New Zealand Acts

COMMERCE ACT 1986 - SECT 53B

53B Effect of being subject to information disclosure regulation

1 Every supplier of goods or services that are subject to information disclosure regulation must—

a) publicly disclose information in accordance with the information disclosure requirements set out in the relevant section 52P determination; and

b) supply to the Commission a copy of all information disclosed in accordance with the section 52P determination, within 5 working days after the information is first made publicly available; and

c) supply to the Commission, in accordance with a written notice by the Commission, any further statements, reports, agreements, particulars, or other information required for the purpose of monitoring the supplier’s compliance with the section 52P determination.

2 If a supplier of goods or services is subject to information disclosure regulation, the Commission—

a) may monitor and analyse all information disclosed in accordance with the information disclosure requirements; and

b) must, as soon as practicable after any information is publicly disclosed, publish a summary and analysis of that information for the purpose of promoting greater understanding of the performance of individual regulated suppliers, their relative performance, and the changes in performance over time.

3 To avoid doubt, the Commission may, as part of a summary and analysis, include an analysis of how effective the information disclosure requirements imposed on the goods or services are in promoting the purpose of this Part.

History: Section 53B: inserted, on 14 October 2008, by section 4 of the Commerce Amendment Act 2008 (2008 No 70).   Section 53B(3): inserted, on 26 October 2018, by section 8 of the Commerce Amendment Act 2018 (2018 No 42).