Explanatory note
This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, except for regulation 6, come into force on 11 February 2022. Regulation 6 comes into force on 1 April 2022. These regulations amend the Fuel Industry Regulations 2021 (the principal regulations).
Regulation 4 amends regulation 3 of the principal regulations to insert new definitions of co-ordination event, discounting or loyalty programme, financial quarter, financial year, fuel importer, and infrastructure sharing agreement.
Regulation 5 inserts new regulation 3A into the principal regulations. New regulation 3A provides for transitional arrangements as set out in new Schedule 1.
Regulation 6 inserts new Part 3A into the principal regulations, which relates to disclosure of information.
New regulation 17A sets out which engine fuels the new information disclosure requirements apply to. New Part 3A applies in respect of regular grade petrol, diesel, and premium grade petrol with a research octane number of 95 or 98.
New regulation 17B defines own for the purpose of new Part 3A.
New regulation 17C requires fuel importers to record and retain copies of fixed wholesale contracts, changes to those contracts, and unsuccessful offers and bids in relation to fixed wholesale contracts. The fuel importer must disclose those contracts to the Commerce Commission (the Commission) upon the Commission’s request.
New regulation 17D requires fuel importers to disclose certain information about fixed wholesale contracts to the Commission on an annual basis.
New regulation 17E requires wholesale suppliers and distributors to disclose financial statements to the Commission on an annual basis. This requirement does not apply to—
a wholesale supplier or distributor that is a subsidiary of a wholesale supplier or distributor that is required to disclose group financial statements under this regulation; or
a wholesale supplier or distributor that does not prepare financial statements under the Companies Act 1993.
New regulations 17F to 17I require fuel importers to record and retain, and disclose to the Commission on an annual basis, the following information:
certain information about formulas, costs, and volumes associated with importing and shipping engine fuel:
information about travel distances:
certain information about their 2 largest discounting or loyalty programmes:
information about their engine fuel storage capacity.
New regulation 17J requires wholesale suppliers and distributors (other than fuel importers) to record and retain information about their retail supply of engine fuel, and disclose that information to the Commission on an annual basis.
New regulation 17K sets out the information relating to fuel supply that fuel importers must record and retain, and disclose to the Commission on a quarterly basis.
New regulation 17L sets out the information relating to retail fuel sites that fuel importers must record and retain, and disclose to the Commission on a quarterly basis.
Regulation 7 inserts new Schedule 1, which relates to transitional provisions.
Regulatory impact statement
The Ministry of Business, Innovation, and Employment produced a regulatory impact statement on 19 August 2021 to help inform the decisions taken by the Government relating to the contents of this instrument.
A copy of this regulatory impact statement can be found at—
Issued under the authority of the Legislation Act 2019.
Date of notification in Gazette: 22 December 2021.
These regulations are administered by the Ministry of Business, Innovation, and Employment.