New Zealand: Opened consultation on Review of the Commerce Act 1986 including anti-competitive agreements regulations

On 5 December 2024, the Ministry of Business, Innovation, and Employment opened a public consultation on the review of the current anti-competitive agreements regulation established by the Commerce Act 1986. The consultation closes on 7 February 2025. Proposed reforms to the Commerce Act aim to enhance clarity, reduce procedural barriers, and address gaps in regulating anti-competitive conduct. Suggestions include introducing statutory notification regimes to streamline exemptions for specific arrangements, empowering the Commerce Commission to grant class exemptions for pre-approved activities such as sustainability initiatives, and providing clearer guidance to businesses. Additionally, the Act could explicitly prohibit "concerted practices," addressing collusion or indirect coordination, such as price signalling, without requiring formal agreements.