Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 


Commerce Act strengthened

New Zealand's Commerce Act is being strengthened to give the Commerce Commission more teeth and to bring New Zealand in line with its key trading partner Australia.

Acting Commerce Minister Trevor Mallard says offending body corporates will face higher penalties as a result.

"To bring us into line with Australia we will amend Section 36 of the Act which deals with anti-competitive behaviour by dominant firms in a market," he said.

"We are replacing the phrase “dominance” with the lower threshold of “a substantial degree of power in a market”; and replacing “use” with “take advantage of”.

"This means the section will apply to a greater number of firms and markets.

"We're also wanting to hear what the public has to say about how best to deal with the difficult task of proving that a firm acted with an anti-competitive purpose". There are two proposals on this which will be referred to the Commerce Select Committee for comment. These are:
 reversing the burden of proof on establishing “purpose” when the Commerce Commission is the applicant; or
 providing that purpose may be inferred from relevant conduct and circumstances.
"The merger and acquisition restriction in section 47 is to be refocussed to align with Australia.

"That will restrict mergers that have the effect of substantially lessening competition and will allow the High Court and Commerce Commission to take into account the full range of anti-competitive mergers.

Other matters in the package include:
 Increasing the penalties for offences by body corporates from the existing maximum of $5 million up to $10 million;
 Removing the requirement for the Commerce Commission to give an undertaking as to damages when seeking interim injunctions; and
 Removing a provision in the existing bill that may have inadvertently prohibited some franchising and other similar pro-competitive agreements.

"The new supplementary order paper will be referred to the Commerce Select Committee before the middle of the year and the public will have an opportunity to provide submissions to the Committee," Trevor Mallard said.

ends

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>

ALSO:

Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>

ALSO:

Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>

ALSO:

Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>

ALSO:

With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>

ALSO:

Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>

ALSO:

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news