So this Incorporated Societies Bill will bring the existing statutory regime into the modern age. The New Zealand Institute of Directors welcomed the introduction of the bill, noting that "The Bill overhauls governance structures and arrangements for societies. Governance duties are set out in one place for the first time, helping to provide certainty for those leading societies. There are also new conflict of interest rules, which are essential for boards." Committee members and officers of incorporated societies have duties similar to those of a director under the Companies Act 1993. However, those duties have been developed through case law, not the 1908 Act. This rule will provide people elected into governance roles a clear understanding of what they have to do with the law, and that's very useful.