CODEWORD

The Panel recommended a number of technical changes to the Code to the Minister of Commerce late last year. These recommendations followed the Panel’s consideration of detailed submissions on a discussion paper outlining changes to the Code proposed by the Panel.

The changes range from a few proposals which aim to clarify the wording of the Code, to several proposals designed to make the Code work better in particular circumstances. None of the proposals would make fundamental changes to the Code’s structure. All the proposals result from the market’s experience with the operations of the Code in the first three years it has been in force.

The Panel’s proposals are currently being considered by officials of the Ministry of Economic Development. The Panel is assisting this process as required. The next steps will be formal consideration by the Government and then final drafting of changes by Parliamentary Counsel Office.

The Panel hopes that the changes could be implemented in September/October 2004.