Swapping information with competitors has always been fraught
with legal risk – and is about to get riskier in
Australia and, potentially, in New Zealand if our Government
follows Australia's lead.
This Brief Counsel looks at the proposed Australian reforms,
summarises the current position in New Zealand and sets out some
good practice guidelines to help businesses stay on the right side
of the law.
The Australian legislation
The Competition and Consumer Amendment Bill
(the Bill), which is expected to be passed next
year, will initially be confined to the banking sector but may be
extended by regulation to other sectors.
Proposals are to outlaw:
- private disclosures to competitors or potential competitors of
information about prices, rebates, allowances or credits, and
