The Commission has begun work on developing the approach, process and guidance necessary to implement the raft of changes expected from the Consumer Law Reform Bill, subject to any further changes Parliament wishes to make.
“Our intention is that the Commission will be well placed to enforce the new requirements of the Fair Trading Act. We will be providing guidance to businesses and their advisers on how to comply and will expect all businesses to comply by the date the new law comes into force,” said Kate Morrison, General Manager, Competition.
At this stage the date the new law will come into force is expected to be 1 October 2013, but could be later depending on when the bill passes its third reading and is granted Royal Assent.
The Commission’s work covers all areas of change, and will result in new guidance being produced for businesses and their advisers. This guidance will be published on the Commission’s website. The Commission will also be out and about actively promoting these new resources and advice later this year. If you or your business would like to be kept up to date about this education programme and how the changes to the legislation affect you, please send your details to consumerlawreform@comcom.govt.nz
“The changes to the Fair Trading Act represent a significant step forward for consumer law enforcement in this country. The Commission intends to use its new powers thoughtfully and consistently for the benefit of all New Zealanders,” said Ms Morrison. “For businesses the message is clear – follow the changes to the legislation and ensure you are familiar with the Commission’s views and guidance so that you are not caught out when the Act changes.”
For more information on what’s contained in the proposed legislation go to the New Zealand Parliament's website.
