Under subpart 11 of Part 4 of the Commerce Act 1986 (the Act), suppliers of specified airport services are subject to information disclosure regulation. Specified airport services have the meaning given to them in section 55A of the Act. The specified suppliers are the companies operating Auckland, Christchurch and Wellington International Airports (airport companies).
The Commission must make a determination specifying how information disclosure regulation applies to each airport company no later than 1 July 2010 (or, if the deadline for determining input methodologies is extended under section 52U(2) of the Act, no later than the day after the date to which that deadline is extended). Until the Commission makes this determination, the information disclosure requirements made under the Airport Authorities Act 1966, i.e. Airport Authorities (Airport Companies Information Disclosure) Regulations 1999, continue to apply.
The Commission’s determination may require suppliers to disclose certain specified information relevant to their performance (such as financial statements, prices and quality performance measures), including forward-looking information (such as forecasts and asset management plans).
The purpose of this form of regulation is to ensure that sufficient information is readily available to interested persons to assess whether the purpose of Part 4 is being met.