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Commerce Commission - Latest News [Page 25]
Online Lender Moola In $2.8m Settlement With Commission Over Fees
Wednesday, 3 March 2021, 10:11 am | Commerce Commission
High cost short term lender Moola.co.nz Limited (trading as Moola) has agreed a settlement with the Commerce Commission where it is required to credit or refund approximately $2.8 million to current and former borrowers, after acknowledging the ... More >>
Statement Of Preliminary Issues Released For Application To Increase Shareholdings In Lowe Joint Ventures
Friday, 26 February 2021, 4:41 pm | Commerce Commission
The Commerce Commission has published a statement of preliminary issues relating to the clearance application from Taranaki By-Products Limited for it, or a related company, to increase its shareholdings in three joint ventures with the Lowe Corporation. ... More >>
$400,000 Fine For "carefully Crafted" Home Funding Group Scheme
Thursday, 25 February 2021, 9:57 am | Commerce Commission
A company which falsely claimed to offer a savings scheme to assist low-income families buy a home has been fined $400,000 following a Commerce Commission investigation. In a formal proof hearing in the Auckland District Court on 12 January, Home Funding ... More >>
Auckland Council Warned Over Lending Failures
Wednesday, 24 February 2021, 10:47 am | Commerce Commission
Auckland Council has been warned by the Commerce Commission for potential breaches of the Credit Contracts and Consumer Finance Act (CCCF Act) in relation to its Retrofit Your Home Programme (RYH Programme). Auckland Council reported the matter to the ... More >>
Trade Me Seeks Clearance To Acquire homes.co.nz
Thursday, 18 February 2021, 7:03 pm | Commerce Commission
The Commerce Commission has received a clearance application from Trade Me Limited seeking clearance to acquire 100% of the shares or assets of PropertyNZ Limited, which owns and operates the homes.co.nz website. Trade Me owns and operates an online ... More >>
Consultation Open On Chorus’ Proposal To Spend $1.6 Billion During First Period Of New Fibre Regulatory Regime
Friday, 12 February 2021, 8:28 am | Commerce Commission
The Commerce Commission is consulting on Chorus’ proposal to spend $1.6 billion over the first three years of the new fibre regulatory regime. Under the new regime, Chorus will be subject to price-quality regulation. This means the Commission sets ... More >>
Taranaki By-Products Seeks Clearance To Increase Shareholdings In Lowe Joint Ventures
Thursday, 11 February 2021, 3:56 pm | Commerce Commission
The Commerce Commission has received a clearance application from Taranaki By-Products Limited for it, or a related company, to increase shareholdings in three joint ventures with Lowe Corporation. It is proposed that: • Taranaki By-Products will acquire ... More >>
Unison Networks Issued With Compliance Advice After Contravening Quality Standards
Wednesday, 10 February 2021, 9:02 am | Commerce Commission
The Commerce Commission has issued a compliance advice letter to power lines company Unison Networks for contravening its network quality standards through an excessive level of power outages in 2017 and 2018. Unison owns and operates the poles, lines ... More >>
Horizon Energy Warned For Failing To Meet Good Industry Practice On Lines Network
Wednesday, 10 February 2021, 8:58 am | Commerce Commission
The Commerce Commission has warned power lines company Horizon Energy for contravening its network quality standards through an excessive level of power outages in the 2017 and 2018 years. Horizon owns and operates the poles, lines and other equipment ... More >>
Businesses Must Be Clear And Upfront About Public Holiday Surcharges
Friday, 5 February 2021, 8:52 am | Commerce Commission
As Waitangi Day approaches the Commerce Commission is reminding businesses that if they choose to add surcharges then they must be clearly disclosed and the reasons for the surcharge accurately described to avoid breaching the Fair Trading Act 1986. ... More >>
Commission Grants Clearance For NEP To Acquire Sky’s Outside Broadcasting Assets
Friday, 5 February 2021, 6:19 am | Commerce Commission
The Commerce Commission has granted clearance for NEP Broadcast Services New Zealand Limited to acquire from Sky Network Television Limited the assets of its outside broadcasting business, Outside Broadcasting Limited. Chair Anna Rawlings said the ... More >>
Commission Consults On Technical Changes To Draft Determination For Aurora Energy’s Customised Price-Quality Path
Thursday, 4 February 2021, 8:43 am | Commerce Commission
The Commerce Commission is consulting on two proposed technical changes to its draft determination on Aurora Energy’s proposal for a customised price-quality path (CPP). In November 2020, the Commission published and consulted on its draft decision on ... More >>
Survey Launched To Help Commission Promote Competition In Telecommunications Markets
Thursday, 28 January 2021, 12:58 pm | Commerce Commission
The Commerce Commission has launched an online survey to help telecommunications stakeholders have their say on the next phase of regulation for fibre service providers. It follows the Commission finalising the key regulatory rules, requirements and processes ... More >>
Statement Of Preliminary Issues Released For Can Plan / Nelmac Clearance Application
Friday, 22 January 2021, 12:02 pm | Commerce Commission
The Commerce Commission has published a statement of preliminary issues relating to an application from Can Plan Nelson Limited (Can Plan) to acquire certain assets of Nelmac Limited’s (Nelmac/s) waste collection business, which trades as Betta ... More >>
Stop Now Letter Issued To Promoter Of Lion's Share Scheme
Tuesday, 19 January 2021, 11:59 am | Commerce Commission
The Commerce Commission has issued a Stop Now letter to Shelly Cullen, promoter of Lion’s Share, which the Commission believes is likely a pyramid selling scheme. Pyramid selling schemes are prohibited under the Fair Trading Act 1986. The Commission ... More >>
Commission Publishes Revised Authorisation Guidelines And Application Forms
Wednesday, 23 December 2020, 12:49 pm | Commerce Commission
The Commerce Commission has released its updated Authorisation Guidelines that explain its approach to assessing applications to authorise agreements or mergers in the public interest. The Guidelines were last updated in 2013 and since then the Commission ... More >>
Commission Closes Investigation Into Beijer Acquisitions
Tuesday, 22 December 2020, 6:55 pm | Commerce Commission
The Commerce Commission has closed its investigation into Beijer Ref AB’s 2018 acquisition of Heatcraft New Zealand Limited, and its 2019 acquisition (via its subsidiary Kirby NZ Limited) of a right to import hydrofluorobcarbons (HFCs) into New Zealand ... More >>
Can Plan Seeks Clearance To Acquire The Assets Of The Betta Bins Waste Collection Business
Tuesday, 22 December 2020, 1:06 pm | Commerce Commission
The Commerce Commission has received a clearance application from Can Plan Nelson Limited (Can Plan) to acquire certain assets of Nelmac Limited’s (Nelmac/s) waste collection business, which trades as Betta Bins. These assets include two Side Loader ... More >>
Statement Of Issues Released For Aon/Willis Towers Watson Clearance Application
Monday, 21 December 2020, 4:15 pm | Commerce Commission
The Commerce Commission has published a Statement of Issues relating to an application from Aon plc seeking clearance to acquire Willis Towers Watson Public Limited Company as part of a global transaction. The Statement of Issues outlines the Commission’s ... More >>
Commission Seeks Feedback On Draft Cartel Leniency And Immunity Policy
Friday, 18 December 2020, 9:59 am | Commerce Commission
The Commerce Commission is consulting on its revised cartel leniency and immunity policy and revised template leniency agreement. The cartel leniency and immunity policy has been updated to reflect changes to the Commission’s cartel leniency ... More >>
