New Zealand’s OTHER secret shame – *Update*
Continued from: New Zealand’s OTHER secret shame
On 12 December, this blogger reported that two domestic investment funds, the government’s National Provident Fund and Government Superannuation Fund had “ interests in collective investment vehicles ” that were investing in Lockheed Martin, Raytheon, and L-3 Communications.
These three corporations manufacture weapons known as “cluster bombs”, which cause horrific injuries, maimings, and death to innocent civilians.
New Zealand law is quite unambiguous on this issue,
Part 2, sub-part 1, Paragraph 10, Sub-paragraph 2 clearly states in unequivocal terms,
“A person commits an offence who provides or invests funds with the intention that the funds be used, or knowing that they are to be used, in the development or production of cluster munitions.”
Accordingly, this blogger wrote to Finance Minister Bill English – to which no reply has yet been received. (See: New Zealand’s OTHER secret shame)
Emails to the National Provident Fund and Government Superannuation Fund yielded this media statement being received on 14 December,
It seems inconceivable that legislation can be side-stepped so effortlessly, simply by employing a “third party” – in this case an investment strategy known as a “collective investment vehicle”.
I can think of no other legal situation where a person can circumvent the law simply by relying on a third party to commit an illegal act. At this point, conspiracy laws would surely kick in?!
No wonder Bill English has not responded to my email. This is a can of worms he doesn’t want within eyesight or earshot.
Especially when the law banning investment in cluster weapons – Cluster Munitions Prohibition Act 2009 – was actually legislation authored and passed by National, in 2009.
This blogger emailed a follow-up set of questions to Mr Tyler, cc’d to Finance Minister, Bill English,
1. By investing in certain “collective investment vehicles”, which are investing in corporations that manufacture banned cluster weapons, are not the National Provident and Government Superannuation Funds simply attempting to circumvent the Cluster Munitions Prohibition Act 2009 which specifically prohibits such investment practices “knowing that they are to be used, in the development or production of cluster munitions”?
2. Are you aware that you may be risking prosecution under the Cluster Munitions Prohibition Act 2009, and that your explanation that “the Authority has no control over the CIVs, however, nor over the corporate securities they hold” may not be a legal defence?3. Why does the National Provident and Government Superannuation Funds simply not switch collective investment vehicles?I await your response to these questions and hope that this issue can be resolved.Regards,-Frank MacskasyCC: Bill English, Minister of Finance
The longer these investments are allowed to continue, the longer our country is complicit in the use of a banned weapon that kills indiscriminately.
= fs =
For a better New Zealand…
~ Cleaner rivers
~ No deep-sea oil drilling
~ Less on Roads - more on Rail
~ A Living wage at $19.25/hr
~ Marriage equality - Yay! Got that one!
~ Strong, effective Unions
~ No secret free-trade deals
~ Breakfast/lunches in our schools
~ Introducing Civics into our school curriculum
~ Cut back on the liquor industry
~ A fairer, progressive tax system
~ Fully funded, free healthcare
~ Ditto for education, including Tertiary
~ Fund Pharmac for Pompe's Disease medication & other 'orphan' drugs
~ No state asset sales!
~ Rebuild public TV broadcasting!
~ Keeping farms in local ownership
~ Reduce poverty, like we reduced the toll for road-fatalities
~ Jobs, Jobs, Jobs!
~ Being nice to each other
- Campbell Live, No More
- Friends, Kiwis, Countrymen! I come to praise John Campbell, not bury him
- 2015 – Ongoing jobless tally
- Radio NZ – Mediawatch for 24 May 2015 – TV3’s Mark Jennings interviewed re Campbell Live
- National Tinkers while Auckland Property Prices Burn
- John Banks – A Tale of Two Cheques
- The cupboard is bare, says Dear Leader
- This is news?!
- National Minister refers to PM as “Wild Eyed” Right-Winger!
- Letter to the editor – Used car salesmen and pony-tail pullers
- The Mendacities of Mr Key # 12: No More Asset Sales (Kind of)
- Why should tradies be prosecuted for doing “cashies” and not paying tax?
- “The Nation” reveals gobsmacking incompetence by Ministers English and Lotu-Iiga
- Today’s irony was brought to you courtesy of former ACT MP and Govt Minister, Rodney Hide
- Tick, tick, tick… Countdown for National begins
- John Key: Profile of a trichophiliac
- John Key, Tania Billingsley, The Waitress, and me
- Producer of ‘The Nation’ hits back at “interference” allegations over ‘Campbell Live’
- The Curious World of the Main Stream Media
- The closure of three prisons and loss of 262 jobs – five issues for the National govt
- Campbell still Live, not gone
- There’s never a towie around when you need one…
- New Poll adds to Len Brown’s problems
- John Key’s government – death by two cuts
- A Message to Winston; A Message to John Key; and a Message to the Regions
- Letter to the editor – This is how much John Key really, really cares for Northland
- Christchurch City Council – Having your asset-cake and eating it
- That was Then, This is Now #27 – John Key on GST
- Letter to the editor – Northland voters have been warned
- Letter to the editor – How much will a ‘free’ trade deal with Sth Korea cost us?
- May 2015
- April 2015
- March 2015
- February 2015
- January 2015
- December 2014
- November 2014
- October 2014
- September 2014
- August 2014
- July 2014
- June 2014
- May 2014
- April 2014
- March 2014
- February 2014
- January 2014
- December 2013
- November 2013
- October 2013
- September 2013
- August 2013
- July 2013
- June 2013
- May 2013
- April 2013
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- 376,431 hits