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Act Repealed Latest version as at 29 March 1985 (as enacted) | 1985 No 67

Commerce Amendment Act (No. 2) 1985

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Act Repealed Latest version as at 29 March 1985 (as enacted) | 1985 No 67

Commerce Amendment Act (No. 2) 1985

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Commerce Amendment Act (No. 2) 1985

Public Act
  
1985 No 67
Date of assent
  
29 March 1985
 

Contents

An Act to amend the Commerce Act 1975

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:

1 Short Title and commencement

(1)

This Act may be cited as the Commerce Amendment Act (No. 2) 1985, and shall be read together with and deemed part of the Commerce Act 1975 (hereinafter referred to as the principal Act).

(2)

Except as provided in section 2(6) of this Act, this Act shall come into force on the day on which it receives the Governor-General’s assent.

2 Validation of substitution of new Third Schedule and new Schedule 3a

(1)

The revocation of the Third Schedule to the principal Act (as substituted by the Commerce Act (Mergers and Takeovers Notification) Order 1978) by the Commerce Act (Mergers and Takeovers Notification) Order 1983, and the substitution by the Commerce Act (Mergers and Takeovers Notification) Order 1983 of a new Third Schedule to the principal Act, are hereby declared to be, and to have always been, valid.

(2)

The revocation of Schedule 3a to the principal Act (as substituted by the Commerce Act (Mergers and Takeovers Notification) Order 1978) by the Commerce Act (Mergers and Takeovers Notification) Order 1983, and the substitution by the Commerce Act (Mergers and Takeovers Notification) Order 1983 of a new Schedule 3a to the principal Act, are hereby declared to be, and to have always been, valid.

(3)

The revocation of the Commerce Act (Mergers and Takeovers Notification) Order 1978 by the Commerce Act (Mergers and Takeovers Notification) Order 1983 is hereby declared to be, and to have always been, valid.

(4)

Section 47 of the Commerce Amendment Act 1983 is hereby consequentially repealed.

(5)

Nothing in this section limits the effect of section 26(2)(a) of the Commerce Amendment Act 1983, which, on 1 April 1984, repealed Schedule 3a to the principal Act (as substituted by clause 2(2) of the Commerce Act (Mergers and Takeovers Notification) Order 1983).

(6)

This section shall be deemed to have come into force on the 1st day of April 1984.

3 Certain merger or takeover proposals require consent before implementation

Section 68(4) of the principal Act (as enacted by section 26(1) of the Commerce Amendment Act 1983) is hereby amended by inserting, after paragraph (c), the following paragraph:

“(cc)

Where any activity specified in the second column of Class A of that Schedule is carried on by a body corporate that is interconnected with a participant, that activity shall be deemed to be carried on by the participant:”.

4 Persons entitled to appeal

Section 81b of the principal Act (as substituted by section 22 of the Commerce Amendment Act 1976) is hereby amended by repealing paragraph (g), and substituting the following paragraph:

“(g)

Where the Commission has made a decision or has given its consent under section 78(1) of this Act and the Examiner has furnished a report to the Commission under section 75(1) of this Act, the Examiner:”.

5 New Third Schedule substituted

The principal Act is hereby amended by repealing the Third Schedule (as substituted by the Commerce Act (Mergers and Takeovers Notification) Order 1983 and validated by section 2(1) of this Act), and substituting the Third Schedule set out in the Schedule to this Act.

6 Revocation

The Commerce Act (Mergers and Takeovers Notification) Order 1983 is hereby consequentially revoked.

Schedule NEW THIRD SCHEDULE TO COMMERCE ACT 1975

Section 5

“THIRD SCHEDULE Classes of Merger or Takeover Proposals Requiring Consent Before Implementation

Section 68(1)

Class A

Merger or takeover proposals in which a participant carrying on one of the activities specified in column 1 hereof effects a proposal with one or more participants carrying on any of the activities specified, in relation to the first-mentioned activity in column 2 hereof and, if specified, in which the aggregate value of the assets of all the participants is that specified or more than that specified in column 3 hereof.

Column 1 Column 2 Column 3
The brewing of beer The making, wholesaling or retailing of alcoholic beverages; or The making or wholesaling of non-alcoholic beverages; or Both
The processing of fruit and vegetables The processing of foodstuffs; or The wholesaling or retailing of processed foodstuffs; or Both $2,500,000
The transportation of goods by land (not including freight forwarding) The transportation of goods by land (not including freight forwarding) $2,500,000
The publishing of daily newspapers or Sunday newspapers or both Printing or publishing or both
The manufacture of paint or wallpaper or both The manufacturing or wholesaling or retailing of paint or wallpaper or both
The milling of flour or the baking of bread or both The milling of flour or the baking of bread or both $2,500,000

Class B

Merger or takeover proposals (other than those coming within Class A of this Schedule) in which the aggregate value of the assets of all the participants involved is $20,000,000 or more and—

(a)

In the case of a merger or takeover proposal involving not more than 2 participants, the value of the assets of the smaller participant is $2,500,000 or more; or

(b)

In the case of a merger or takeover proposal involving more than 2 participants, the aggregate value of the assets of the participants (excluding those of the largest participant) is $2,500,000 or more.”

This Act is administered in the Department of Trade and Industry.
Act Repealed Latest version as at 29 March 1985 (as enacted)

Commerce Amendment Act (No. 2) 1985

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