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Guarantees Amendment Bill, the Weights and Measures Amendment Bill, the Secondhand Dealers and Pawnbrokers Amendment Bill, the Carriage of Goods Amendment Bill and the Auctioneers Bill. The Bill will come into force on the day after it is enacted. However, there are transitional periods built into the Bill to allow time to implement various changes. In addition to the six-month extension given for the contracting out provisions and the 15-month extension for the unfair contract term provisions noted above, there are also sixmonth transitional periods relating to: • 'unsubstantiated representations' in trade; • layby sales, uninvited direct sales and extended warranty agreements; • infringement offences; • auctions and auctioneers; • the Carriage of Goods Act; • the guarantee as to delivery provisions in the CGA; and • the CGA's application to gas and electricity. For further information on the Consumer Law Reform Bill see our earlier client update here. Commerce Commission releases revised authorisation, and mergers and acquisitions guidelines The Commerce Commission has released revised guidelines that outline its approach to assessing businesses’ authorisation and merger clearance applications. The guidelines were finalised after a public consultation period in March. The revised guidelines are available here. New Zealand Commerce Commission (NZCC) Media releases The NZCC has issued the following media releases: Mergers and acquisitions SkyCity granted clearance to acquire Otago Casinos The NZCC has cleared SkyCity Entertainment Group Limited to acquire Otago Casinos Ltd. The proposed acquisition would result in SkyCity owning both casinos in Queenstown, SkyCity in the CBD and Otago Casinos at the Queenstown wharf. Click here for more PropertyIQ seeks clearance to acquire Terralink The NZCC has received an application from PropertyIQ NZ Limited seeking clearance to acquire the business and assets of Terralink International Limited. Click here for more NZCC opens investigation into Wilson Parking’s acquisition of assets of Tournament Parking The NZCC has opened an investigation into Wilson Parking New Zealand Limited’s acquisition of Tournament CORPORATE REPORTER – 29 July 2013 16
Parking Limited’s parking assets. The NZCC will consider whether the acquisition is likely to have resulted in a substantial lessening competition in any relevant market. Click here for more Telecommunications NZCC determines 26 companies liable for telecommunications levy The NZCC has released its determination of the amounts 26 telecommunications providers will pay towards the $50 million Telecommunications Development Levy (TDL) for 2011/12. The government uses the annual levy to pay for telecommunications infrastructure including the relay service for the deaf and hearing-impaired, broadband for rural areas, and improvements to the 111 emergency service. Click here for more Consumer issues Money lending car dealer fined $22,000 An Auckland-based car dealer has been fined $22,000 and ordered to pay $2,000 reparation in the Auckland District Court after admitting to a number of charges including misleading customers, selling unnecessary warranties, and charging higher interest rates than those agreed. In one case, he charged a customer over 60% interest on a car loan – 35% higher than the rate agreed. Click here for more Australian Competition and Consumer Commission (ACCC) Selected media releases The ACCC has issued the following media releases: Mergers and acquisitions ACCC proposes to conditionally reauthorise Virgin and Air New Zealand trans-Tasman alliance The ACCC has issued a draft decision proposing to grant conditional authorisation for three years for Virgin Australia and Air New Zealand Limited to continue their trans-Tasman alliance. Click here for more ACCC to not oppose the proposed acquisition of Hawker Supa IGA by Woolworths The ACCC announced it will not oppose the proposed acquisition by Woolworths Limited of the Supa IGA supermarket in Hawker, Australian Capital Territory. Click here for more Market behaviour ACCC grants interim approval to concrete carrier allocation system The ACCC has granted interim authorisation to Holcim (Australia) Pty Ltd to extend the operation of its cartage allocation system for concrete carriers in Western Australia. An authorisation previously granted in 2008 was due to expire on 30 June 2013. On 19 June 2013, Holcim lodged an application for reauthorisation to continue the operation of their cartage allocation system, and also requested interim authorisation. Click here for more CORPORATE REPORTER – 29 July 2013 17
Page 1 and 2: 29 JULY 2013 Welcome to Issue No. 2
Page 3 and 4: Accounting Infrastructure Reform Bi
Page 5 and 6: the New Zealand market as in anyway
Page 7 and 8: Consultation on DIMS and custody re
Page 9 and 10: The consultation is aimed at assist
Page 11 and 12: Financial Advisers (Australian Lice
Page 13 and 14: Lombard Finance directors lose thei
Page 15: (iv) Transitional period - The SOP

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