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Fair_Trading_Amendment_Act_2006.xml.act
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Fair_Trading_Amendment_Act_2006.xml.act
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<?xml version="1.0" encoding="UTF-8"?>
<act id="DLM384850" in.amend="false" irdnumbering="no" xml:lang="en-NZ" act.no="49" act.type="public" date.as.at="2007-09-03" date.assent="2006-10-24" date.first.valid="2007-09-18" stage="in-force" year="2006">
<cover id="DLM384851">
<title xml:lang="en-NZ">Fair Trading Amendment Act 2006</title>
<assent>2006-10-24</assent>
<cover.reprint-note>
<para xml:lang="en-NZ"/>
<admin-office>This Act is administered by the <ministry>Ministry of Consumer Affairs</ministry>.</admin-office>
</cover.reprint-note>
</cover>
<contents>
<heading xml:lang="en-NZ">Contents</heading>
<toc/>
</contents>
<front id="DLM384852" xml:lang="en-NZ">
<enactment>The Parliament of New Zealand enacts as follows:</enactment>
</front>
<body id="DLM384853" prov-type="section" xml:lang="en-NZ">
<prov id="DLM384854" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">1</label>
<heading xml:lang="en-NZ">Title</heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="no"/>
<para xml:lang="en-NZ">
<text>This Act is the Fair Trading Amendment Act 2006.</text>
</para>
</subprov>
</prov.body>
</prov>
<prov id="DLM384855" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">2</label>
<heading xml:lang="en-NZ">Commencement</heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">1</label>
<para xml:lang="en-NZ">
<text>This Act comes into force on the day after the date on which it receives the Royal assent.</text>
</para>
</subprov>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">2</label>
<para xml:lang="en-NZ">
<text>However, <citation jurisdiction="nz">section <atidlm:link xmlns:atidlm="http://www.arbortext.com/namespace/atidlm" atidlm:key="353060" atidlm:branchLabel="_NOVERSION_" atidlm:name="prov 4" atidlm:xmlId="DLM797375" atidlm:state="UNCHANGED"><atidlm:linkcontent>4</atidlm:linkcontent><atidlm:resourcepair atidlm:markupType="intref" atidlm:isIncludeOrRef="1" atidlm:seqNum="359281" atidlm:sourceXmlId="DLM797375" atidlm:targetKey="2352607" atidlm:targetXmlId="DLM384857" atidlm:targetName="prov 4" atidlm:sourceName="DLM797375" atidlm:targetLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM384850.xml" atidlm:sourceLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM384850.xml" atidlm:state="UNCHANGED"><atidlm:metadata atidlm:name="Name" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Amend" atidlm:value="false" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Context" atidlm:value="/act[1]/body[1]/prov[2]" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Type" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Heading" atidlm:value="Commencement" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Label" atidlm:value="2" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Id" atidlm:value="DLM384850" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Number" atidlm:value="49" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Title" atidlm:value="Fair Trading Amendment Act 2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Year" atidlm:value="2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Revision_Number" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/></atidlm:resourcepair></atidlm:link></citation> only comes into force on a date to be appointed by the Governor-General by Order in Council.</text>
</para>
<notes>
<amends-note>
<amends-effective>
<authority>SR 2007/371</authority>
<date>2008-02-29</date>
</amends-effective>
<amends-affect>
<citation jurisdiction="nz">
<atidlm:link xmlns:atidlm="http://www.arbortext.com/namespace/atidlm" atidlm:key="704201" atidlm:branchLabel="_NOVERSION_" atidlm:name="DLM1089500 - Fair Trading Act 1986" atidlm:xmlId="DLM1089501" atidlm:state="UNCHANGED">
<atidlm:linkcontent>Fair Trading Act 1986</atidlm:linkcontent>
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<atidlm:metadata atidlm:name="Name" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/>
<atidlm:metadata atidlm:name="Amend" atidlm:value="false" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/>
<atidlm:metadata atidlm:name="Element_Context" atidlm:value="/act[1]/body[1]/prov[2]" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/>
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<atidlm:metadata atidlm:name="Legislation_Number" atidlm:value="49" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/>
<atidlm:metadata atidlm:name="Legislation_Title" atidlm:value="Fair Trading Amendment Act 2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/>
<atidlm:metadata atidlm:name="Legislation_Year" atidlm:value="2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/>
<atidlm:metadata atidlm:name="Revision_Number" atidlm:value="" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/>
</atidlm:resourcepair>
</atidlm:link>
</citation>
</amends-affect>
<amends-text>Commencement of section 4</amends-text>
</amends-note>
</notes>
</subprov>
</prov.body>
</prov>
<prov id="DLM384856" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">3</label>
<heading xml:lang="en-NZ">Principal Act amended</heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="no"/>
