The Commerce Commission is a New Zealand government agency charged with enforcing legislation that promotes competition in the country's markets and prohibits misleading and deceptive conduct by traders. It is an independent, quasi-judicial body, established under the Commerce Act 1986. The purpose of the Act is to promote competition in New Zealand's market economy. It prohibits conducts that restricts competition (restrictive trade practices) and the purchase of a business's shares or assets if that purchase leads to a substantial lessening of competition in the market.
Read more about Commerce Commission: Introduction, Cartel Leniency Policy, Regulated Industries, Commission Members
Famous quotes containing the words commerce and/or commission:
“The lessons taught in great books are misleading. The commerce in life is rarely so simple and never so just.”
—Anita Brookner (b. 1938)
“It is impossible to calculate the moral mischief, if I may so express it, that mental lying has produced in society. When a man has so far corrupted and prostituted the chastity of his mind as to subscribe his professional belief to things he does not believe he has prepared himself for the commission of every other crime.”
—Thomas Paine (1737–1809)