New Zealand Acts

COMMERCE ACT 1986 - SECT 53Z

53Z Prioritisation by Commission

1 The Commission is not required to consider any more than 4 proposals for a customised price-quality path relating to the same type of regulated goods or services in any one year.

2 If the Commission receives more than 4 proposals for a customised price-quality path relating to the same type of regulated goods or services in any one year, the Commission—

a) may defer the additional proposals to a subsequent year; but

b) must prioritise its consideration of the proposals in accordance with the criteria in subsection (3).

3 The criteria for Commission decisions on priorities are as follows:

a) quality and completeness of the initial proposal:

b) urgency of any proposed additional investment (compared to historic rates of investment) required to meet consumer requirements on quality:

c) materiality of the proposal relative to the size and revenues of the supplier.

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