This Act is administered in the Ministry of Economic Development.
3 Consideration of notices applying for clearance made before 26 May 2001
The Parliament of New Zealand enacts as follows:
(1) This Act is the Commerce (Clearance Validation) Amendment Act 2001.
(2) In this Act, the Commerce Act 1986 is called “the principal Act”.
“the principal Act”
This Act comes into force on the day after the date on which it receives the Royal assent.
(1) This section applies to a notice under section 66(1) of the principal Act seeking clearance for the acquisition of the assets of a business, or shares if it—
(a) was given to the Commission before the commencement of section 11 of the Commerce Amendment Act 2001; and
(b) had not been finally disposed of before that commencement.
(2) The principal Act applies to a notice (other than the notice seeking clearance for the proposed acquisition that was the subject of the proceedings Foodstuffs (Auckland) Limited v Commerce Commission and Progressive Enterprises Limited (CA 163/01, 19 September 2001)) to which this section applies as if section 11 of the Commerce Amendment Act 2001 had not been enacted.
(3) Every action of the Commission before the commencement of this Act must for all purposes be treated as being as valid and effectual as it would have been if this Act had come into force on the commencement of section 11 of the Commerce Amendment Act 2001.
(4) This section is for the avoidance of doubt.