Commerce Act 1986
The aim of the Commerce Act is to promote competition in markets within New Zealand.  It prohibits conduct that restricts competition (restrictive trade practices) and the purchase of a business's shares or assets if that purchase leads to a substantial lessening of competition in the market.

Under Part 4A of the Commerce Act, the Commission is given powers to impose price control on electricity lines businesses, carry out re-calibration of the values of the fixed assets of line owners, conduct a review of the asset valuation methodology and administer the information disclosure regime.
 
For a full copy of the Commerce Act, click here to link to the New Zealand legislation website.

Fair Trading Act 1986
The Fair Trading Act was developed with the Commerce Act to encourage competition and to protect consumers from misleading and deceptive conduct and unfair trading practices.  The Act applies to all aspects of the promotion and sale of goods and services - from advertising and pricing to sales techniques and finance agreements. 

The Act also applies to pyramid schemes, and provides for consumer information standards covering country of origin (clothing and footwear) labelling, fibre content labelling, care labelling and supplier information notices relating to motor vehicles.  Under the Act, the Commission also enforces six product safety standards relating to baby walkers, pedal bicycles, flammability of children’s night clothes, cigarette lighters, household cots and toys for children aged up to three years.
 
For a full copy of the Fair Trading Act, click here to link to the New Zealand legislation website.   
 
For copies of the consumer information and product safety standards regulations enforced by the Commission under the Fair Trading Act, click on Search under Regulation and enter the relevant keywords, eg, cigarette lighter or baby walker. Click Search Now.

Electricity Industry Reform Act 1998
The Commission has an enforcement role under the Electricity Industry Reform Act Act.  The Act prohibits cross involvement between electricity lines businesses with either electricity retail or generation activities.
 
For a full copy of the Electricity Industry Reform Act, click here to link to the New Zealand legislation website.

Dairy Industry Restructuring Act 2001
The Commission has both enforcement and adjudication roles under the Dairy Industry Restructuring Act.  The Act provides for the Commission to undertake enforcement action and requires the Commission to issue determinations to resolve disputes between Fonterra and other parties.
 
For a full copy of the Dairy Industry Restructuring Act, click here to link to the New Zealand legislation website.

Telecommunications Act 2001
The Telecommunications Act regulates the supply of telecommunications services in New Zealand.  It requires the Commission to make determinations in respect of designated access and specified services and to undertake costing and monitoring activities relating to the Telecommunications Service Obligations.
 
For a full copy of the Telecommunications Act, click here to link to the New Zealand legislation website.

Credit Contracts and Consumer Finance Act 2003
The Commission has statutory responsibility for enforcing the Credit Contracts and Consumer Finance Act 2003.  The main provisions of the Act come into force on 1 April 2005.  The Act repeals the Credit Contracts Act 1981 and the Hire Purchase Act 1971.  The Act sets out a number of rules that apply to credit contracts, consumer leases and buy-back transactions of land.  These rules relate to the terms of consumer credit contracts (including terms relating to the calculation of interest, the charging of credit fees and contractual terms relating to credit-related insurance).  The Act also requires creditors to disclose information about credit transactions.  The Act sets out the circumstances under which consumer credit contracts can be cancelled and happens if the credit is repaid, and enables consumers to seek changes to credit contracts on the unforseen hardship.  There are civil and criminal consequences for breaching the provisions of the Act.

Provisions of the Act relating to buy-back transactions of land came into force on 14 October 2003 and are already being enforced by the Commission.

For a full copy of the Credit Contracts and Consumer Finance Act, click here to link to the New Zealand legislation website.