✨ Commerce Act Regulations
NEW ZEALAND GAZETTE
No. 62
(b) the lines business has demonstrated beyond reasonable doubt, by use of an alternative approach that has equivalent effect to the subclauses concerned, that the substance of those subclauses has been complied with—
but the threshold compliance statement and auditor’s report need not state whether the Commission is satisfied as to the matters referred to in paragraph (a).
(3) Under section 57U of the Act, every lines business is required to supply to the Commission—
(a) a copy of each statement and documents disclosed under subclause (1), within 5 working days after the statement and documents are first so disclosed; and
(b) all further statements, reports, agreements, particulars, and other information requested in writing by the Commission which, if the Commission so requires, must be verified by statutory declaration.
(4) A lines business need not include in a statement under subclause (1) any information that it considers is commercially sensitive if—
(a) it has given the information concerned to the Commission and advised the Commission in writing of the reasons for the exclusion; and
(b) that information is covered by the report required under subclause (1)(b) and the certificate required under subclause (1)(c); and
(c) the Commission has not objected to the exclusion of the information.
(5) An audit report given for the purposes of subclause (1)(b) may be qualified only if—
(a) the auditor considers that the statement concerned—
(i) fails to comply with this clause 7; or
(ii) fails to give a true and fair view of the matters to which it relates (having regard to any information or explanations that may have been provided by the directors of the lines business); and
(b) the audit report explains with full reasons the respects in which the statement so fails.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 62
Gazette.govt.nz —
NZ Gazette 2003, No 62
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Commerce Act (Electricity Lines Thresholds) Notice 2003
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