The Bell Gully Regulator Report lists recent changes, decisions and developments at the main New Zealand corporate, commercial and competition regulatory bodies and also lists relevant updates from the Australian Competition and Consumer Commission. This edition of the Regulator Report covers the period from 30 July 2008 to 2 September 2008. For further details on any matter in this report, just click on the hyperlinks in each item.

Ministry of Economic Development (MED)

'No slow down' on Financial Adviser Rules
Commerce Minister Lianne Dalziel has announced that framework regulation for financial advisers should be passed as soon as possible so that "officials and the Securities Commission can get on with the job of consulting with industry on the nuts and bolts of how the regulation will work in practice".
To view the Minister's full statement click here
For Bell Gully commentary on the Financial Advisers Bill click here

Seven Supplementary Order Papers introduced for the Climate Change (Emissions Trading and Renewable Preference) Bill
Legislation for the Emissions Trading Scheme is now proceeding through Parliament, following successful negotiations between the Government and the minority parties New Zealand First and the Green Party. The Bill is likely to pass next week under urgency subject to further amendments made through five Supplementary Order Papers (No. 231, No. 232, No. 233, No. 238, and No. 239) introduced by the Government, with two further Supplementary Order Papers introduced by minority parties (see below). Provided Supplementary Order Paper No. 233 is passed, the Climate Change (Emissions Trading and Renewable Preference) Bill will be split into the following two bills:

• the Climate Change Response (Emissions Trading) Amendment Bill; and
• the Electricity (Renewable Preference) Amendment Bill.

The Government's remaining Supplementary Order Papers set out a significant number of amendments to the Bill, including amendments to:

• prohibit the use of imported Assigned Amount Units for compliance use under the Emissions Trading Scheme, unless the imported Assigned Amount Units are of a type that falls within the criteria set out in regulations (which have yet to be released). This amendment (subject to the wording of the future regulations) will require all imported Assigned Amount Units to have environmental integrity. However, the threshold requirements to meet in order to determine which Assigned Amount Units are "green" are still to be released, creating significant uncertainty for those future participants seeking to trade early;
• provide for the free allocation of units to fishing vessel operators in the period 2011 to 2013 to subsidise the higher fuel costs faced by this sector as a result of the Emissions Trading Scheme;
• provide for the free allocation of units to pre-1990 forest landowners, or former landowners, including land which is subject to Crown forest licences;
• establish a new allocation plan process, which enables the House of Representatives a limited opportunity to dispute the allocation plan determined for trade-exposed entities, fishing vessel operators, and the agricultural sector;
• establish an innovation fund for the purpose of facilitating deployment of innovative technology that significantly reduces or avoids, or has the potential to significantly reduce or avoid, greenhouse gas emissions from the industrial and stationary energy sectors (including for trade-exposed businesses without direct obligations under the Emissions Trading Scheme);
• establish a one billion dollar household fund for the purpose of reducing non-transport household greenhouse gas emissions through the promotion of household energy efficiency and conservation and household renewable energy technologies; and
• provide for goods and services tax at a rate of zero percent on transactions involving emissions units made on or after 1 January 2009.

Two further Supplementary Order Papers have been introduced by the Act Party and the Maori Party respectively. Rodney Hide has introduced Supplementary Order Paper No. 237 to exclude hydro fluorocarbons (used as a refrigerant in fridges, air-conditioning and in heat pumps) from the Emissions Trading Scheme and Te Ururoa Flavell has introduced Supplementary Order Paper No. 240 to insert a new clause to ensure the Act will be interpreted and administered to give effect to the Treaty of Waitangi.
Click here to read Bell Gully commentary on the Emissions Trading Scheme