<para xml:lang="en-NZ">
<text>This Act amends the <citation jurisdiction="nz"><atidlm:link xmlns:atidlm="http://www.arbortext.com/namespace/atidlm" atidlm:key="353061" atidlm:branchLabel="_NOVERSION_" atidlm:name="Fair Trading Act 1986" atidlm:xmlId="DLM797376" atidlm:state="UNCHANGED"><atidlm:linkcontent>Fair Trading Act 1986</atidlm:linkcontent><atidlm:resourcepair atidlm:markupType="leg-title" atidlm:isIncludeOrRef="1" atidlm:seqNum="359282" atidlm:sourceXmlId="DLM797376" atidlm:targetKey="535000" atidlm:targetXmlId="DLM96438" atidlm:targetName="Fair Trading Act 1986" atidlm:sourceName="DLM797376" atidlm:targetLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM96438.xml" atidlm:sourceLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM384850.xml" atidlm:state="UNCHANGED"><atidlm:metadata atidlm:name="Name" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Amend" atidlm:value="false" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Context" atidlm:value="/act[1]/body[1]/prov[3]" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Type" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Heading" atidlm:value="Principal Act amended" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Label" atidlm:value="3" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Id" atidlm:value="DLM384850" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Number" atidlm:value="49" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Title" atidlm:value="Fair Trading Amendment Act 2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Year" atidlm:value="2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Revision_Number" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/></atidlm:resourcepair></atidlm:link></citation>.</text>
</para>
</subprov>
</prov.body>
</prov>
<prov id="DLM384857" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">4</label>
<heading xml:lang="en-NZ">New sections 5A and 5B inserted</heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="no"/>
<para xml:lang="en-NZ">
<text>The following sections are inserted after <citation jurisdiction="nz">section <atidlm:link xmlns:atidlm="http://www.arbortext.com/namespace/atidlm" atidlm:key="353062" atidlm:branchLabel="_NOVERSION_" atidlm:name="prov 5" atidlm:xmlId="DLM797377" atidlm:state="UNCHANGED"><atidlm:linkcontent>5</atidlm:linkcontent><atidlm:resourcepair atidlm:markupType="extref" atidlm:isIncludeOrRef="1" atidlm:seqNum="359283" atidlm:sourceXmlId="DLM797377" atidlm:targetKey="535055" atidlm:targetXmlId="DLM96493" atidlm:targetName="prov 5" atidlm:sourceName="DLM797377" atidlm:targetLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM96438.xml" atidlm:sourceLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM384850.xml" atidlm:state="UNCHANGED"><atidlm:metadata atidlm:name="Name" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Amend" atidlm:value="false" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Context" atidlm:value="/act[1]/body[1]/prov[4]" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Type" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Heading" atidlm:value="New sections 5A and 5B inserted" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Label" atidlm:value="4" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Id" atidlm:value="DLM384850" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Number" atidlm:value="49" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Title" atidlm:value="Fair Trading Amendment Act 2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Year" atidlm:value="2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Revision_Number" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/></atidlm:resourcepair></atidlm:link></citation>:</text>
<amend>
<prov id="DLM384858" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">5A</label>
<heading xml:lang="en-NZ">No liability under Act if not liable under <citation jurisdiction="nz">Securities Act 1978 or Securities Markets Act 1988</citation></heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="no"/>
<para xml:lang="en-NZ">
<text>A court hearing a proceeding brought against a person under this Act must not find that person liable for conduct—</text>
<label-para skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">a</label>
<para xml:lang="en-NZ">
<text>that is regulated by the <citation jurisdiction="nz">Securities Act 1978</citation> if that person would not be liable for that conduct under that Act:</text>
</para>
</label-para>
<label-para skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">b</label>
<para xml:lang="en-NZ">
<text>that is regulated by the <citation jurisdiction="nz">Securities Markets Act 1988</citation> if that person would not be liable for that conduct under that Act.</text>
</para>
</label-para>
</para>
</subprov>
</prov.body>
</prov>
<prov id="DLM384859" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">5B</label>
<heading xml:lang="en-NZ">Act does not apply to certain conduct regulated by takeovers code</heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="no"/>
<para xml:lang="en-NZ">
<text>Nothing in this Act applies to conduct in relation to any transaction or event regulated by the takeovers code that is in force under the <citation jurisdiction="nz">Takeovers Act 1993</citation> or incidental or preliminary to a transaction or event that is or is likely to be regulated by that code.</text>
