New Zealand Reviews Commerce Act

On May 22, it was announced that the government of New Zealand was reviewing the Commerce Act, which encompasses its antitrust laws that cover mergers and acquisitions in order to ensure that New Zealand companies would be able to compete globally. Commerce Minister Lianne Dalziel reportedly said that the government may consider granting increased powers to the Commerce Commission, which functions as the New Zealand antitrust regulator, to approve deals that could have a broader public benefit even if such deals reduce competition. Dalziel also told reporters that there were concerns within the New Zealand business community that businesses could not achieve significant scale to compete globally. The announcement was welcomed by economists and competition lawyers within the country.