Annual Securities Law Update
In the Commerce Minister's address to the 4th Annual Securities Law Update in Wellington on 17 August, Lianne Dalziel clarified details of the legislation arising from the Review of Financial Products and Providers: namely the Financial Advisers Bill, the Financial Service Providers (Registration and Dispute Resolution) Bill and the Reserve Bank Amendment (No3) Bill. In particular, Ms Dalziel discussed the Government's view of the way forward for the Financial Advisers Bill, which has changed considerably since it was first introduced. The Government would like to see the Bill get through before the General Election, despite calls from some to slow down the process now that major changes have been proposed for the Bill.
Click here to read a full transcript of the speech

Possible Franchising Regulatory Framework
On 15 August, the Minister of Commerce released a discussion document, Review of Franchising Regulation in New Zealand, inviting interested parties to comment on whether franchisees are sufficiently protected by current laws and structures, or whether there is something more that the government should be doing in the form of education initiatives or through the introduction of a franchise regulatory framework. To access a copy of the discussion paper visit the MED's website at www.med.govt.nz. Submissions close on 21 November 2008.
For Bell Gully commentary on this discussion document click here

Ministry for the Environment

National policy statement for renewable electricity generation
In August 2008 the Government introduced a proposed National Policy Statement for Renewable Electricity Generation (NPS). The NPS sets out an objective and policies to enable the sustainable management of renewable electricity generation under the Resource Management Act 1991. To access a copy of the NPS and a copy of the Evaluation Report on the NPS visit the Ministry for the Environment's website at www.mfe.govt.nz. The Minster for the Environment has appointed a Board of Inquiry to hear public submissions and provide recommendations to the Minister on the NPS. It is expected that the Board of Inquiry will publicly notify the NPS and call for public submissions shortly.
For Bell Gully commentary on the proposed NPS and other policy initiatives in the electricity sector click here

Securities Commission

Consultation on request for approval of Austraclear NZ's proposed electronic registry interface
The Securities Commission is seeking comments on a request from the Reserve Bank of New Zealand for the approval of a proposed electronic registry interface for the Austraclear New Zealand System as an electronic securities transfer system under section 7 of the Securities Transfer Act 1991. The effect of such an approval is that the registration of securities transferred by an approved electronic transfer system may not be refused on the grounds that the securities have been electronically transferred or that they have not been transferred by other means. Submissions close on Friday 26 September 2008.
Click here for more

Review of Financial Reporting of Issuers: Cycle 7
The Securities Commission has released Cycle 7 of its Financial Reporting Surveillance Programme. The main issues identified in the report are similar to those in previous cycles, in particular, related party disclosures, financial instruments and certain essential disclosures. The Commission also raised matters relating to disclosures of substantial security holder information and directors' interests and share dealings.
Click here to read the press release
Click here to access the report
Click here for Bell Gully's summary of the report

Securities Commission's annual report
The Securities Commission has issued its 2008 Annual Report.
Click here to access the report

July issue of The Bulletin
The Securities Commission has released the July 2008 issue of its quarterly newsletter The Bulletin. Items covered in this issue include:

• New regime for trans-Tasman securities offerings;
• Commission monitors investment adviser disclosure;
• Venture capital schemes exemption notice renewed; and
• NZX continues to perform well as a registered exchange.

Click here to access this issue

Securities Commission update
The chair of the Securities Commission, Jane Diplock AO, presented an update to the market on 21 August highlighting what the Commission has been doing and what it intends to do to strengthen market confidence and foster investment in New Zealand. In addition to noting the improvements in the securities regulatory regime, which came into force earlier this year, and the current reforms underway, Diplock also discussed the Commission's role regarding the recent collapsed finance companies and notes that investigations into collapsed finance companies remain high on the Commission's enforcement priorities. On the international front, Ms Diplock discussed the importance of New Zealand's role in IOSCO and the recent agreement with Australia for the mutual recognition of securities offerings.
Click here for a full transcript of the speech

Corporate Governance and Securities Law
Jane Diplock AO, chair of the Securities Commission, gave a presentation at the New Zealand Governance Centre - Inaugural Conference, held in Auckland on 15-16 August entitled "Corporate Governance and Securities Law". Her speech focused on the following three themes:

• her belief that what we are seeing around the world in corporate governance is conceptual convergence, but with implementation differences;
• that effective benchmarks around the world exist and can be used to measure equivalence in corporate governance between jurisdictions, while respecting those differences; and
• that benchmarking and recognising equivalence in corporate governance frameworks will facilitate mutual recognition of regulation between jurisdictions globally.

