Cartel criminalisation – back from oblivion

Legislation to criminalise cartel conduct has been brought back from the dead as new Commerce Minister Kris Faafoi stamps his mark on the portfolio.

The law change was originally provided for in the Commerce (Cartels and Other Matters) Amendment Bill introduced by former Minister Simon Power in 2011. That Bill, however, never had high priority and only passed in August last year – and then only after the Minister at the time, Paul Goldsmith, had quietly removed the criminal offence provision in December 2015.

But now it's back, with just minor tweaks.

Key provisions

If passed, the new law would make those guilty of intentional cartel conduct liable for up to seven years in prison and/or a $500,000 fine (which is the current ceiling on an individual's civil liability for cartel behaviour).