Contributed by: Troy Pilkington, Joe Edwards and Chris Brunt
Published on: September 24, 2019
Hon Stuart Nash (Minister for Small Business) and Hon Kris Faafoi (Minister of Commerce and Consumer Affairs) today announced significant proposed changes to the Fair Trading Act 1986 (FTA), which will bring it more in line with prohibitions applying in Australia, including:
The changes mark a very significant change to New Zealand's commercial law framework, and will have far-reaching impacts on how businesses negotiate and contract with one another. The government's intention is to introduce the amending legislation in early 2020. There will be a further opportunity for affected parties to make submissions through the select committee process early next year.
Further details on the government's decision can be found here, and further details regarding the proposal can be found in Russell McVeagh's December 2018 alert here. If you have any questions about how these proposed changes could affect your business, please contact one of our experts below.
This article is intended only to provide a summary of the subject covered. It does not purport to be comprehensive or to provide legal advice. No person should act in reliance on any statement contained in this publication without first obtaining specific professional advice. If you require any advice or further information on the subject matter of this newsletter, please contact the partner/solicitor in the firm who normally advises you, or alternatively contact one of the partners listed below.
Partner, Competition and Antitrust
Consumer and Marketing Law
Competition and Antitrust