Ms Diplock noted that the Securities Commission has seen a number of examples of poor governance through the work it has been doing recently on failed finance companies, these include companies having:

• too few directors;
• no independent directors;
• an ineffective (or no) audit committee;
• independent directors who are inadequately informed or take insufficient interest in the business;
• related party transactions which are inadequately disclosed;
• poor handling of growth or expansion of the businesses; and
• failure to recognise or act on warning signs in a timely manner.

Click here to read the full transcript of the speech

Securities Act Exemption Notices

The following Securities Act Exemption Notices have been published for this period:

Securities Act (Venture Capital Schemes) Exemption Notice 2008 (SR 2008/218)
This notice came into force on 31 July 2008 and expires on 30 September 2012. It replaces the Securities Act (Local Authority and Other Venture Capital Schemes) Exemption Notice 2003. The notice applies to offers of equity and participatory securities made in accordance with venture capital investment schemes administered under an approved code of practice by certain bodies designated by the Securities Commission. This notice exempts the body administering the scheme and the members of the scheme from:

• (subject to conditions) the prospectus and minimum subscription requirements of the Securities Act 1978 (the Act), regulations 17 of the Securities Regulations 1983 (the Regulations), and, in the case of offers of participatory securities, from the participation deed and statutory supervisor requirements of the Act;
• the authorised advertisement requirements of the Act, regulation 17 of the Regulations, and the participation deed and statutory supervisor requirements of the Act in respect of the distribution of certain documents that seek preliminary indications of interest by members of the public in subscribing for those securities; and
• (subject to a condition) the participation deed, statutory supervisor, prospectus, minimum subscription, and investment statement requirements of the Act and the Regulations in respect of the offer and allotment of securities to eligible persons.

The criteria the Securities Commission will use to consider future applications for designation as scheme administrators, together with the code of practice, are to be published on the Securities Commission's website.

Securities Act (Global Investment Services Limited and Global Guardian Management Limited) Exemption Amendment Notice 2008
This notice extends the expiry date for the Securities Act (Global Investment Services Limited and Global Guardian Management Limited) Exemption Notice 2003 until the close of 31 July 2013. The principal notice exempts Global Investment Services Limited and Global Guardian Management Limited, subject to conditions, from section 54 of the Securities Act 1978 in respect of offers of units in certain Australian unit trusts to the public in New Zealand.

Financial Reporting ACT Exemption Notice

Under section 35A of the Financial Reporting Act 1993, the Securities Commission has issued the following Financial Reporting Act Exemption Notice:

Financial Reporting Act (Australian Scholarships Group Friendly Society Limited) Exemption Notice 2008
This notice, which comes into force on 8 August and expires on 31 January 2014, exempts the directors of Australian Scholarships Group Friendly Society Limited (a company incorporated in Australia) from the requirement to include, in its annual financial statements, statements of cash flows in respect of benefit funds that have not been, and are not, offered in New Zealand.

Takeovers Panel

Takeovers Panel recommends law changes for schemes and amalgamations
The Takeovers Panel has made recommendations to the Minister of Commerce for changes to the Companies Act 1993 and the Takeovers Act 1993. The changes relate to amalgamations and schemes of arrangement under the Companies Act that involve changes of control of companies that fall under the Takeovers Code. The Panel's recommendations to the Minister are available on the Panel's website along with the regulatory impact statement that was prepared for the Minister. An Explanatory Memorandum is available on the Panel's website which includes a full explanation of the Panel's proposal and the consultation process that was undertaken.
Click here to read the Takeovers Panel's full press release
Click here to read Bell Gully's commentary on the Panel's recommendations

Panel seeks comment on draft Guidance Note in relation to expenses recoverable by a target company
On 13 August, the Takeovers Panel released a draft Guidance Note on the scope of expenses recoverable by a target company from the bidder under rule 49(2) of the Takeovers Code and invited submissions from market participants. Submissions close on 5 September 2008. After the Panel has considered all comments it intends to publish the finalised Guidance Note on its website and in its newsletter Code Word.
Click here to access the draft Guidance Note

Takeovers Code Exemption Notices

The following Takeovers Code Exemption Notices have been published for this period:

Takeovers Code (Silver Fern Farms Limited) Exemption Notice 2008
This notice relates to the proposal for PGG Wrightson Limited (PGW) to be allotted a certain number of a new class of voting security in Silver Fern Farms Limited (SFF) which would result in PGW acquiring 50 percent of the voting control in SFF. A special meeting of shareholders is to be held on or about 8 September 2008 to obtain shareholder approval of that allotment. However, notice of the proposed special meeting cannot contain the percentage disclosures required by rule 16(b) of the Takeovers Code because the exact percentage of voting securities in SFF that the number of voting securities being allotted to PGW represents would be known only after the allotment has been completed given the nature of the existing two classes of issued voting security in SFF. The Takeovers Panel has granted exemptions to PGW from rule 7(d) of the Code in respect of the requirements for a notice of meeting under rule 16(b) of the Code; and an exemption to SFF from rule 16(b) of the Code. The notice applies to acts or omissions occurring on or after 11 August 2008 and expires on 31 December 2008.

Takeovers Code (Mascot Finance Limited) Exemption Notice 2008
The Takeovers Panel has granted to certain specified persons a retrospective exemption from rule 6(1) of the Takeovers Code in respect of any increase in those particular persons' voting controls in Mascot Finance Limited (Mascot) as a result of certain specified historical transactions. The Panel has also granted to the current Mascot ordinary shareholders an exemption from rule 6(1) of the Code (subject to specified conditions) regarding any increase to any one of those persons' voting controls in Mascot as a result of any future acquisition by Mascot of its own voting securities, or any future acquisition by the person of voting rights held or controlled by any other current Mascot ordinary shareholder. This notice (apart from clauses 7 and 8) applies to acts or omissions occurring on or after 30 September 2002. Clauses 7 and 8 apply to acts or omissions occurring on or after 14 August 2008. The notice expires on 1 July 2011.

Takeovers Code (Dairy Trust Limited) Exemption Notice 2008
Dairy Trust Limited (Dairy Trust) has entered into:

• a subscription agreement with Olam International Limited (Olam) under which Olam has agreed to subscribe for Dairy Trust shares; and
• a pre-bid agreement with Olam under which Dairy Trust has agreed to make a full, cash takeover offer for all of the shares in Open Country Cheese Company Limited (the offer) that it does not own, and Olam has agreed to accept the offer for all of the shares that it holds in Open Country Cheese.

In addition, Olam has entered into a share sale agreement with Dairy Investment Fund Limited under which Olam has agreed to acquire, and Dairy Investment Fund has agreed to sell, voting securities in Dairy Trust. The Takeovers Panel has granted (in respect of the requirements for a notice of meeting to approve the allotment of securities to Olam and the share sale agreement) exemptions to Olam from rule 7(c) of the Takeovers Code; and to Dairy Trust from rule 15(b) of the Code, because it is impossible for the actual numbers of voting securities to be acquired by Olam and the relevant percentages required by rule 15(b) to be stated in the notice of meeting, since these numbers and percentages are dependent on the operation of a scaling regime under the share sale agreement. The Panel has also granted an exemption to Olam from rule 35 of the Code to enable Olam to accept the offer. This notice applies to acts or omissions occurring on or after 20 August 2008 and expires on 31 August 2010.

