News Round Up

Buying managed funds and investments online has now become a possibility after Parliament passed the Electronic Transactions Bill last week.

"This Act, which puts electronic transactions on the same legal footing as paper-based transactions, has been eagerly awaited by the business community," Information technology minister Paul Swain says.

"It will allow the thousands of statutory legal requirements for writing, signature and retention and production of documents to be met using electronic methods.

The act is based on model law developed by the United Nations Commission on International Trade Law and closely follows the Australian Electronic Transactions Act.

"The Act is a world-class piece of legislation. It will not only deliver the benefits to business and the public sector..., but it will substantially enhance New Zealand's international reputation as a leading country in electronic commerce and e-government," Swain says.

In its latest pay round the NZEI successfully negotiated an employer sponsored superannuation package where their employer (the Government) matches each member's contribution.

Also there is an extra incentive for teachers to join before October 21.

Under the strategic alliance GRT will promote the benefits of using an FPIA member when the teachers are deciding if the scheme is right for them and which of the options within the scheme they should be opting for.

"GRT recognises that professional financial advice is essential in the decision making process the teachers will have to pursue when considering this offer and FPIA members represent the highest level of professionalism" GRT business development manager Glenys Wilson says.