Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Feedback sought on airport information disclosure

1 August 2014

Feedback sought on airport information disclosure

The Ministry of Business, Innovation and Employment (MBIE) today released a consultation paper inviting feedback on the regime that requires major airports to make their performance and financial information publicly available.

Iain Cossar, General Manager Commercial & Consumer Environment says the information disclosure regime set out in the Commerce Act allows regulators to monitor Auckland, Wellington and Christchurch airports’ potential use of market power.

“The Act requires that these three airports disclose information such as their financial statements, prices, pricing methodology, customer service and quality indicators,” he says.

The release of the consultation paper, Effectiveness of Information Disclosure Regulation for Major International Airports, follows reports on the three airports, completed last year by the Commerce Commission, which found mixed evidence on the effectiveness of the current information disclosure regime.

“In light of the Commerce Commission reports, it is timely to step back and review how well the regulatory regime for major international airports is doing in promoting outcomes consistent with those in competitive markets,” says Mr Cossar.

This document is being released at the same time as a Ministry of Transport consultation document, the Civil Aviation Act 1990 and the Airport Authorities Act 1966 Consultation Document.

“These documents are being released together so interested parties can get a picture of the whole regime and comment on the interaction between the Commerce Act with the price setting provisions in the Airport Authorities Act,” he says.

“Feedback will help determine whether the regulatory regime for major international airports is effective or whether further policy work is required,” says Mr Cossar.

The four month consultation ends on 28 November 2014. For more information and to make a submission see: www.med.govt.nz/business/competition-policy/part-4-commerce-act/airport-regulation/effectiveness-information-disclosure-regulation.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news