{"id":252929,"date":"2021-08-19T16:30:30","date_gmt":"2021-08-19T11:00:30","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=252929"},"modified":"2021-08-19T16:22:05","modified_gmt":"2021-08-19T10:52:05","slug":"new-zealand-fair-trading-amendment-bill-receives-royal-assent","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/19\/new-zealand-fair-trading-amendment-bill-receives-royal-assent\/","title":{"rendered":"New Zealand | Fair Trading Amendment Bill receives Royal Assent"},"content":{"rendered":"<div id=\"lex-article-body\" class=\"article-body clippable-element text-clippable image-clippable\" data-integrity-check=\"A919EAD4FEE08154D5161F0FE696952F\" data-content-slug=\"2f8abda2-e6f4-413d-9ad7-1f85a861ef61\" data-friendly-name=\"Fair Trading Amendment Bill receives Royal Assent - some changes in effect immediately\" data-firm-ref=\"16939\" data-content-type=\"Article\" data-workareas=\"7,36\" data-jurisdictions=\"127\">\n<p style=\"text-align: justify;\">On August 16, 2021, the Fair Trading Amendment Bill has received the Royal Assent. The Fair Trading Amendment Act 2021 introduces significant changes to the Fair Trading Act 1986.<\/p>\n<p>&nbsp;<\/p>\n<h3 style=\"text-align: justify;\"><span style=\"color: #800000;\">Key highlights:<\/span><\/h3>\n<ul style=\"text-align: justify;\">\n<li style=\"text-align: justify;\">Clause 6 of the Act inserts a new provisions relating to unfair conduct.<\/li>\n<li style=\"text-align: justify;\">New Provision prohibits conduct in trade that is unconscionable.<\/li>\n<li style=\"text-align: justify;\">Provision outlines the factors that a court may have regard to when assessing whether conduct is unconscionable including (but not limited to):\n<ul class=\"\">\n<li>relative bargaining power<\/li>\n<li>the extent to which the trader and an affected person acted in good faith<\/li>\n<li>whether unfair pressure or undue influence was used<\/li>\n<li>whether an affected person was able to understand documents provided by the trader.<\/li>\n<\/ul>\n<p>Where a contract is entered into between a trader and an affected person, the court may also consider (among other things):<\/p>\n<ul class=\"\">\n<li>any inducement to enter into the contract<\/li>\n<li>whether the affected person obtained legal advice or other professional advice<\/li>\n<li>the terms of the contract<\/li>\n<li>whether the terms of the contract allow the affected person to reasonably meet their obligations<\/li>\n<li>the length of time the affected person has to remedy any breach.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li>Clause 7 extends the prohibition to a newly defined \u201csmall trade contract\u201d \u2013 a contract between parties in trade that does not form part of a trading relationship that exceeds an annual value of $250,000 for goods or services, or interest in land, when the contract is first entered into.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">For more details, refer <a href=\"https:\/\/www.parliament.nz\/en\/pb\/bills-and-laws\/bills-proposed-laws\/document\/BILL_93552\/fair-trading-amendment-bill\">HERE<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>On August 16, 2021, the Fair Trading Amendment Bill has received the Royal Assent. The Fair Trading Amendment Act 2021 introduces significant <\/p>\n","protected":false},"author":8808,"featured_media":252930,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[],"class_list":["post-252929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign","category-legislationupdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>New Zealand | Fair Trading Amendment Bill receives Royal Assent | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/19\/new-zealand-fair-trading-amendment-bill-receives-royal-assent\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New Zealand | Fair Trading Amendment Bill receives Royal Assent\" \/>\n<meta property=\"og:description\" content=\"On August 16, 2021, the Fair Trading Amendment Bill has received the Royal Assent. The Fair Trading Amendment Act 2021 introduces significant\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2021\/08\/19\/new-zealand-fair-trading-amendment-bill-receives-royal-assent\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-19T11:00:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/08\/Fair-Trading-Bill.