Posted by admin on February 15, 2012
Proposed amendments to the Commerce Act are intended to assist businesses by deterring hard-core cartel conduct. Such conduct raises prices above the competitive level and, in turn, affects the competitiveness of those selling into domestic and international markets. The amendments also clarify the law in relation to cartels to ensure that genuine, pro-competitive arrangements are not deterred.
The article Criminalising Cartels, which appeared in the October issue, suggested that the reforms would capture a large number of commercial arrangements, put commercial players involved in genuine commercial arrangements through the criminal courts, and make commercial decisions more costly due to the increase need for legal advice and compliance.
It was based on an early exposure draft of the Commerce (Cartels and Other Matters) Bill, not the Bill introduced to Parliament in October 2011. The Bill is currently awaiting its first reading and referral to the Commerce Select Committee for further consideration. More information about the reforms can be found here or at www.med.govt.nz/cartels.
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