Liquidation nation: A governance wake-up call for directors
As liquidations surge, New Zealand directors must understand insolvency risks, duties and options – here’s what they need to know.
Cartel criminalisation now in force
The Commerce (Criminalisation of Cartels) Amendment Act 2019 came into effect 8 April 2021.
The Commerce (Criminalisation of Cartels) Amendment Act 2019 introduced a criminal offence for people engaged in cartel conduct, with effect from April 2021.
This offence is in addition to the existing civil prohibition on cartels and forms part of the Commerce Act 1986. Individuals convicted of the new offence will be liable for up to 7 years imprisonment and/or a fine not exceeding $500,000.
For more on the new offence and what this means for directors see:
- Cartel conduct: The introduction of criminal sanctions (by MinterEllisonRuddWatts)
- Cartel criminalisation and directors (in Boardroom April/May 2020)
- the Commerce Commission’s website for further guidance on anti-competitive behaviour and cartels.
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