Fair Trading Act 1986

Miscellaneous provisions

48C: Definitions of terms used in sections 48B to 48O

You could also call this:

“Explaining important words used in the Fair Trading Act about working with other countries”

In sections 48B to 48O of the Fair Trading Act 1986, you’ll find some important terms defined. These definitions help explain how the Commerce Commission works with overseas regulators.

A ‘co-operation arrangement’ is an agreement between the Commission and an overseas regulator. This arrangement allows them to share information and help each other with investigations.

‘Compulsorily acquired information’ is information that the Commission gets when it uses its powers under section 47 or 47G. This information isn’t available to the public.

‘Investigative assistance’ means helping by using the Commission’s powers under section 47 or 47G, or any related powers.

An ‘overseas regulator’ is a body in another country that does similar work to what the Commission does in New Zealand for fair trading.

A ‘recognised overseas regulator’ is an overseas regulator that has a co-operation arrangement with the Commission.

These definitions are important for understanding how the Commission works with regulators in other countries to enforce fair trading laws.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4854606.

Topics:
Business > Fair trading
Money and consumer rights > Consumer protection

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48B: Purpose of sections 48C to 48O (which relate to assistance to overseas regulators), or

“Why the law helps regulators from other countries”


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48D: Restrictions on providing compulsorily acquired information and investigative assistance, or

“Rules about sharing information that was forced from someone with other countries”

Part 6 Miscellaneous provisions

48CDefinitions of terms used in sections 48B to 48O

  1. In sections 48B to 48O, unless the context otherwise requires,—

    co-operation arrangement means an arrangement concerning the Commission and an overseas regulator that is entered into under section 48E (a government-to-government co-operation arrangement) or section 48F (a regulator-to-regulator co-operation arrangement) for—

    1. the provision by the Commission of compulsorily acquired information and investigative assistance to the overseas regulator; and
      1. the provision by the overseas regulator of information and investigative assistance to the Commission

        compulsorily acquired information means information that—

        1. is acquired by the Commission, whether before or after this section comes into force, as a result of, or in relation to, the exercise by the Commission of any of its powers under section 47 or 47G, or any power incidental to those powers; and
          1. is not in the public domain

            investigative assistance includes providing assistance by way of exercising any power of the Commission under, or in relation to, section 47 or 47G, and any powers incidental to those powers

              overseas regulator means an overseas body that has fair trading law functions corresponding to those of the Commission under this Act

                recognised overseas regulator means an overseas regulator that is the subject of a co-operation arrangement.

                Notes
                • Section 48C: inserted, on , by section 5 of the Fair Trading (International Co-operation) Amendment Act 2012 (2012 No 86).