Aussie, NZ eye tighter protection laws
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The Australian and New Zealand governments have taken another step towards achieving their long-term goal of creating a single economic market, Australian treasurer Peter Costello said. He said this time the focus was on competition and consumer protection law with the two countries agreeing to set up a study to look at the potential for greater co-operation and integration of their competition and consumer protection regimes. Costello said the study would look at core restrictive trade practices and consumer protection provisions of Australia’s Trade Practices Act 1974, New Zealand’s Commerce Act 1986 and fair Trading Act 1986 and associated institutions in both nations. “This is a forward-looking research study to inform both governments on possible future arrangements to better align our respective legislation and practices to remove barriers to trans-Tasman business,” Costello said in a statement. “All options are on the table, including having common laws and a single trans-Tasman enforcement agency.” |