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Retail Payment System Act 2022

Merchant surcharging, monitoring and enforcement, and miscellaneous provisions - Provisions of Commerce Act 1986 of general application

37: Powers of Commission based on subpart 8 of Part 4 of Commerce Act 1986

You could also call this:

"The Commission's Powers to Ensure Fair Retail Payment Services"

Illustration for Retail Payment System Act 2022

You can think of the Commission as a group that helps make sure retail payment services are fair. The Commission has some powers to help it do its job, which includes looking into how well people are supplying these services. It can also ask people to provide information or answer questions to help with its investigations. You might be asked to provide forecasts or plans, and the Commission can specify how it wants this information prepared. The Commission can also ask you to produce documents or answer questions about payment services. In some cases, it might ask for an expert opinion from a qualified person to help with its investigations. The Commission gets these powers from the Retail Payment System Act 2022 and the Commerce Act 1986, which you can find on the legislation website. The Commission uses these powers to make sure retail payment services are working well. It can look into things that have happened in the past 7 years to help it make decisions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS528163.

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Topics:
Money and consumer rights > Consumer protectionBusiness > Industry rulesBusiness > Fair trading
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36: Monitoring and investigation powers of Commission, or

"The Commission's power to check and investigate things"

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38: Application of other provisions of Commerce Act 1986, or

"Rules from the Commerce Act 1986 that apply to the Retail Payment System"

Part 3Merchant surcharging, monitoring and enforcement, and miscellaneous provisions
Provisions of Commerce Act 1986 of general application

37Powers of Commission based on subpart 8 of Part 4 of Commerce Act 1986

  1. For the purpose of carrying out its functions and exercising its powers under Part 2 and subpart 1 of this Part, the Commission may, in addition to exercising its powers under this Act and section 98 of the Commerce Act 1986, do any of the following:

  2. investigate any of the following:
    1. how effectively and efficiently any person is supplying retail payment services:
      1. how any standard or direction being considered by the Commission may be applied, or how any standard or direction has been applied, in considering standards or directions:
      2. examine, consider, or investigate any activity, cost, revenue, transfer, asset valuation, circumstance, or event that is occurring or that has occurred during the previous 7 years:
        1. by notice in writing, require any person—
          1. to prepare and produce forecasts, forward plans, or other information; and
            1. to apply any methodology specified by the Commission in the preparation of forecasts, forward plans, or other information:
            2. by notice in writing, require any person that the Commission has reason to believe may have information or documents relevant to an investigation, audit, or inquiry to do either or both of the following:
              1. produce or supply to the Commission documents and information in relation to payment services or the prices or operations of the person in respect of payment services:
                1. answer any questions about any matter that the Commission has reason to believe may be relevant to the investigation, audit, or inquiry:
                2. by notice in writing, require any person, at the time and place specified in the notice, to produce or supply to the Commission an expert opinion from an appropriately qualified person, or a member of a class of appropriately qualified persons, as determined by the Commission in relation to the matters in paragraphs (a), (b), (c), and (d)(i).

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