New Zealand Acts

COMMERCE ACT 1986 - SECT 58B

58B Additional provisions relating to authorisations

1 An authorisation granted to a person under section 58 has effect as if it were also an authorisation in the same terms to every other person named or referred to in the application for the authorisation as—

a) a party to the contract, arrangement, understanding, conduct, practice, or act to which the application relates; or

b) a person who is or would be bound by, or entitled to the benefit of, the covenant to which the application relates.

2 An authorisation granted to a person under section 58 may be expressed to apply to or in relation to another person who,—

a) in the case of an authorisation to enter into a contract or arrangement or arrive at an understanding, becomes a party to the proposed contract or arrangement at a time after it is entered into or becomes a party to the proposed understanding at a time after it is arrived at:

b) in the case of an authorisation to give effect to a provision of a contract, arrangement, understanding, or covenant, becomes a party to the contract, arrangement, understanding, or covenant at a time after the authorisation is granted:

c) in the case of an authorisation to require the giving of, or to give, a covenant, becomes bound by, or entitled to the benefit of, the covenant at a time after the covenant is given:

d) in the case of an authorisation to carry out or enforce the terms of a covenant, becomes bound by, or entitled to the benefit of, the covenant at a time after the authorisation is granted.

History: Section 58B: inserted, on 1 July 1990, by section 19 of the Commerce Amendment Act 1990 (1990 No 41).   Section 58B(1): replaced, on 5 April 2023, by section 26(1) of the Commerce Amendment Act 2022 (2022 No 11).     Section 58B(2)(b): amended, on 5 April 2023, by section 26(2) of the Commerce Amendment Act 2022 (2022 No 11).