New Zealand: Implemented Commerce Act containing competition authority governance clauses

On 1 May 1986, the Commerce Act establishing the Commerce Commission enters into force. This Act mandates the Commission to act independently while performing its statutory functions and duties and exercising its powers under this and any other Act that expressly provides for the functions, powers, or duties of the Commission, excluding the Crown Entities Act 2004. The Commission, defined as a Crown entity, is tasked with overseeing cross-cutting economic activities within the country, ensuring fair competition and regulatory compliance. The Act specifies the composition of the Commission, detailing the appointment of no less than four and no more than eight members, including a barrister and solicitor of at least five years standing and specialised commissioners for telecommunications and groceries. Furthermore, it outlines the terms, conditions, and operational procedures for the Commission, including the establishment of Divisions for specific matters and the process for making determinations.