Tuesday, February 19, 2013
Posted by D. Daniel Sokol
Mark Berry (New Zealand Commerce Commission) explains Developments in New Zealand Competition Law and Policy.
ABSTRACT: The New Zealand Commerce Commission is an independent statutory body with responsibility for enforcing competition law. The Commerce Act 1986 prohibits anticompetitive behavior and structures in markets. It applies broadly across the economy, including the public sector. The NZCC also enforces consumer legislation and is the industry-specific economic regulator for the electricity lines, gas pipelines, telecommunications, dairy, and airport sectors.
The NZCC functions as both an enforcement agency with sanctions requiring decisions by New Zealand's High Court; and a quasi-judicial body, with power to give clearances and authorizations for business acquisitions, and authorizations for certain restrictive trade practices.