A report by the Independent Review of Intelligence and Security has been received by members of the Intelligence and Security Committee (ISC), Committee Chair and Prime Minister John Key says.

The review was commissioned to consider whether the legislative frameworks supporting New Zealand's intelligence and security agencies were "well placed to protect New Zealand's current and future national security, while protecting individual rights".

The Independent Review – led by Sir Michael Cullen and Dame Patsy Reddy – also considers whether current oversight arrangements provided sufficient safeguards to ensure the intelligence and security agencies act lawfully and maintain public confidence.

In August 2015 the New Zealand Law Society made a submission to the reviewers, suggesting there should be a comprehensive review of all security and intelligence legislation, with a view to replacing it with a single Act.

"The importance of the subject matter means the review should start from first principles and be a public inquiry conducted under the Inquiries Act 2013," the Law Society submitted.

The ISC will meet on 8 March to consider the report and determine when it will be tabled in Parliament.

"After the report has been tabled in Parliament, the Government can begin working on its response," Mr Key says.