Competition and Consumer Act 2010

A registered non‑conference ocean carrier with substantial market power may, at any time, offer to give an undertaking to do, or not to do, a specified act or thing.

The offer must be:

in the appropriate prescribed form; and

made to the Minister in accordance with the regulations.

If the Minister accepts the offer, the Minister may do one or more of the following:

revoke any reference made to the Commission under section 10.57 in relation to the ocean carrier;

direct the Commission, in writing, to cease holding any investigation being held by it under section 10.58 in relation to the ocean carrier;

revoke any order made under subsection 10.54(1) in relation to the ocean carrier.

If the Minister accepts the offer, the ocean carrier shall be taken to have given the undertaking, and the Registrar shall immediately register the undertaking by entering particulars of it in the register of non‑conference ocean carriers with substantial market power.

If the Minister revokes an order made under subsection 10.54(1), the Registrar shall immediately include in the register a notation to the effect that the order has been revoked.