The Industry Training Act 1992 introduced significant changes to vocational education and training in New Zealand. Based on a case study of a Waikato firm, this paper investigates whether the changes resulting from the Industry Training Act 1992 have enabled a medium-sized electrical manufacturing firm to meet its training needs. The paper also examines questions relating to wider issues in regard to vocational education and training in New Zealand. Specifically, it discusses the issue of voluntarism, as it relates to the finding of Industrial Training Organisations (ITOs), the creation of qualifications, and the proposed removal of developmental funding that is presently provided through the Education and Training Support Agency (ETSA).