New Zealand Acts

COMMERCE ACT 1986 - SECT 53I

53I Section 52P determination to set out requirements for application of negotiate/arbitrate regulation

1 If negotiate/arbitrate regulation applies to regulated goods or services, the section 52P determination must set out the following:

a) the parties to the negotiation or arbitration:

b) the matters (including the prices and quality standards associated with the regulated goods or services) that the parties must agree to by negotiation, or are bound to by arbitral award:

c) the period or periods for which any negotiated settlement or arbitral award applies:

d) a reference to the input methodologies that apply:

e) the information that the parties must provide to the other parties and, if necessary, the arbitrator, and the time frames for that provision:

f) the processes for negotiations, including the form of involvement by the parties, and the form, scope, and coverage of any negotiated settlement:

g) the time frames for the negotiations (including stages in negotiations) and, in particular, the date by which, if negotiations are not complete, the parties must enter into arbitration to settle any remaining unresolved matters:

h) the terms of any compulsory arbitration that takes place under section 53J , including its form, procedures, the allocation of costs, and powers of the arbitrator:

i) the date by which the arbitral award must be made:

j) the manner in which the parties must make publicly available any negotiated settlement, arbitral award, or both.

2 The Commission may include in the determination any other matters it considers necessary or desirable to promote the purpose of negotiate/arbitrate regulation.

3 If the parties to a negotiation agree to arbitration, the arbitration may be on whatever terms they agree to, but must be completed within the time frames set for the negotiation.

4 The Commission may extend any time frames set out in a section 52P determination.

5 The terms of arbitration set by the Commission must—

a) allow the parties a reasonable period within which to agree on an arbitrator but, if agreement is not reached within that period (or any extended period allowed under subsection (4)), the terms must provide that the Commission must appoint the arbitrator (and may not appoint itself as the arbitrator); and

b) include provisions enabling the parties to enforce the arbitral award; and

c) include a right of appeal to the High Court, exercisable by any party to the arbitration, on a point of law only.

History: Section 53I: inserted, on 14 October 2008, by section 4 of the Commerce Amendment Act 2008 (2008 No 70).