Commerce Commission could be given power to bust monopolies

Commerce Commission could be given power to bust monopolies
Duncan Webb says current competition law is too passive and reactive. (Image: NZME)
Rebecca Stevenson
A Labour government would review competition law with a view to giving the Commerce Commission the power to break up monopolies. Duncan Webb, the commerce and consumer affairs spokesperson, said the Commerce Act was too passive, and if the Labour party were re-elected, it would look closely at whether the act should be amended to beef up the competition regulator’s powers, including breaking up dominant firms. He said the Commerce Commission’s existing powers stopped the accumulation of market power or prevented abuse...

More Law & Regulation

Takeovers Panel will meet on NZME issue
Markets

Takeovers Panel will meet on NZME issue

The panel said in a media release today it had met on the issue of Grenon’s shareholding.

Staff reporters 04 Apr 2025
Insurer IAG admits fair dealing breaches
Law & Regulation

Insurer IAG admits fair dealing breaches

The Financial Markets Authority has filed a civil proceeding against IAG New Zealand Ltd for fair dealing breaches in relation to its insurance products.Some home, boat, car and caravan insurance policyholders were affected.IAG said it identified and reported the relevant issues...

Staff reporters 04 Apr 2025
H&S reform back with a vengeance
Law & Regulation

Bronwyn Heenan: H&S reform back with a vengeance

With all these changes, let's watch this space and wait for the details.

Bronwyn Heenan 04 Apr 2025
Telco fined $325k for misleading 'free' roaming claim
Law & Regulation

Telco fined $325k for misleading 'free' roaming claim

Telco 2degrees has been fined $325,000 after admitting it made misleading claims about its “free” Aussie business roaming plans.The Commerce Commission took action last year after claims made by 2degrees in its advertising campaign between 2020 and 2023 created an impression that...

Staff reporters 03 Apr 2025