New Zealand Acts

COMMERCE ACT 1986 - SECT 99I

99I Providing compulsorily acquired information and investigative assistance

1 Following a request by a recognised overseas regulator made in accordance with a co-operation arrangement, the Commission may do either or both of the following:

a) provide compulsorily acquired information to the recognised overseas regulator:

b) provide investigative assistance to the recognised overseas regulator.

2 Before providing compulsorily acquired information or investigative assistance under subsection (1), the Commission must be satisfied that—

a) providing the information or assistance will, or is likely to, assist the recognised overseas regulator in performing its functions or exercising its powers in relation to competition law; and

b) the provision of the information or assistance will not be inconsistent with the co-operation arrangement; and

c) the provision of the information or assistance will not significantly prejudice New Zealand's international trade interests.

3 If the Commission considers, after consultation with the Ministry of Foreign Affairs and Trade, that a request for compulsorily acquired information or investigative assistance may have significant trade consequences for New Zealand, the Commission must refer the matter to the Minister of Trade.

4 If a request is referred to the Minister of Trade, the Commission is deemed to be satisfied for the purpose of subsection (2)(c) only if the Minister of Trade states, in writing, that he or she is satisfied that the provision of the information or assistance will not significantly prejudice New Zealand's international trade interests.

5 In considering whether to provide compulsorily acquired information or investigative assistance in accordance with a co-operation arrangement, the Commission must also consider—

a) whether complying with the request will substantially affect the Commission's ability to perform its other functions under this Act or any other enactment; and

b) whether the recognised overseas regulator could more conveniently obtain the information or assistance from another source; and

c) whether the request would, in the opinion of the Commission, be more appropriately dealt with under the Mutual Assistance in Criminal Matters Act 1992 .

History: Section 99I: inserted, on 24 October 2012, by section 5 of the Commerce (International Co-operation, and Fees) Amendment Act 2012 (2012 No 84).