Submissions on acquisitions

The Commerce Commission is calling for submissions from business on how it should consider business acquisitions.

At present the Commerce Act prohibits acquisitions that result in market dominance being acquired or strengthened. Forthcoming amendments will raise the threshold to acquisitions that "substantially lessen competition."

Chairman John Belgrave stressed the commission was looking for submissions only on the approach the commission should take under the new regime, not on the regime itself.

Submissions should be made by December 1, when the commerce select committee reports back to Parliament.

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