Todd Petroleum Mining Company and Todd Taranaki apply for restrictive trade practice authorisation
29 August 2005
Todd Petroleum Mining Company Limited and Todd Taranaki Limited have applied to the Commerce Commission for authorisation to enter into a contract to which sections 27, 28 or 29 of the Commerce Act might apply. The relevant contract is the Maui Pipeline Operating Code.
The Commerce Act prohibits competitors agreeing to work together in a way that reduces competition between them. However, the Act does allow for authorisation of potentially anti-competitive business practices if the public benefit is greater than the detriment to competition.
The Act sets no deadline for the Commission to consider authorisation of a potentially anti-competitive practice. Public notices asking for submissions will be published shortly.
A public version of the application will shortly be available on the Commission's website under Public Registers.