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Commerce Commission - Latest News [Page 26]
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 >>
Commission Grants Clearance For Pact To Acquire Flight
Thursday, 17 December 2020, 9:45 am | Commerce Commission
The Commerce Commission has granted clearance to Pact Group Holdings Limited (Pact) to acquire the assets and business of Flight Plastics Limited in New Zealand and the packaging-related assets of Flight Extruded Plastics LP in Adelaide (together, ... More >>
New Report Highlights Electricity Lines Companies’ Financial Performance And Service Quality
Thursday, 17 December 2020, 8:40 am | Commerce Commission
The Commerce Commission has today published a report and dashboard on the trends in performance of local lines companies to help New Zealanders better understand how and why the prices and service quality of their local electricity lines companies ... More >>
Noel Leeming Group Warned For Making Delivery Representations Without Reasonable Grounds During COVID-19 Lockdown
Wednesday, 16 December 2020, 9:56 am | Commerce Commission
Noel Leeming Group has been warned by the Commerce Commission for making delivery representations about two products which, in the Commission’s view, it did not have reasonable grounds for at the time the representations were made. The warning ... More >>
Commission Publishes Final Report On Fonterra’s 2020/21 Milk Price Manual
Tuesday, 15 December 2020, 8:27 am | Commerce Commission
The Commerce Commission today published its final report on its annual review of Fonterra’s Farmgate Milk Price Manual for the 2020/21 dairy season (Manual), which contains Fonterra’s methodology for calculating its base milk price. This year’s ... More >>
Papakura Vehicle Dealer Fined $67,500 Over "as Is, Where Is" Claims And CINs
Monday, 14 December 2020, 9:57 am | Commerce Commission
Auckland motor vehicle trader BNZ JP Euro Auto Parts Limited has been fined $67,500 for misrepresenting consumers’ rights under the Consumer Guarantees Act 1993 (CGA) and for failing to provide Consumer Information Notices (CINs). BNZ JP Euro had earlier ... More >>
Commission Seeks Feedback On Funding To Improve Work In Regulated Sectors
Thursday, 10 December 2020, 9:08 am | Commerce Commission
The Commerce Commission is seeking feedback on the level of funding needed over the next five years to help deliver its regulation of the telecommunications, electricity and gas sectors. The Commission’s regulatory functions are funded through levies ... More >>
Commission Releases Preliminary Issues And Proposed Scope For Grocery Study
Thursday, 10 December 2020, 8:26 am | Commerce Commission
The Commerce Commission has today released a paper outlining the preliminary issues it may explore and the proposed scope for its market study into the grocery sector. “We expect that the issues we focus on will evolve as our understanding of the ... More >>
Commission Finalises Consumer Protections For Withdrawal Of Copper Phone And Broadband Services By Chorus
Thursday, 10 December 2020, 8:18 am | Commerce Commission
The Commerce Commission has finalised its Copper Withdrawal Code that sets out the requirements Chorus, the provider of New Zealand’s copper telecommunications network, must meet before it can stop providing wholesale copper phone and broadband services ... More >>
Commission To Investigate Safety Warehouse “The Drop” Event
Wednesday, 9 December 2020, 5:00 pm | Commerce Commission
The Commerce Commission has opened an investigation into representations made by Greenback Ecommerce Limited trading as The Safety Warehouse in relation to the “The Drop” event of 5 December. The investigation will be into whether any representations ... More >>
Commission Urges Caution Over Toy And Bike Purchases As Four Companies Warned
Wednesday, 9 December 2020, 9:54 am | Commerce Commission
The Commerce Commission is urging consumers to take a second look at the toys and bikes they purchase this Christmas, as four companies are warned over product safety. “We want consumers to think hard about the toys and bikes they buy this Christmas. ... More >>
Former High-cost Lender Warned Over Failure To Adhere To Responsible Lending Requirements
Thursday, 3 December 2020, 8:56 am | Commerce Commission
The Commerce Commission has issued a warning to Superloans Napier Limited and Superloans Porirua Limited that they are likely to have failed to comply with the lender responsibility principles set out in the Credit Contracts and Consumer Finance Act 2003 (CCCF Act). ... More >>
Final Decision On Allocation Of $10 Million Telecommunications Development Levy
Thursday, 3 December 2020, 8:38 am | Commerce Commission
The Commerce Commission has today released its final determination on the allocation of payments for the Government’s $10 million Telecommunications Development Levy (TDL) for 2019/20. The TDL is paid by providers earning more than $10 million per ... More >>
BNZ Warned Over Responsible Lending And Disclosure Failures
Wednesday, 2 December 2020, 1:14 pm | Commerce Commission
The Bank of New Zealand (BNZ) has been warned by the Commerce Commission over likely responsible lending breaches and failures to provide timely and accurate information to borrowers. In the Commission’s view, BNZ likely breached responsible lending ... More >>
BNZ Warned Over Responsible Lending And Disclosure Failures
Wednesday, 2 December 2020, 9:02 am | Commerce Commission
The Bank of New Zealand (BNZ) has been warned by the Commerce Commission over likely responsible lending breaches and failures to provide timely and accurate information to borrowers. In the Commission’s view, BNZ likely breached responsible lending ... More >>
Statement Of Issues Released For NEP Acquisition Of Sky’s Outside Broadcasting Assets
Monday, 30 November 2020, 8:42 am | Commerce Commission
The Commerce Commission has published a statement of issues relating to an application from NEP Broadcast Services New Zealand Limited seeking clearance to acquire from Sky Network Television Limited the assets of its outside broadcasting business, Outside ... More >>
How Real Is That Bargain?
Thursday, 26 November 2020, 8:55 am | Commerce Commission
The Commerce Commission urges retailers and consumers to think hard about the bargains being offered as ‘Black Friday’ and Christmas draw near. Black Friday has now overtaken Boxing Day in terms of retail spending, according to data from electronic ... More >>
Commerce Commission Finalises Wellington Electricity’s Allowable Revenue From April 2021
Thursday, 26 November 2020, 8:44 am | Commerce Commission
The Commerce Commission has released its final decision on how it will move Wellington Electricity Lines Limited from a customised price-quality path (CPP) to a default price-quality path (DPP) from 1 April 2021 to 31 March 2025, following industry feedback ... More >>
Commission Consults On Approving $36 Million Investment To Maintain Reliable Electricity Supply In South Auckland
Thursday, 26 November 2020, 8:39 am | Commerce Commission
The Commerce Commission has released its draft decision allowing Transpower to invest $36 million to replace ageing infrastructure and cater for increasing electricity demand in South Auckland. Transpower, which owns and operates the national electricity ... More >>
Commission Opens Market Study Into Grocery Sector And Publishes Process Paper
Thursday, 19 November 2020, 8:54 am | Commerce Commission
The Commerce Commission has commenced a market study into factors that may affect competition in the grocery sector following publication of terms of reference for the study by the Minister of Commerce and Consumer Affairs. “The price and quality ... More >>
