New Zealand Acts

COMMERCE ACT 1986 - SECT 74B

74B Matters included in undertakings

1 An undertaking under section 74A may, without limitation, include either or both of the following:

a) an undertaking to pay compensation to any person or otherwise take action to avoid, remedy, or mitigate any actual or likely adverse effects arising from a contravention, or possible contravention, of this Act:

b) an undertaking to pay to the Commission all or part of the Commission’s costs incurred in investigating, or bringing proceedings in relation to, a contravention, or possible contravention, of this Act.

2 However, the Commission may accept an undertaking relating to the enforcement of section 47 only if the undertaking is to dispose of assets or shares specified in the undertaking.

3 If the Commission accepts an undertaking that involves payment of compensation to any person, or payment of the Commission’s costs, the Commission must make the following information publicly available:

a) the amount of the compensation, or of the Commission’s costs, that has been undertaken to be paid; and

b) a brief description of the circumstances and nature of the contravention or possible contravention of this Act to which the undertaking relates.

4 In this section, a
"contravention" means any of the following:

a) an actual contravention:

b) aiding, abetting, counselling, or procuring a contravention:

c) inducing a contravention, whether by threats, promises, or otherwise:

d) being in any way, directly or indirectly, knowingly concerned in, or party to, a contravention:

e) conspiring with any other person in a contravention.

History: Section 74B: replaced, on 26 October 2018, by section 12 of the Commerce Amendment Act 2018 (2018 No 42).