Commerce (Cartels and Other Matters) Amendment Bill

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Hon Craig Foss

Commerce (Cartels and Other Matters) Amendment Bill

Government Bill

341—2

As reported from the Commerce Committee

Contents

Commentary

Key

1 Title

2 Commencement

3 Principal Act amended

Part 1
Substantive amendments to principal Act

4 Interpretation

Jurisdiction

5 Application of Act to conduct outside New Zealand

6 Section 29 repealed

Cartels

7 New heading and sections 30 to 33 substituted

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

10A Procedure for applications for authorisation of restrictive trade practices

10B Determination of applications for authorisation of restrictive trade practices

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

Lay members of High Court

13A Lay members of High Court in certain cases

Pecuniary penalties generally

13B Relationship between pecuniary penalties and criminal liability

Amendments relating to penalties for cartels

14 Pecuniary penalties

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

15 New section 80A substituted

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
Other amendments and transitional provision

23 Consequential and minor amendments to principal Act

23A Amendments to Shipping Act 1987

23B Consequential amendment to principal Act as result of amendments to Shipping Act 1987

23C Transitional provision relating to amendments to Shipping Act 1987

24 Consequential amendment to District Courts Act 1947

25 Consequential amendment to Civil Aviation Act 1990

Schedule
Consequential and minor amendments to principal Act

Legislative history


The Parliament of New Zealand enacts as follows: