Applies tough criminal sanctions (up to three times the gain) to hard-core cartel behaviour. Now includes amendments proposed by the Minister of Commerce extending the Commerce Act to cover international shipping and aviation. Mainly tidy-up amendments from select committee. Government proposes further amendments. Introduced Nov 2011, first reading July 2012, select committee reported back July 2013. Began its second reading on July 24 after a long delay with Commerce Minister Craig Foss saying he is satisfied the bill now has the right balance in dealing with behaviour which is “truly culpable” and not “legitimate collaborative purpose”. Sets up a process for companies to seek guidance on current practices from the Commerce Commission. Changes to bring shipping under general competition law remain in place. Completed its second reading on November 27 2014 with general support. On December 8, 2015 the Government indicated it would bring in amendments in the committee stage to delete provisions criminalising cartel behaviour. Commerce Minister Paul Goldsmith said he was concerned criminalisation would have a chilling effect on positive collaborative arrangements. Strong civil sanctions would remain as would the proposed clearance regime to allow competitors to seek guidance. He said ACT and United Future had indicated support. Bill the subject of intense lobbying from shipping sector and some exporters who fear the bill will prevent flexibility in vessel sharing arrangements and require too much bureaucratic oversight.  After many years of internal debate the Committee stage was held on August 2. The Govt finally decided to not criminalize cartel behaviour. Due to this NZ First and the Greens opposed the Bill progressing. Labour was supportive of criminalization, but said they supported the wider thrust of the Bill. Ministers indicated they were still working on giving the Commerce Commission more powers to hold market studies. A number of amendments were made around the various tests on behaviour and collaboration with the Govt arguing it had the balance right between beneficial co-operation and preventing cartel behaviour. Third reading completed on August 10 with the Greens and NZ First opposed.

Commerce (Cartels and Other Matters) Amendment Bill

The Bill would make those guilty of intentional cartel conduct liable for up to seven years in prison and/or a $500,000 fine. Introduced on Feb 15 and read a first time on Feb 20 and referred to the Economic Development, Science and Innovation Committee. Opposed by National. Reported back on August 17 with no changes. National still opposed. Second reading interrupted on Sept 27 and completed on Oct 25 with National and ACT opposed. Committee stage completed on March 13 with Government making amendments to allow cases to be heard in a District Court or the High Court. Third reading completed on April 4 with National continuing to oppose the Bill.  Commerce (Criminalisation of Cartels) Amendment Bill

Introduced on May 19 under Urgency. The bill amends the Commerce Act adding a new section 28A that will apply to covenants that have the purpose or effect of impeding the development of land or the use of a site for a grocery retail store, deeming such covenants as having the purpose or effect of substantially reducing competition in the relevant market. Referred to the Economic Development, Science and Innovation Committee. Reported back on June 16 with minor changes. Second reading June 21, committee stage June 23 and third reading on June 28 with all parties in agreement.

Commerce (Grocery Sector Covenants) Amendment Bill

A bill in the name of Green MP Mojo Mathers introduced on Nov 12. The Bill amends the Commerce Act to establish a supermarket adjudicator, to resolve disputes between supermarkets and suppliers. The adjudicator will be funded by a levy of supermarkets and suppliers and will have power to involve the Commerce Commission when required. Voted down at first reading by National, ACT and United Future on Dec 2.  Commerce (Supermarket Adjudicator and Code of Conduct) Amendment Bill

Introduced on March 28. The Bill will enable the Commerce Commission to undertake ‘market studies’ research into the structure and behaviour of markets, and compel organisations and businesses to provide information. It also repeals the cease and desist regime, introduces an enforceable undertakings regime, and makes amendments to the regulatory regime for airports under Part 4 of the Commerce Act. First reading interrupted on April 12 with National indicating it had some concerns about the Commission being able to self-initiate market studies. First reading completed on May 1 with National and ACT opposing, referred to the Transport and Infrastructure Committee. Reported back on Sept 12 with only minor changes and the parties positions unchanged. Given a high priority by the Government over concerns about petrol prices and completed second reading on Oct 16, committee stage on Oct 23 and third reading on Oct 24. National still expressed concerns about the powers conferred and how they would be used, but voted in favour. Commerce Amendment Bill

Introduced on March 10. The Bill makes a number of amendments to the Commerce Act. This included strengthening Section 36 around the misuse of market power aligning the law with Australia to make explicit conduct by persons with substantial market power that has the purpose, effect, or likely effect of substantially lessening competition in markets is prohibited. It also; repeals safe harbours for intellectual property, provides that cartel provisions in covenants are to be treated the same as those in contracts, increases the maximum pecuniary penalties for anti-competitive business acquisitions to align with those relating to anti-competitive agreements and increases the maximum number of Commerce Commission members from 6 to 8. Completed its first reading March 16 with all parties in support and referred to the Economic Development, Science and Innovation Committee. Reported back on Sept 14 with a number of changes including further alignment with Australia law and the use of market power across the Tasman. Second reading on Nov 9 supported by all parties. Committee stage completed on March 8. Third reading completed on March 30 with all parties in agreement. Commerce Amendment Bill

A bill in the name of National MP Matt Doocey drawn from the ballot on August 15. It amends the Companies Act to allow shareholders to elect to receive a digital copy of annual reports or notices instead of a printed copy. By agreement of all MPs the Bill was incorporated into a Statutes Amendment Bill during its committee stage on November 2 and will pass into law unopposed at a later date. Passed as part of the Statutes Amendment Bill on December 14 2016.  Companies (Annual Report Notice Requirements) Amendment Bill

Introduced on April 5. A member’s Bill in the name of  Todd Muller. It amends the Companies Act to give clarification of dividend rules outlined in sections 36 and 53, where there is currently doubt about the ability of a company constitution to provide for “dry shares”. All parties supported the bill at its first reading on August 8 and it was referred to select committee. Reported back from the Primary Production Committee on April 12  with technical amendments. Second reading completed on June 26 with Labour and NZ First withdrawing their support saying it was not needed. However the Greens still backed the Bill so it progressed. Committee stage completed on Oct 23 with Labour and NZ First now agreeing to support. Third reading completed on Nov 13 with all parties in support. Companies (Clarification of Dividend Rules in Companies) Amendment Bill

Introduced on Sept 23. The member’s bill in the name of Labour’s Duncan Webb seeks to makes clear a company director may take actions that take into account wider matters other than the financial bottom-line. This may include matters such as the principles of te Tiriti, environmental impacts, good corporate ethics, being a good employer, and the interests of the wider community. After being put on hold for a year, the bill was put forward for first reading on Sept 21, debate was interrupted with National indicating opposition. First reading completed on Nov 9 with National and Act opposed sent to the Economic Development, Science and Innovation Committee. Reported back on May 8 with evenly divided committee unable to agree on whether the bill should proceed, but recommending changes including removing the list of examples of factors directors may take into account. Second reading on June 7 with the bill’s sponsor (now Camilla Belich) indicating amendments would be introduced in the committee stage. National and Act opposed. Committee stage postponed to allow Belich time to prepare an SOP. Committee stage completed on July 16 with the bill amended to say “to avoid doubt” directors may take other factors than profit into account when making decisions. Third reading completed on Aug 1 with National and Act opposed.

Companies (Directors Duties) Amendment Bill. 

Introduced on June 2, the bill permanently puts in place changes made under Companies Office Registers Funding Validation Bill to allow the Companies Office to manage its registries as a portfolio when collecting and administering fees. First reading on June 21 and sent to the Finance and Expenditure Committee with National opposed. Reported back on Nov 10 with minor changes. Second reading on Nov 15 with National opposed. Passed through remaining stages under urgency on Nov 22 with National opposed.

Companies (Levies) Amendment Bill