New Zealand Legislation: Bills

3 Purpose

• (1) The purpose of this Act is—

  • (a) to provide for when and how the Commerce Commission may provide compulsorily acquired information and investigative assistance to overseas regulators that have competition, consumer credit, or fair trading law functions, and to clarify other matters relating to the provision of information; and

  • (b) to allow the Commerce Commission to refund or provide exemptions in relation to certain fees payable in connection with applications under the Commerce Act 1986.

  (2) In order to achieve the purpose set out in subsection (1)(a), Part 1 amends—

  • (a) the Commerce Act 1986; and

  • (b) the Credit Contracts and Consumer Finance Act 2003; and

  • (c) the Fair Trading Act 1986.

  (3) In order to achieve the purpose set out in subsection (1)(b), Part 2 amends section 108 of the Commerce Act 1986 to allow regulations to be made to provide for refunds and exemptions.