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Commerce Commission - Latest News [Page 6]
Commission Grants Clearance For Reward To Acquire Southern Hospitality
Thursday, 27 July 2023, 3:58 pm | Commerce Commission
The Commerce Commission has granted clearance for Reward Supply Co Pty Limited to acquire 100% of the shares of Southern Hospitality Limited. Reward is an Australian company that supplies food service solutions in Australia and is a member of the ... More >>
Minimum Pricing Practice Hurts Kiwi Consumers And Retailers
Monday, 24 July 2023, 2:54 pm | Commerce Commission
The Commerce Commission is reminding grocery suppliers that requiring retailers to charge above minimum prices for their goods can breach the Commerce Act. Commerce Commission Chair, John Small, says that the practice can hit New Zealanders in the ... More >>
High-cost Lenders Cutting Interest Rates Or Exiting The Market, ComCom Review Shows
Monday, 17 July 2023, 12:29 pm | Commerce Commission
The Commerce Commission has completed a review into high-cost lenders following the introduction of specific high-cost lending rules in 2020 under the Credit Contracts and Consumer Finance Act (CCCFA). With high-cost lenders charging at least 50% in ... More >>
Commission Seeks Pecuniary Penalties For The First Time In High Court Civil Action
Monday, 17 July 2023, 11:28 am | Commerce Commission
The Commerce Commission has filed proceedings in the High Court against former high-cost lender Eagle M.A.N Group Limited (Eagle MAN), alleging it breached the Credit Contracts and Consumer Finance Act (CCCFA) when providing credit to borrowers between 2015-2022. ... More >>
Commission Clears Home Ventilation Systems Merger
Wednesday, 12 July 2023, 4:28 pm | Commerce Commission
The Commerce Commission has granted clearance for Volution Group plc to acquire 100% of the business and assets of Proven Systems Limited. Volution and Proven both supply home ventilation systems. Volution primarily supplies home ventilation systems ... More >>
Positive Progress On Restoring Aurora Energy’s Power Network, ComCom Says
Tuesday, 11 July 2023, 11:21 am | Commerce Commission
The Commerce Commission has today reported that Aurora Energy Limited (Aurora) is making positive progress in addressing safety and reliability issues across its network. Aurora, New Zealand’s seventh largest electricity distribution network by customer ... More >>
Commerce Commission Welcomes The Appointment Of The Grocery Commissioner, Pierre Van Heerden
Tuesday, 11 July 2023, 6:27 am | Commerce Commission
The Commerce Commission has today welcomed the appointment of Pierre van Heerden as the Grocery Commissioner by the Minister of Commerce and Consumer Affairs. Mr van Heerden will take up his role as the Grocery Commissioner at the Commerce Commission ... More >>
Commission Clears Inghams To Buy Bromley Park Hatcheries Businesses
Thursday, 6 July 2023, 8:23 pm | Commerce Commission
The Commerce Commission has granted clearance for Inghams Enterprises (NZ) Pty Limited (Inghams) to acquire the assets of the Cobb Commercial and Riverland businesses of Bromley Park Hatcheries Limited. Inghams is part of Inghams Group Limited, an Australian-based ... More >>
ComCom Concerned One NZ “100% Mobile Coverage” Ads Misleading – Issues Stop Now
Thursday, 6 July 2023, 10:41 am | Commerce Commission
The Commerce Commission has issued a Stop Now Letter to One NZ (formerly Vodafone NZ) for representations made in its campaign promoting “100% mobile coverage. Launching 2024”. Commerce Commission Chair, John Small, says the Commission’s early investigation ... More >>
Kookmin Bank To Refund $11m To Kiwi Borrowers In Settlement With ComCom
Tuesday, 4 July 2023, 3:45 pm | Commerce Commission
Kookmin Bank has committed to refunding more than $11 million to affected borrowers in New Zealand following a Commerce Commission investigation. As part of the settlement agreement entered into with the Commission, Kookmin admitted to failing to ensure ... More >>
Commission Updates Authorisation Guidelines And Application Form
Monday, 3 July 2023, 3:54 pm | Commerce Commission
The Commission has revised its Authorisation Guidelines and application form following amendments to the Commerce Act and the release of its Business Collaboration in response to an emergency guidance. The Commerce Act 1986 prohibits certain anticompetitive ... More >>
Commerce Commission Amends TAB/Tabcorp Authorisation
Wednesday, 28 June 2023, 10:38 am | Commerce Commission
Following a request from TAB New Zealand, the Commerce Commission (Commission) has decided to amend the authorisation granted by the Commission to certain arrangements between the New Zealand Racing Board (now called TAB) and Tabcorp Wagering Manager ... More >>
ComCom Files Appeal, Argues NZME Fine “manifestly Inadequate”
Monday, 26 June 2023, 10:09 am | Commerce Commission
The Commerce Commission has filed an appeal in the Auckland High Court against the sentence imposed on NZME Advisory Limited (NZME) last month for its offending under product safety laws, when it supplied magnetic puzzle toys through its previously ... More >>
Commission Opens Market Study Into Personal Banking Services
Wednesday, 21 June 2023, 1:03 pm | Commerce Commission
The Commerce Commission has opened a market study into personal banking services that will examine how well competition is working and consider options for enhancing competition for the long-term benefit of Kiwi consumers. Commerce Commission Chair, ... More >>
Statement Of Issues Released For Microsoft’s Proposed Acquisition Of Activision
Tuesday, 20 June 2023, 4:02 pm | Commerce Commission
The Commerce Commission has published a Statement of Issues relating to an application from Microsoft seeking clearance to acquire Activision Blizzard. The Statement of Issues outlines the Commission’s potential competition issues with the acquisition ... More >>
Telco Annual Monitoring Report Shows Rural Kiwis Paying More For Less
Thursday, 15 June 2023, 11:25 am | Commerce Commission
The Commerce Commission’s 2022 Annual Telecommunications Monitoring Report released today puts the spotlight on rural services for the first time – highlighting that Kiwis in more rural areas are likely to have significantly lower performing broadband ... More >>
Commission Publishes Draft Decisions On Key Rules For Energy And Airport Infrastructure
Wednesday, 14 June 2023, 11:07 am | Commerce Commission
The Commerce Commission is today seeking feedback on draft decisions on its regulatory rules governing energy networks and major international airports. The rules, known as input methodologies (IMs), provide certainty about how the Commission will approach ... More >>
Statement Of Prelim Issues Released For Moana’s Proposed Acquisition Of Sanford’s North Island Inshore Fishing Business
Monday, 12 June 2023, 8:40 pm | Commerce Commission
The Commerce Commission has published a statement of preliminary issues relating to an application from Aotearoa Fisheries Limited (trading as Moana New Zealand) seeking clearance to acquire Sanford Limited’s North Island inshore fishing business. ... More >>
Statement Of Issues Released For Reward’s Proposed Acquisition Of Southern Hospitality
Thursday, 8 June 2023, 4:37 pm | Commerce Commission
The Commerce Commission has published a statement of issues relating to an application from Reward Supply Co Pty Limited seeking clearance to acquire Southern Hospitality Limited. The Statement of Issues outlines the Commission’s potential competition ... More >>
Statement Of Preliminary Issues Released For Volution Group Application To Acquire Proven Systems
Thursday, 1 June 2023, 5:29 pm | Commerce Commission
The Commerce Commission has published a statement of preliminary issues relating to an application from Volution Group plc seeking clearance to acquire the business and assets of Proven Systems Limited. The statement outlines the key competition ... More >>
