Commission to hold briefings on Commerce Act

11:47 am on 22 October 2012

The Commerce Commission says billions of dollars are at stake in the Christchurch rebuild and it will meet key groups to ensure competition law is respected.

Chair Mark Berry says there is considerable potential for fraud as money begins to flow and it aims to educate organisations on how the Commerce Act applies to them.

The sorts of practices the commission hopes to head off include inflated invoicing, bid rigging, and price fixing.

Dr Berry says the commission will meet people who have a key role in procurement functions and activities for the rebuild over the next few months.

Groups included in the meetings will be insurance companies, the Insurance Council, the Earthquake Commission, associations for loss adjusters and quantity surveyors, Christchurch City Council and the Canterbury Earthquake Recovery Authority.