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Commerce Commission - Latest News [Page 37]
Commission Closes Investigation Into Datix’s Acquisition Of RL Solutions
Monday, 22 June 2020, 3:41 pm | Commerce Commission
The Commerce Commission closed its investigation into Datix’s acquisition of RL Solutions on 10 December 2020 as its concerns with the acquisition were addressed. A summary of the reasons outlining the Commission’s decision will be available ... More >>
AJ Park Seeks Clearance To Acquire Baldwins
Monday, 22 June 2020, 1:30 pm | Commerce Commission
The Commerce Commission has received a clearance application from AJ Park IP Limited to acquire the assets of Baldwins Intellectual Property, Baldwin Holdings Limited, Baldwins Intellectual Property Limited and Baldwins Law Limited. AJ Park is part ... More >>
Supplement Firm Fined For Mislabelling Products And Found Guilty Of Failing To Supply Information
Monday, 22 June 2020, 12:16 pm | Commerce Commission
Invercargill firm Gateway Solutions Limited (formerly trading as Silberhorn Limited) has been fined $194,400 in the Dunedin District Court for misrepresentations it made about its deer velvet health supplements. The company and its director and majority ... More >>
$120K In Fines For Unsafe “Ha-ha Groan Hammer” And Rubber Animals
Thursday, 18 June 2020, 10:49 am | Commerce Commission
Two importing companies have been fined a total of $120,750 on Fair Trading Act charges following toy safety investigations by the Commerce Commission. Feel So Good Limited was fined $60,000 and Espoir Limited was fined $60,750. Both companies supplied ... More >>
Draft Decision Approving Transpower’s $154m Major Capex Proposal
Tuesday, 16 June 2020, 9:08 am | Commerce Commission
The Commerce Commission has published its draft decision paper approving a major capital expenditure proposal from Transpower New Zealand Limited (Transpower). If finalised, the decision would allow Transpower to invest and increase its revenue ... More >>
Commission Receives Aurora Energy’s Application To Increase Prices To Fund $383 Mn Investment Plan
Tuesday, 16 June 2020, 8:38 am | Commerce Commission
The Commerce Commission has received Aurora Energy’s (Aurora) application to increase its prices to fund a $383 million three-year plan to address safety and reliability issues on its electricity lines network. Aurora, which supplies electricity to 90,000 ... More >>
Commission Grants Clearance For Verifone To Acquire Smartpay
Friday, 12 June 2020, 9:09 am | Commerce Commission
The Commerce Commission has granted clearance to Verifone New Zealand (Verifone) to acquire the assets used by Smartpay Holdings Limited and its subsidiaries to operate the Smartpay business in New Zealand (Smartpay) (the proposed acquisition). The parties ... More >>
Commission Finalises ‘fit And Proper’ Person Criteria
Thursday, 11 June 2020, 12:06 pm | Commerce Commission
The Commerce Commission has finalised the criteria it will use to assess whether a lender is ‘fit and proper’ under changes to the Credit Contracts and Consumer Finance Act (CCCF Act) after receiving submissions from interested stakeholders. ... More >>
Feedback Sought On Draft Review Of Mobile Access Termination Service (MTAS)
Wednesday, 10 June 2020, 8:52 am | Commerce Commission
The Commerce Commission is seeking feedback on its draft review findings that the Mobile Access Termination Service (MTAS) should remain regulated. “The purpose of the five-yearly review of MTAS is to determine whether we think there is merit ... More >>
Nelson Pharmacy Fined $344,000 And Director $50,000 For Price-fixing
Monday, 8 June 2020, 4:09 pm | Commerce Commission
The Wellington High Court has ordered Prices Pharmacy 2011 Limited and a director of the company, Stuart Hebberd, to pay fines of $344,000 and $50,000 respectively, after they admitted engaging in price-fixing in breach of the Commerce Act. The Commission ... More >>
Commissions Releases Guidelines On Approach To Authorisations After Law Change
Friday, 29 May 2020, 3:40 pm | Commerce Commission
The Commerce Commission has released guidelines on its approach to authorisation of some agreements as a result of temporary changes made to the Commerce Act under the COVID-19 Response (Further Management Measures) Legislation Act (COVID-19 Response ... More >>
Commission Issues Warning To Hong Kong Based Electronics Retailer
Thursday, 28 May 2020, 12:06 pm | Commerce Commission
Online electronics retailer BXT International Limited and its related companies (together known as Becextech) have been warned by the Commerce Commission for conduct that the Commission considers has likely breached the Fair Trading Act. The warning ... More >>
Dechra Granted Clearance To Acquire Osurnia From Elanco
Wednesday, 27 May 2020, 4:44 pm | Commerce Commission
The Commerce Commission has granted clearance to Dechra Pharmaceuticals PLC, Dechra Limited and Dechra Veterinary Products LLC to acquire the assets, rights and liabilities relating to Osurnia from Elanco Tiergesundheit AG. Osurnia is a treatment ... More >>
Whangarei Finance Company In $945K Settlement With Commission
Wednesday, 27 May 2020, 12:00 pm | Commerce Commission
Current and former borrowers of Whangarei-based finance company Profile Finance Limited will receive $945,334 in credits and refunds after Profile Finance signed a settlement agreement with the Commerce Commission. The Commission began investigating ... More >>
Investigation Opened Into Objectives’ Acquisition Of Master Business Systems
Tuesday, 26 May 2020, 3:02 pm | Commerce Commission
The Commerce Commission has opened an investigation into Objective Corporation Limited’s acquisition of Master Business Systems Limited (MBS). The Commission will consider whether the acquisition would be likely to substantially lessen competition in any ... More >>
Independent Tests Show NZ’s Broadband Performed Well During COVID-19 Lockdown
Thursday, 21 May 2020, 8:46 am | Commerce Commission
The Commerce Commission’s latest Measuring Broadband New Zealand report shows that on average, copper and fibre broadband connections experienced no significant decrease in download speeds during lockdown, despite unprecedented demand on broadband ... More >>
Feedback Wanted On Protections For Those That Chorus Wants To Move Off Copper And Broadband Services
Wednesday, 20 May 2020, 9:01 am | Commerce Commission
The Commerce Commission is seeking feedback on its draft ‘copper withdrawal code’. The code is intended to protect consumers that Chorus wants to move off its old copper network onto faster and more reliable technologies such as fibre networks. “By ... More >>
Commission Preparing To Assess Aurora's $400m Investment Plan & Associated Price Increases
Tuesday, 19 May 2020, 9:05 am | Commerce Commission
The Commerce Commission has published an introductory paper outlining its role ahead of electricity lines company Aurora Energy (Aurora) submitting its investment plan. Aurora, which supplies electricity to 90,000 homes, farms and businesses in Dunedin, ... More >>
Commission Reminds Retailers Of Their Obligations When Selling Online
Monday, 11 May 2020, 11:20 am | Commerce Commission
On the back of increases in online shopping in New Zealand in recent weeks, the Commerce Commission is reminding retailers of their obligations when they sell products online. The Commission has received a significant increase in consumer complaints ... More >>
Statement Of Issues Released For Elanco’s Application To Acquire Bayer’s Animal Health Business
Thursday, 7 May 2020, 6:04 pm | Commerce Commission
The Commerce Commission has published a statement of issues relating to an application from Elanco seeking clearance to acquire Bayer AG’s animal health business in New Zealand. The Statement of Issues outlines the Commission’s potential competition ... More >>
