Commission agrees to RAL's request for extension of time
Published04 Sep 2000
The Commerce Commission today agreed to a request from Ruapehu Alpine Lifts Limited (RAL) for a two-week extension to the Commission's timetable.
RAL requested more time to make submissions on the Commission's draft determination issued last week. In the draft determination the Commission stated that its preliminary view, based on information then available, was that it would not authorise the proposal.
The Commission is investigating RAL's application for authorisation to acquire Turoa Ski Resort Limited (in receivership).
Revised timetable:
July 31
RAL made its application
August 28
the Commission released its draft determination
by September 25
interested parties to make submissions on the draft determination
by October 2
experts hired by interested parties to make submissions on the draft determination
October 18-20
likely dates for conference in Wellington
November 7
the Commission will make its final decision
Background
The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market.
Parties can apply for an authorisation-in effect an exemption from the Act-of a business acquisition. The Commission will grant an acquisition if it is satisfied that public benefits from a proposed acquisition would outweigh its detriments to competition.
Media contact: Commerce Act Manager Geoff Thorn, Phone work (04) 498 0958
Communications Officer: Vincent Cholewa, Phone work (04) 498 0920