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Bhumika Indulia\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" 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Explainer","author":"Bhumika Indulia","date":"September 28, 2020","format":false,"excerpt":"The Essential Commodities (Amendment) Bill, 2020 received Presidential Assent on 26-09-2020. The Essential Commodities (Amendment) Act,\u00a0 2020 Which Act will this bill amend? The Essential Commodities Act, 1955. Which Sections will the said Bill amend? Section 3 talks about the Powers to control production, supply, distribution, etc., of essential commodities\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":246245,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/03\/28\/government-of-national-capital-territory-of-delhi-amendment-act-2021-receives-presidents-assent\/","url_meta":{"origin":252929,"position":1},"title":"Government of National Capital Territory of Delhi (Amendment) Act, 2021 receives President&#8217;s assent","author":"Bhumika Indulia","date":"March 28, 2021","format":false,"excerpt":"On March 28, 2021, the Government of National Capital Territory of Delhi (Amendment) Act, 2021 received President's assent in order to amend the Government of National Capital Territory of Delhi Act, 1991. The Amendment Act modifies the following: In section 21 of the principal Act, the expression \"Government\" has been\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":236324,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/26\/presidential-assent-salary-allowances-and-pension-of-members-of-parliament-amendment-bill-2020-bill-to-cut-salaries-of-mps-by-30\/","url_meta":{"origin":252929,"position":2},"title":"[Presidential Assent] Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020: Bill to cut salaries of MPs by 30%","author":"Bhumika Indulia","date":"September 26, 2020","format":false,"excerpt":"The Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020 received Presidential Assent on 24-09-2020. Salary, Allowances and Pension of Members of Parliament (Amendment) Bill, 2020 Which Act will the said Bill amend? A Bill further to amend the Salary, Allowances and Pension of Members of Parliament Act,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":217923,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/08\/12\/parliament-received-assent-of-the-president-for-supreme-court-number-of-judges-amendment-act-2019\/","url_meta":{"origin":252929,"position":3},"title":"Parliament received assent of the President for &#8211;Supreme Court (Number of Judges) Amendment Bill, 2019","author":"Bhumika Indulia","date":"August 12, 2019","format":false,"excerpt":"The following Act of Parliament received the assent of the President on the 9th August, 2019. The Supreme Court (Number of Judges) Amendment Act, 2019. An Act further to amend the Supreme Court (Number of Judges) Act,1956. BE it enacted by Parliament in the Seventieth Year of the Republic of\u2026","rel":"","context":"In &quot;Foreign Legislation&quot;","block_context":{"text":"Foreign Legislation","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/foreign\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":223265,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/16\/arms-amendment-act-2019-receives-presidents-assent\/","url_meta":{"origin":252929,"position":4},"title":"Arms (Amendment) Act, 2019, receives President&#8217;s assent","author":"Bhumika Indulia","date":"December 16, 2019","format":false,"excerpt":"The President of India granted assent to the Arms (Amendment) Act, 2019 on 13-12-2019. The Bill seeks\u00a0to enhance the punishment for existing offences like illegal manufacture, sale, transfer, etc.; illegal acquiring, possessing or carrying prohibited arms or prohibited ammunition; and illegal manufacture, sale, transfer, conversion, import, export, etc., of firearms.\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":246795,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/04\/13\/budget-session-18-bills-passed-by-parliament\/","url_meta":{"origin":252929,"position":5},"title":"Budget Session | 18 Bills passed by Parliament","author":"Bhumika Indulia","date":"April 13, 2021","format":false,"excerpt":"The Budget Session, 2021 of Parliament, which commenced on January 29, 2021, has been adjourned on March 25, 2021. During this Session a total of 20 Bills (17 in Lok Sabha and 03 in Rajya Sabha) were introduced. 18 Bills were passed by Lok Sabha and 19 Bills were passed\u2026","rel":"","context":"In &quot;Hot Off The Press&quot;","block_context":{"text":"Hot Off The Press","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/hot_off_the_press\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/MicrosoftTeams-image-65.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/252929","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=252929"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/252929\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/252930"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=252929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=252929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=252929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}