Takeovers Code (Mr Chips Holdings Limited) Exemption Notice 2008
Simplot Mr Chips Limited has given notice of its intention to make a full offer for all of the equity securities of Mr Chips Holdings Limited (Mr Chips). It is proposed that certain significant shareholders in Mr Chips will be allotted shares in Simplot Mr Chips Limited and these significant shareholders have entered into a shareholders' agreement with each other and Simplot Mr Chips Limited. These shareholders are acting jointly or in concert with Simplot Mr Chips Limited for the purposes of making the offer. The Takeovers Panel has granted an exemption from rule 35 of the Code to enable each of those significant shareholders to accept the offer. This notice applies to acts or omissions occurring on or after 31 July 2008 and expires on 31 December 2008.

Takeovers Code (Infratil Limited) Exemption Notice 2008
The Takeovers Panel has granted exemptions for Infratil Limited (Infratil) and certain associated shareholders of Infratil from rule 6(1), rule 7(d) and rule 16(b) of the Takeovers Code in relation to an acquisition by Infratil of its own voting securities and as a result of the exercise of certain Infratil Limited warrants held by the associated shareholders which would result in an increase in the percentage of voting rights that the associated shareholders held in Infratil. This notice applies to acts or omissions occurring on or after 13 July 2008 and expires on 31 August 2010.

Takeovers Code (A2 Corporation Limited) Exemption Notice 2008
A2 Corporation Limited (A2) proposes to make a renounceable pro rata 3 for 4 rights issue to its existing shareholders. It is proposed that the issue of shares will be underwritten by Mountain Road Investments Limited (Mountain Road), which currently holds approximately 54 percent of the voting rights in A2. It is likely that the percentage of voting rights in A2 held by Mountain Road will increase through underwriting the issue. A2 intends to obtain shareholder approval, in accordance with the Code, for the potential allotment of shares to Mountain Road. However, A2 cannot comply with rule 16(b) of the Code before completion of the issue. The Takeovers Panel has granted exemptions to:

• Mountain Road from rule 7(d) of the Takeovers Code in respect of the requirements for the notice of meeting under rule 16(b); and
• A2 Corporation Limited (A2) from rule 16(b) of the Code.

This notice applies to acts and omissions occurring on or after 4 July 2008 and expires on 31 December 2008.

The New Zealand Exchange (NZX)

NZX Discipline Rule Review Exposure Draft
NZX Regulation has released its exposure draft of the proposed NZX Discipline Rule review amendments. This exposure draft follows the release of a Consultation Paper in June and consideration of the submissions made on that Consultation Paper. Click here to access the exposure draft and a copy of the proposed Rules, incorporating the changes. NZX is accepting submissions on the exposure draft until 26 September 2008 and proposes to submit the amended rules to the Minister of Commerce in October. NZX will notify the expected commencement date of the rule changes in due course but, given the statutory process, the commencement date will be at least 40 working days after the amendments have been submitted to the Minister (which is likely to be early December 2008).

New Zealand Commerce Commission (NZCC)

Speeches

International Cartel Enforcement: New Zealand's Role
On 15 August, Denese Bates QC, Commissioner of the NZCC, gave a speech to the New Zealand Bar Association. In her speech she addressed the ways in which the NZCC seeks out and utilises opportunities to interact with its overseas counterparts to assist their cartel enforcement and to make the NZCC's cartel enforcement more effective.
Click here for more

Broadband the Highway to the Future: Panel Discussion
On 14 August, Dr Ross Patterson, Telecommunications minister of the NZCC, gave a speech at the NZCID Building Nations Symposium. In his speech, Dr Patterson discussed the future of broadband in New Zealand and the ways in which investment in broadband can be incentivised.
Click here for more

Media releases

The NZCC has issued the following media releases:

Industry Regulation and Regulatory Control

• Dairy Industry Restructuring Act: Commission decides to determine dispute between Kaimai Cheese and Fonterra
  The NZCC has decided to determine a dispute between Kaimai Cheese Company Limited and Fonterra Co-operative Group Limited about the interpretation and application of regulation 4(1) of the Dairy Industry Restructuring (Raw Milk) Regulations 2001.
  Click here for more

