Law Commission to review conflicting inheritance laws
In late 2019 the Law Commission reported back to the government on its review of the Property (Relationships) Act 1976 (PRA). Discussion on Part 8 of the PRA that deals with the division of relationship property on the death of a spouse or partner was specifically excluded from the scope of that review.
Acknowledging the issues that could arise by not addressing the division of property when a spouse/partner dies, in December last year the government asked the Law Commission to review the law of succession – that is, the law that governs who inherits a person’s property when they die.
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Mānuka honey trade mark disputes
An ongoing dispute for the MANUKA HONEY trade mark demonstrates the importance of identifying your intellectual property (IP) and protecting that IP in the markets in which you trade.
The Mānuka Honey Appellation Society (MHAS) in New Zealand has applied to register a certification trade mark for MANUKA HONEY, which would limit the use of the term ‘Mānuka Honey’ in New Zealand to strictly New Zealand-based products[3].
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Consultation is key
New year, new you – new business structure? Restructuring is common in the new year when business owners feel refreshed and ready to take on the next challenge. The process however, is often shrouded in uncertainty (and stress) for employees.
Following the correct procedure for a restructure will allow your employees time to feel heard and to ensure decisions are made in good faith. They need to know your plans so they can ask the right questions and get the required support during a restructuring process.
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Rewarding value and increasing engagement
Bringing a key employee or a family member into your business by offering them a shareholding can be a powerful motivator and a significant indicator of how much you value their contributions to your success. However, the process should be done carefully with a robust shareholders’ agreement and company constitution, as there are many facets of the company-shareholder relationship that must be agreed upon to ensure a harmonious future between yourself and the new shareholders.
The circle of trust
First and foremost, your shareholders should be people whose values are aligned with those of your business. Even if they are minority shareholders, there are circumstances in which you will have to rely on their good judgement. The easiest way to prevent disagreements down the road is to carefully consider their business sense, character and propensity for confrontation before embarking on shareholder discussions.
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Five-year joint action plan launched
On 24 October 2019 the primary sector launched the ‘Primary Sector Climate Change Commitment: He Waka Eke Noa – our future in our hands to manage agricultural emissions.’
He Waka Eke Noa kicks off a collaborative five-year joint action plan between the agriculture sector, the government and iwi with the target of decreasing farming emissions and developing a farm emissions pricing scheme. If the action plan produces satisfactory results, agriculture will not be brought into the Emissions Trading Scheme (ETS) under the proposed Climate Change Response (Emissions Trading Reform) Amendment Bill.
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Government’s proposal to clean up waterways
Water quality is no new issue in Aotearoa New Zealand, but it is a growing one. On 31 October 2019, the government closed submissions on the Action Plan for Healthy Waterways. The Plan has since been referred to an independent advisory panel that will consider the public’s submissions and report back to the government. The panel consists of five members with expertise in a range of areas including dairy farming, environmental law, hydrology and water management.
Introducing the Plan, Environment Minister, David Parker spoke of the loss of New Zealand’s once-swimmable rivers and lakes. Damien O’Connor, Minister of Agriculture and for Rural Communities, commended the effort made by farmers to date:
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Comes into force early 2021
The Trusts Act 2019 will come into effect on 30 January 2021. Much of the Act updates or restates existing law. However, there are a number of changes about which trustees and people with trusts should be aware.
Trustees’ duties
The Act contains ‘mandatory’ and ‘default’ duties for trustees. Mandatory duties cannot be modified or excluded by the trust deed so all trustees will have to observe them. Mandatory duties are: Continue reading
Changes to legislation bring huge implications
The rural fires of last summer are a reminder of the risk of fire to our communities. The cause of the blaze in the Nelson region, one of New Zealand’s largest plantation fires, was attributed to a spark caused when farm equipment hit a stone. This leads to the question – who is liable for the cost of fighting a rural fire?
Many rural people are unaware that when the Fire and Emergency New Zealand Act 2017 (FENZ Act) came into force on 1 July 2017, it significantly moved the fire goalposts. Responsibility changed from what was known as ‘strict liability’ for causing a rural fire to ‘criminalising risky or reckless behaviour’ which results in a fire. It sounds minor, but the implications of this change are huge.
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Guest editorial by Jonty Mills, CEO, Water Safety New Zealand
We are truly blessed to live in the Land of the Long White Cloud. This beautiful country of ours is, however, also the land of water. Wherever you are, you are never far from water. We are world-famous for our stunning waterways – our lakes, rivers and beaches. But, it‘s also important to always remember that water can be dangerous and unpredictable.
Whenever you are near a waterway – going for a swim, collecting seafood, or paddling or boating – it is vital that you think about water safety.
Swimming is the deadliest recreational activity. Too many people underestimate the risks, and overestimate their ability, when it comes to swimming.
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Changes ahead in relationship property laws
The Law Commission has proposed some significant changes to the way relationship property is dealt with by separating couples.
Since the Property (Relationships) Act 1976 was enacted and with major changes in 2002, the structure of families has changed considerably. New legislation needs to take this into account.
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