The Commerce Commission says it has updated its policy and guidelines to assist parties involved in cartel conduct to understand what steps they are required to take when applying for leniency.
"Cartel conduct is hard to detect because it is often conducted in secret. Therefore, the Commission seeks to incentivise those involved in or close to cartel conduct to report behaviour such as bid rigging, price fixing and allocating markets," it says.
The Commission says its leniency programme is a key tool to encourage reporting of cartel conduct. It offers the first party that applies for leniency the opportunity to obtain full immunity from any Commission enforcement action in exchange for full cooperation.
The updated policy and guidelines clarify what the Commission expects from parties involved in cartel conduct who apply for immunity or cooperation concessions, as well as what they can expect from the Commission.