Commerce Act 1986

Authorisations and clearances - Business acquisitions

69A: Commission may accept undertakings

You could also call this:

"The Commission can accept a promise from you to sell some assets when you buy a business"

When the Commission is deciding whether to give a clearance or grant an authorisation under section 66 or section 67, you can give them a written undertaking. This undertaking is a promise to dispose of certain assets or shares. The Commission can only accept this type of undertaking when giving a clearance or granting an authorisation. If you give the Commission an undertaking, it becomes part of the clearance or authorisation they give you for your business acquisition.

The Commission's decision to accept an undertaking overrides what is said in section 74A. You can make a promise to the Commission to get rid of some assets or shares when you are buying a business. This promise is called an undertaking and it is written down.

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This page was last updated on 31 August 2025

View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM89072.

Topics:

Business > Fair tradingMoney and consumer rights > Consumer protection

69: Effect of clearance or authorisation, or

"What happens when you get permission to buy a business or shares"

69AB: Authorisation or clearance void if undertaking contravened, or

"Breaking a promise made for a business deal cancels the permission you were given."

Part 5Authorisations and clearances
Business acquisitions

69ACommission may accept undertakings

In giving a clearance or granting an authorisation under section 66 or section 67, the Commission may accept a written undertaking given by or on behalf of the person who gave a notice under section 66(1) or section 67(1), as the case may be, to dispose of assets or shares specified in the undertaking.
The Commission shall not accept an undertaking in relation to the giving of a clearance or the granting of an authorisation under section 66 or section 67, other than an undertaking given under subsection (1).
An undertaking given to the Commission under subsection (1) is deemed to form part of the clearance given or the authorisation granted in relation to the acquisition to which the undertaking relates.
This section overrides section 74A.

Notes

Section 69A: inserted, on 1 January 1991, by section 23 of the Commerce Amendment Act 1990 (1990 No 41).
Section 69A(4): inserted, on 26 October 2018, by section 11 of the Commerce Amendment Act 2018 (2018 No 42).