Commerce Commission will use beefed-up fines to chase non-notified mergers

Wilson Parking took over a long-term lease to operate the Capital Car Park in central Wellington without seeking clearance. (Image: Google Maps)

Greg Hurrell

Wed, 10 Aug 2022

The Commerce Commission has released a “greatest hits” of prosecutions against companies that had failed to notify it of acquisitions over recent years.Recently armed with stiffer penalties, thanks to the Commerce Amendment Act 2022, the regulator has reminded companies it can take retrospective action, including forcing divestments. The Commerce Act prohibits the acquisition of a business or its shares if it could substantially lessen competition in a market. The new amendment act increases maximum company fines from $5 millio...

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