The Commerce (Cartels and Other Matters) Amendment Bill has finally passed following its introduction in 2011. It received royal assent on 14 August 2017.
The amendments are designed to benefit businesses and consumers by providing greater certainty for firms to collaborate and compete.
Many of the amendments introduced by the Bill come into force immediately. However, there is a nine month transition period to allow businesses time to check that existing arrangements do not breach the new cartel prohibition. The changes will be will be enforced by the Commerce Commission.