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New fees for Fair Trading Act offences

Hon Craig Foss

Minister of Consumer Affairs
8 August 2014 Media Statement

New fees for Fair Trading Act offences

Consumer Affairs Minister Craig Foss says new Fair Trading Act infringement fees coming into force today will further boost consumer confidence and drive competition.

The Commerce Commission is now able to issue infringement fees of up to $1500 for clear-cut offences, including breaching consumer information standards and disclosure requirements.

For example, a motor trader who fails to attach a completed consumer information notice to a used vehicle could be fined $1000.

“Any enforcement action by the Commerce Commission takes into account the seriousness of the offence, the harm caused and the public interest,” Mr Foss says.

“These fees are a new tool to help the Commission enforce the law but it will still prosecute businesses for these kinds of breaches when appropriate.

“We are creating an environment where well-informed consumers can participate with confidence and businesses can operate on a level playing field. Getting the regulatory framework right is key to driving competition and innovation in the marketplace.”

The fees are in addition to court imposed fines for serious offending - up to $200,000 per offence for an individual and up to $600,000 per offence for a company.

For more information on Fair Trading Act offences and enforcement guidelines:www.comcom.govt.nz/fair-trading/enforcement-of-the-fair-trading-act

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