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

 


International competition enforcement arrangement signed

Hon Craig Foss
Minister of Commerce
27 February 2013 Media Statement
International competition enforcement arrangement signed

Commerce Minister Craig Foss today welcomed the signing of a co-operation arrangement between the Commerce Commission and the Australian Competition and Consumer Commission (ACCC).

The co-operation arrangement gives effect to the Commerce (International Co-operation, and Fees) Amendment Bill, which passed into law late last year. It enables the Commerce Commission to provide the ACCC with information that has been compulsorily-acquired under the Commerce Act, Fair Trading Act, Telecommunications Act, and Credit Contracts and Consumer Finance Act, subject to specific safeguards.

“There is now a real potential for joint investigations and an even stronger relationship between the Commerce Commission and ACCC,” says Mr Foss.

“As some forms of anti-competitive behaviour, such as cartels extend across borders, the co-operation arrangement will allow the Commerce Commission to assist, and be assisted by the ACCC.

“This will result in more efficient enforcement of competition and consumer laws, and facilitate positive outcomes for consumers and businesses in both jurisdictions,” says Mr Foss.

To view the co-operation agreement visit http://www.comcom.govt.nz/international-relations/

Background

The Commerce Commission is an independent Crown entity established under the Commerce Act 1986. The Commission enforces legislation that promotes competition in New Zealand markets and prohibits misleading and deceptive conduct by traders. The Commission also enforces a number of pieces of legislation that, through regulation, aim to provide the benefits of competition in markets where effective competition does not exist. This includes in the telecommunications, dairy, electricity, gas pipelines and airport sectors.
The Australian Competition and Consumer Commission is an independent statutory authority. It was formed in 1995 to administer the Trade Practices Act 1974 (renamed the Competition and Consumer Act 2010 on 1 January 2011) and other acts. The ACCC promotes competition and fair trade in markets to benefit consumers, businesses and the community. It also regulates national infrastructure services.

ENDS

© Scoop Media

 
 
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 

Parliament Today:

The Kids: OECD Report Shows Huge Impact Of Poverty On Education

A new report from the OECD has again highlighted the negative effects of poverty, showing that disadvantaged children in New Zealand are more than six times more likely to underachieve in maths than children from wealthier homes. More>>

ALSO:

Pacific: NZ Pledges $500,000 To Help Address Zika

“With the Zika virus now confirmed in a number of Pacific countries, New Zealand is committed to helping limit the impact and spread of the virus in the region,” says Mr McCully. “New Zealand will provide $250,000 as a contribution to the WHO to implement the Pacific Zika Action Plan, and a further $250,000 to enable countries in the region to respond rapidly if required." More>>

ALSO:

Labour: Police Commissioner 'Doesn’t Get Force Needs'

The Police Commissioner has let down the public and his own force by insisting the police have what they need despite it taking a year to solve a burglary and overwhelming number of officers saying they are under-resourced, says Labour’s Police spokesman Stuart Nash. More>>

ALSO:

Gordon Campbell: On The US Pressure To Expand Our Role In Iraq

Foreign news services are being more forthcoming about what the “next 12 months” will entail – essentially, the defence ministers will be under US pressure to increase their “training” role preparatory to an assault on the city of Mosul in northern Iraq. More>>

ALSO:

Parliament Restarts: Prime Minister’s Statement

Our policy agenda and legislative programme will reflect the Government’s four priorities: • to responsibly manage the Government’s finances • to build a more competitive and productive economy • to deliver better public services to New Zealanders, an • to support the rebuilding of Christchurch. More>>

ALSO:

NZEI Survey Report: Special Needs Students Missing Out

The survey revealed that around 16 percent of students were on schools’ special needs registers, but nearly 90 percent of schools’ special needs coordinators did not believe there was adequate support for students and their learning... More>>

ALSO:

Interim Report: Waitangi Tribunal On Ture Whenua Legislation

Labour on Proposed changes to Maori land rules: “To have Treaty Negotiations Minister Chris Finlayson dismiss findings as ‘bizarre’ is totally disingenuous and disrespectful. What’s bizarre is Maori Development Minister Te Ururoa Flavell stubbornly pushing through this Bill before the Waitangi Tribunal has even completed its report..." More>>

ALSO:

Spy Update: Appointment Of GCSB Acting Director

GCSB Chief Legal Advisor Lisa Fong will become the Acting Director of the Government Communications Security Bureau (GCSB) from 15 February 2016, Minister Responsible for the GCSB Christopher Finlayson announced today. More>>

Get More From Scoop

 

LATEST HEADLINES

 
 
 
 
 
 
 
 
 
Parliament
Search Scoop  
 
 
Powered by Vodafone
NZ independent news