Commerce Amendment Bill (No 2) Passed
23 May, 2001
Commerce Minister Paul Swain has welcomed the passage of the Commerce Amendment Bill (No 2) saying it's a significant piece of legislation for New Zealand business.
"The Bill beefs up the Commerce Act giving the Commerce Commission more teeth and bringing New Zealand in line with its key trading partner Australia," he said.
"This is important – last year we signed a Memorandum of Understanding on Business Law Coordination with Australia. The MOU promotes similar rules as far as possible between New Zealand and Australia so that business on both sides of the Tasman can do business with greater certainty.
"It is good news for the competitive environment in New Zealand, especially for small to medium sized businesses and ultimately consumers. It is one of a number of moves by the government to build confidence in the New Zealand market.
"I am very pleased to see this bill passed through parliament and look forward to a more competitive environment in New Zealand as a result," Paul Swain said.