Commerce (Cartels and Other Matters) Amendment Bill

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Hon Simon Power

Commerce (Cartels and Other Matters) Amendment Bill

Government Bill



Explanatory note

1  Title

2  Commencement

3  Principal Act amended

Part 1
Substantive amendments to principal Act

4  Interpretation


5  Application of Act to conduct outside New Zealand

6  Section 29 repealed


7  New heading and sections 30 to 33 substituted

Cartel provisions

Acquisitions by overseas persons

8  New sections 47A to 47D inserted

Amendments relating to authorisations for restrictive trade practices

9  Effect of authorisation

10  When Commission may grant authorisation

11  Commission to prepare draft determination in relation to restrictive trade practices

Clearance regime for collaborative activities

12  New sections 65A to 65D inserted

Amendment relating to clearance for business acquisitions

13  Commission may give clearances for business acquisitions

Amendments relating to penalties for cartels

14  Pecuniary penalties

15  Body corporate not to indemnify certain persons in respect of pecuniary penalties

16  Court may order certain persons to be excluded from management of body corporate

17  Exemplary damages for contravention of Part 2

18  New section 82B inserted

Amendment relating to acquisitions by overseas persons

19  Pecuniary penalties

Attributing conduct

20  New section 90 substituted

Appeals relating to authorisations and clearances

21  Persons entitled to appeal

Increasing penalties

22  Offences

Part 2
Consequential and minor amendments

23  Consequential and minor amendments to principal Act

24  Consequential amendment to District Courts Act 1947

25  Consequential amendment to Civil Aviation Act 1990

Consequential and minor amendments to principal Act

The Parliament of New Zealand enacts as follows: