7. PESETA SAM LOTU-IIGA (National—Maungakiekie) Link to this
to the Minister of Commerce
What recent steps has the Government taken to enhance cooperation and coordination between New Zealand and Australian competition regulators?
Hon SIMON POWER (Minister of Commerce) Link to this
Today I can advise that the New Zealand Government and the Australian Government have finalised cross-appointments between the Australian Competition and Consumer Commission and the New Zealand Commerce Commission. Dr Mark Berry, the chair of the New Zealand Commerce Commission, has been appointed to the Australian Competition and Consumer Commission as an associate member, and Dr Jill Walker, a member of the Australian Competition and Consumer Commission, has been appointed to the New Zealand Commerce Commission, also as an associate member. Cross-appointments will improve consistency in the way the two regulators approach similar interests and issues under competition and consumer law.
Peseta Sam Lotu-Iiga Link to this
How does this announcement fit into the single economic market work programme?
This cross-appointment is one of the key regulatory outcomes under the single economic market outcomes framework identified in the joint statement of intent by New Zealand and Australian Prime Ministers. That framework is now reflected in the revised Memorandum of Understanding on Coordination of Business Law, as we continue to deepen the economic relationships between the two countries.
Hon Lianne Dalziel Link to this
Why, if he is committed to enhancing cooperation and coordination between competition regulators, has he introduced a bill that will place completely different obligations on our respective stock exchanges, which appears to breach the very competition principles the Australian Competition and Consumer Commission and the New Zealand Commerce Commission are designed to protect?