</para>
</subprov>
</prov.body>
</prov>
</amend>
</para>
</subprov>
</prov.body>
</prov>
<prov id="DLM384860" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">5</label>
<heading xml:lang="en-NZ">New section 48A inserted</heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="no"/>
<para xml:lang="en-NZ">
<text>The following section is inserted after <citation jurisdiction="nz">section <atidlm:link xmlns:atidlm="http://www.arbortext.com/namespace/atidlm" atidlm:key="353063" atidlm:branchLabel="_NOVERSION_" atidlm:name="prov 48" atidlm:xmlId="DLM797378" atidlm:state="UNCHANGED"><atidlm:linkcontent>48</atidlm:linkcontent><atidlm:resourcepair atidlm:markupType="extref" atidlm:isIncludeOrRef="1" atidlm:seqNum="359284" atidlm:sourceXmlId="DLM797378" atidlm:targetKey="540626" atidlm:targetXmlId="DLM97345" atidlm:targetName="prov 48" atidlm:sourceName="DLM797378" atidlm:targetLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM97319.xml" atidlm:sourceLocator="file:///C:/epicuser/Doctypes/NZAct/fragxyxz_DLM384850.xml" atidlm:state="UNCHANGED"><atidlm:metadata atidlm:name="Name" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Amend" atidlm:value="false" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Context" atidlm:value="/act[1]/body[1]/prov[5]" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Element_Type" atidlm:value="prov" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Heading" atidlm:value="New section 48A inserted" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Label" atidlm:value="5" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Id" atidlm:value="DLM384850" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Number" atidlm:value="49" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Title" atidlm:value="Fair Trading Amendment Act 2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Legislation_Year" atidlm:value="2006" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/><atidlm:metadata atidlm:name="Revision_Number" atidlm:locale="xx_XX" atidlm:state="UNCHANGED"/></atidlm:resourcepair></atidlm:link></citation>:</text>
<amend>
<prov id="DLM384861" irdnumbering="no" skeleton="no" toc="yes" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">48A</label>
<heading xml:lang="en-NZ">Sharing of information with Securities Commission or Takeovers Panel</heading>
<prov.body>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">1</label>
<para xml:lang="en-NZ">
<text>The Commission may communicate to the Securities Commission or the Takeovers Panel any information that the Commission—</text>
<label-para skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">a</label>
<para xml:lang="en-NZ">
<text>holds in relation to the exercise of the Commission's powers, or the performance of its functions and duties, in respect of this Act; and</text>
</para>
</label-para>
<label-para skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">b</label>
<para xml:lang="en-NZ">
<text>considers may assist the Securities Commission or the Takeovers Panel in the exercise of their powers, or the performance of their functions and duties, in respect of false, misleading, or deceptive conduct under the <citation jurisdiction="nz">Securities Act 1978</citation> or the <citation jurisdiction="nz">Securities Markets Act 1988</citation> or the <citation jurisdiction="nz">Takeovers Act 1993</citation> or the takeovers code in force under that Act.</text>
</para>
</label-para>
</para>
</subprov>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">2</label>
<para xml:lang="en-NZ">
<text>The Commission may use any information communicated to it by the Securities Commission under <citation jurisdiction="nz">section 17B of the Securities Act 1978</citation> or by the Takeovers Panel under <citation jurisdiction="nz">section 15B of the Takeovers Act 1993</citation> in the Commission's exercise of its powers, or the performance of its functions and duties, in respect of this Act.</text>
</para>
</subprov>
<subprov skeleton="no" xml:lang="en-NZ">
<label auto.number="no" denominator="yes">3</label>
<para xml:lang="en-NZ">
<text>This section applies despite anything to the contrary in any enactment, contract, deed, or document.</text>
</para>
</subprov>
</prov.body>
</prov>
</amend>
</para>
</subprov>
</prov.body>
</prov>
</body>
<end id="DLM384862" xml:lang="en-NZ">
<leg-history id="DLM384863">
<heading xml:lang="en-NZ">Legislative history</heading>
<history-item>
<date>30 November 2004</date>
<description>Introduction (Bill 234-1)</description>
</history-item>
<history-item>
<date>14 December 2004</date>
<description>First reading and referral to Commerce Committee</description>
</history-item>
<history-item>
<date>15 June 2005</date>
<description>Reported from Commerce Committee (Bill 234-2)</description>
</history-item>
<history-item>
<date>21 February 2006</date>
<description>Second reading</description>
</history-item>
<history-item>
<date>10 October 2006</date>
<description>Divided from Securities Legislation Bill (Bill 234-2) as Bill 234-3D</description>
</history-item>
<history-item>
<date>12 October 2006</date>
<description>Third reading</description>
</history-item>
</leg-history>
</end>
</act>