Supplied Content
(Includes links to videos)
Wellington, January 18, 2018
Businesses using unfair and undue advantage that visits on them due to official positions and connections, company staff decrying competition in their sales pitch and other means are breaching the laws in force and can be subject to penalties.
Following is a statement issued by Competition and Consumer General Manager at the Wellington based Commerce Commission:
The Commerce Commission has launched a new series of videos and quick guides to help businesses and procurers understand competition law.
Every New Zealand business, no matter how big or small must comply with the Commerce Act, which promotes competition in markets for the long-term benefit of consumers. Businesses and individuals can face big penalties and individuals can be banned from running a company if they are found to have broken the law.
Ensuring choice
Competition between businesses is essential to keep prices low and quality high. It ensures consumers have a range of choice, and firms have incentives to innovate, invest and operate efficiently.”
The new resources cover anti-competitive conduct including bid-rigging, price-fixing and allocating markets, which can have serious negative effects for consumers, other businesses, and taxpayers. They also provide advice for businesses on how to report illegal activity they or their competitors have been involved in.
The videos and quick guides were initially prepared by the United Kingdom’s Competition and Markets Authority (CMA) and have been adapted for New Zealand law by the Commission.
The videos and quick guides can be found here.
Background
The videos and guides are intended to be a high level overview of competition law. Businesses should seek independent legal advice to ensure they are not at risk of breaching the Commerce Act.
Here are a few links to the Videos:
