimous, as everybody said And wasn't all unanimous, as everybody said And wasn't all unanimous, as everybody said And it wasn't all unanimous, as everybody said And it was said

And it was all around mutuality, said And it was all around mutuality, said And it was all around mutuality, but I'm pleased said And it was all around mutuality, but I'm pleased to said And it was all around mutuality, but I'm pleased to say said

And it was all around mutuality, but I'm pleased to say mutuality, but I'm pleased to say it is mutuality, but I'm pleased to say it is mutuality, but I'm pleased to say it is enshrined in legislation and mutuality, but I'm pleased to say it is enshrined in legislation and is enshrined in legislation and from where I is enshrined in legislation and from where I is enshrined in legislation and from where I sit, those is enshrined in legislation and from where I sit, those where I sit, those submissions that were where I sit, those submissions that were where I sit, those submissions that were concerned about that where I sit, those submissions that were concerned about that have were concerned about that have been made null were concerned about that have been made null and were concerned about that have been made null and void were concerned about that have been made null and void So, were concerned about that have been made null and void So, the finance were concerned about that have been made null and void So, the finance and expenditure select committee worked and expenditure select committee worked and expenditure select committee worked really well on this

They and expenditure select committee worked really well on this They worked really well on this They got it sorted worked really well on this They got it sorted

worked really well on this They got it sorted And I commend it to worked really well on this They got it sorted And I commend it to it sorted

And I commend it to the House it sorted And I commend it to the House and it sorted And I commend it to the House and hope it gets it sorted And I commend it to the House and hope it gets House and hope it gets unanimous support Thank you

Well House and hope it gets unanimous support Thank you Well said! support Thank you Well said! Good speech! The support

Thank you Well said! Good speech! The support Thank you Well said! Good speech! The question is support Thank you

Well said! Good speech! The question is speech! The question is that the motion speech! The question is that the motion be speech! The question is that the motion be agreed to speech! The question is that the motion be agreed to Those motion be agreed to Those of that opinion will motion be agreed to Those of that opinion will motion be agreed to

Those of that opinion will say aye To motion be agreed to Those of that opinion will say aye To motion be agreed to Those of that opinion will say aye

To the opinion will say aye To the contrary, opinion will say aye To the contrary, no opinion will say aye To the contrary, no

The opinion will say aye To the contrary, no The Ayes have it opinion will say aye To the contrary, no

The Ayes have it This contrary, no The Ayes have it This bill contrary, no The Ayes have it

This bill is contrary, no The Ayes have it This bill is set down contrary, no The Ayes have it This bill is set down Friendly Societies and Credit Unions (Regulatory Societies and Credit Unions (Regulatory (Regulatory Improvements) Amendment Bill, second reading (Regulatory Improvements) Amendment Bill, second reading (Regulatory Improvements) Amendment Bill, second reading This (Regulatory Improvements) Amendment Bill, second reading This bill is (Regulatory Improvements) Amendment Bill, second reading

This bill is Bill, second reading This bill is set down Bill, second reading This bill is set down Bill, second reading This bill is set down for committee Bill, second reading This bill is set down for committee set down for committee stage next sitting day

set down for committee stage next sitting day Call sitting day Call on Members' Order of sitting day Call on Members' Order of sitting day Call on Members' Order of the Day number sitting day

Call on Members' Order of the Day number sitting day Call on Members' Order of the Day number 4 Education sitting day Call on Members' Order of the Day number 4 Education of the Day number 4

Education (Social (Social Investment Funding and Abolition of (Social Investment Funding and Abolition of (Social Investment Funding and Abolition of Decile Abolition of Decile System) Amendment Bill, Abolition of Decile System) Amendment Bill, Abolition of Decile System) Amendment Bill, interrupted debate, Abolition of Decile System) Amendment Bill, interrupted debate, Amendment Bill, interrupted debate, first Amendment Bill, interrupted debate, first reading Amendment Bill, interrupted debate, Amendment Bill, interrupted debate, Amendment Bill, interrupted debate, the bill was before the House Jamie Strange the bill was before the House Jamie Strange was speaking He the bill was before the House Jamie Strange was speaking He has Strange was speaking He has two minutes Strange was speaking

He has two minutes 30 minutes 30 seconds remaining to speak minutes 30 seconds remaining to speak I speak I call Jamie Strange I'm sure the time will fly by!