• Electricity Industry Reform Act: Commission grants exemption to Stephen Reindler
  The NZCC has granted Stephen Reindler an exemption under the Electricity Industry Reform Act 1998 (the EIR Act) in relation to his proposed appointment to the board of Meridian Energy Limited.
  Click here for more

Mergers and Acquisitions

• NZCC welcomes Warehouse decision
  The NZCC has welcomed the decision by the Court of Appeal overturning the High Court decision which granted clearance to Woolworths and to Foodtsuffs to acquire the Warehouse (Woolworths has sought leave to appeal the decision to the Supreme Court).
  Click here for more

• CSR Building Products cleared to acquire assets of Ross Roofing
  The NZCC has granted clearance to CSR Building Products to acquire the Ross Roofing, Rosscrete Roofing Tiles and the Ross Brick & Pavers businesses of the Ross group of companies.
  Click here for more

Telecommunications

• Commerce Commission releases draft report on numbering management
  The NZCC has released its draft report for the study into telecommunications numbering. Numbering refers to the use of telephone numbers in the supply of telecommunications services.
  Click here for more

• Commerce Commission releases June quarterly report on telecommunications markets
  The NZCC has released its June quarterly monitoring report containing key statistics about telecommunications markets in New Zealand.
  Click here for more

• Commerce Commission releases issues paper on mobile termination
  The NZCC has released an issues paper on mobile termination. The Commission is currently considering whether there are reasonable grounds to launch a Schedule 3 investigation under the Telecommunications Act.
  Click here for more

Consumer Issues

• Court of Appeal confirms decision to control Powerco and Vector's gas pipeline services
  The Court of Appeal has declined an appeal by Powerco Limited to the NZCC's 2004 recommendation to control gas pipeline services supplied by Powerco Limited and Vector Limited.
  Click here for more

• Auckland International Airport drops single duty free concessionaire plans
  Auckland International Airport Limited has entered into an undertaking with the NZCC to drop plans to reduce the number of duty free retailers from two to one.
  Click here for more

Australian Competition and Consumer Commission (ACCC)

ACCC media releases

The ACCC has issued the following media releases:

Mergers and Acquisitions

• ACCC not to oppose Medibank proposed acquisition of Australian Health Management Group
  The ACCC will not intervene in the proposed acquisition of Australian Health Management Group Limited by Medibank Private Limited.
  Click here for more

• ACCC not to oppose Westpac Banking Corporation's proposed acquisition of St George Bank Limited
  The ACCC has concluded that the proposed acquisition of St George by Westpac is unlikely to substantially lessen competition under section 50 of the Trade Practices Act 1974 in the markets in which they compete.
  Click here for more

• ACCC calls for comment on BHP Billiton's proposed acquisition of Rio Tinto
  The ACCC has issued a Statement of Issues on the proposed acquisition of Rio Tinto Ltd and Rio Tinto plc by BHP Billiton Ltd.
  Click here for more

• ACCC takes tougher line on merger undertakings
  The ACCC has been forced to take a tougher stance on accepting undertakings during mergers following examples of businesses acting in bad faith.
  Click here for more

• ACCC to conduct market inquiries on undertakings relating to BG's proposed acquisition of Origin
  The ACCC will conduct market inquiries on undertakings that have been offered by BG Group plc to address competition concerns arising from BG's proposed acquisition of Origin Energy Limited.
  Click here for more

Market Behaviour

• ACCC issues final decision on Australia Post's proposed price increases
  The ACCC has issued its final decision not to object to Australia Post's proposal to increase the price of the basic postage rate from 50 cents to 55 cents.
  Click here for more

• ACCC issues final decision on plastic bag charge trial
  The ACCC has issued its final decision to grant authorisation to the Australian National Retailers Association to conduct a four-week trial of a ten cent charge for lightweight plastic shopping bags.
  Click here for more

• A bundle of trouble: Baxter breaches Trade Practices Act
  The Full Federal Court has issued orders declaring that Baxter Healthcare Pty Ltd had breached the misuse of market power and the exclusive dealing provisions of the Trade Practices Act 1974 when it entered long term contracts with state purchasing authorities.
  Click here for more

