Financial Secretary Office News

Financial Secretary Office News

PRESS RELEASE - Business Environment Reforms Commence

PRESS RELEASE - Business Environment Reforms Commence

The Government with the assistance of the Asian Development Bank (ADB), Pacific Private Sector Development Initiative’s technical support has commenced work on important business environment reforms. The reforms consist of drafting of a new modernised Companies Act and a Personal Property Securities Act tailored to meet the local conditions. Once the Companies Act has been passed, NZ Aid Programme funding will allow the implementation of a new on-line company registry. ADB together with the NZ Companies Office will support the full implementation of the new law and on-line registry.

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PRESS RELEASE - Cook Islands to Investigate the Feasibility of BCI Joining New Zealand Payments System

Cook Islands to Investigate the Feasibility of BCI Joining New Zealand Payments System

Minister of Finance, the Honourable Mark Brown has outlined steps to build on findings from the independent banking review prepared by Sam Knowles in 2012 which outlined that banking in the Cook Islands was at a cross roads and in major need of change.

In his report, Mr Knowles outlined that business customers set their benchmark for the banks by their experience in their banking relationships and functionality in New Zealand. One of the major differences between the countries was the manual payments system which underpinned the domestic banking system in the Cook Islands.

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Cook Islands Government acknowledges International Anti Corruption Day

Cook Islands acknowledges International Anti-Corruption Day

The Government is using today’s International Anti Corruption Day to help the public understand how they can help keep the Cook Islands corruption-free.

Finance Minister Hon Mark Brown said it was important to future investment in the Cook Islands that the Government remain committed to practicing and promoting anti-corruption initiatives.

“We have a good reputation internationally. What that means is that we are more likely to be able to get resources from funds that will help all Cook Islands people,” the Minister said.

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