Proposed Scope of the Review of Authorisation and Clearance Provisions
31. The attached terms of reference (Appendix 2) provides further detail on the matters that are proposed for consideration as part of the Review of Authorisation and Clearance Provisions.
32. It is generally accepted that New Zealand's clearance and authorisation processes are of a high standard. The Review will draw on the experiences of regulators and practitioners to further improve the effectiveness and efficiency of the authorisation and clearance processes.
33. Importantly, the Review will only consider improvements to processes and procedures under Part 5. This means it will not include consideration of the thresholds in Part 2 and 3, which set the line in the sand beyond which a firm should apply for authorisation or clearance. However, it does include consideration of the way the Commission analyses benefits and costs under Part 5. For example, it does include the way the Commission accounts for efficiency improvements when it calculates the benefits of a restrictive trade practice.
34. The Part 2 and 3 thresholds for business acquisitions and restrictive trade practices were substantively amended in 2001. The thresholds are new, and are consistent with those in Australia. It is desirable that the Review of regulatory control provisions and authorisation and clearance processes - where there is more impetus for change - be undertaken in a timely manner.
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