• ACCC grants authorisation to central Queensland regional councils
  The ACCC has issued a determination granting authorisation to the Rockhampton, Gladstone, Central Highlands and Isaac Regional Councils to allow them to conduct a joint tender for provision of waste, recyclables and ancillary waste services.
  Click here for more

• ACCC grants authorisation to AMA NSW
  The ACCC has issued a determination granting authorisation to a collective bargaining arrangement put forward by the Australian Medical Association (NSW).
  Click here for more

• ACCC proposes to grant authorisation to Myer
  The ACCC has issued a draft determination proposing to grant authorisation to Myer to enable it to continue to invite concession businesses operating within Myer Stores to participate in its various promotions.
  Click here for more

• ACCC grants authorisation to IATA tariff coordination system
  The ACCC has issued a determination granting authorisation to the International Air Transport Association for its new passenger tariff coordination system. The ACCC also extended authorisation to the current system to allow a transition period.
  Click here for more

• Oobi Baby penalised $40,000 for resale price maintenance
  The Federal Court has ordered Oobi Baby Pty Ltd to pay $40,000 in penalties after the company admitted illegally inflating the internet retail prices of infant toy and clothing products it designs, imports and distributes to retailers throughout Australia.
  Click here for more

Telecommunications

• ACCC grants Telstra local carriage service and wholesale line rental exemptions
  The ACCC has decided to grant Telstra exemptions from its obligations to supply two "declared" services in parts of metropolitan Australia, subject to a number of conditions.
  Click here for more

Consumer issues

• Court finds Aboriginal art dealer misled public
  Following legal action by the ACCC, the Federal Court has declared that the operators of Doongal Aboriginal Art and Artefacts had engaged in misleading and deceptive conduct in contravention of the Trade Practices Act 1974.
  Click here for more

• Court declares Australian Co-operative Foods falsely labelled cheese products
  The ACCC has obtained orders by consent in the Federal Court in Melbourne against Australian Co-operative Foods Limited in relation to engaging in misleading and deceptive conduct and making false representations on the packaging of certain cheese products.
  Click here for more

• Court declares false claims made in promotion of solarium use
  The ACCC has succeeded in its important public interest action against those involved in making false claims about, and misrepresenting the risks associated with, solarium use in contravention of the Trade Practices Act 1974.
  Click here for more

• Former jewellery chain operator convicted for false jewellery prices
  Ascot Four Pty Ltd, the previous owner of the jewellery retailer Zamel's, has been convicted in the Federal Court, Adelaide, of making false and misleading representations about the price of goods.
  Click here for more

• WA retailer supplies non-compliant bunk beds
  The ACCC has accepted court enforceable undertakings from Living Momentum Pty Ltd, which sold non-compliant bunk beds.
  Click here for more

• Ezibuy Ltd takes corrective action for inaccurate fabric descriptions and labelling
  EziBuy Ltd has offered refunds to purchasers of its 'Mohair Throws' and 'Pashmina Shawls' after acknowledging its fabric labelling and advertising may have been misleading and deceptive.
  Click here for more

• Supplier of bunk beds guilty of contempt
  Following action by the ACCC, the Federal Court has declared that Hercules Iron Pty Ltd and its director, Mr Tom Hatz were guilty of contempt by failing to comply with court orders prohibiting supply of bunk beds that did not meet the mandatory product safety standard.
  Click here for more

• ACCC institutes proceedings against SeNevens International ltd
  The ACCC has instituted legal proceedings in the Federal Court, Hobart against SeNevens International Ltd.
  Click here for more

• ACCC alleges misleading & deceptive conduct by TMG Asia Pacific Pty Ltd in advertising mobile premium services
  The ACCC has instituted proceedings in the Federal Court against TMG Asia Pacific Pty Ltd for alleged false, misleading and deceptive conduct in contravention of the Trade Practices Act 1974.
  Click here for more