Commercial law rarely stands still — but 2026 has delivered more change, than most lawyers will have seen in years.
Prominent among these changes is the Credit Contracts and Consumer Finance Amendment Act 2026, most of which came into force on 1 July 2026, ushering in one of the most significant regulatory shifts New Zealand’s credit industry has seen in years. Add to that the biggest competition law reform in almost two decades, and the ground is shifting under many of the statutes that commercial lawyers rely on every day.
Gault on Commercial Law has been tracking these developments as they happen and bolstered by three new authors who joined the team late in 2025, has never been better placed to help you make sense of them.
The credit landscape has changed
The headline change is a transfer of regulatory power: the Financial Markets Authority (FMA) has taken over responsibility for the Credit Contracts and Consumer Finance Act (CCCF Act) from the Commerce Commission, becoming the single conduct regulator for financial markets, including consumer credit. The Commerce Commission, meanwhile, retains jurisdiction over the Fair Trading Act 1986 (including the unfair contract terms regime), meaning lawyers now have two regulators, not one, to keep in view.
This is precisely why Gault’s commentary on the Credit Contracts and Consumer Finance Act 2003 has been a priority this year. It has been rewritten from the ground up, mirroring the author’s own recently published Law of Consumer Credit (2nd ed). Initial commentary on the 2026 Amendment Act has already been published in the discursive chapter, with further detailed discursive commentary currently in production — meaning subscribers will have authoritative guidance on the new regime as it beds in, not months after the fact.
“What makes 2026 unusual isn’t any single reform — it is that credit law, competition law and consumer protection are all moving at once. For commercial lawyers, that means it will be very easy to become lost in the transition and reform, meaning the value of clear, current commentary has never been greater.”
“Aotearoa New Zealand should learn from the experiences of the United Kingdom with the transition from the Office of Fair Trading to the Financial Conduct Authority. This move resulted in fundamental amendments and reforms to both the substantive law and to regulatory enforcement, making it crucial for lawyers to be on top of the material.”
Jodi Gardner, Professor of Law and Brian Coote Chair of Private Law, The University of Auckland
Competition law’s biggest shake-up in a generation
If consumer credit lawyers have had a busy year, competition lawyers are not far behind. New Zealand’s competition law is set for its most significant overhaul in years. With the Commerce Act reform bill heading for a 2026 pass marking a genuine shift in how competition risk will need to be assessed and managed.
Gault’s Overview of 2024 Competition Law Review and Proposed 2026 Competition Law Reforms has been updated to keep pace with these fast-moving developments — essential reading for anyone advising on M&A, pricing strategy or competitor collaboration in the months ahead.
The rest of the update: still moving fast
Beyond these two headline reforms, the wider Gault commentary has had a substantial refresh:
- Contract and Commercial Law Act 2017 – Major portions of the commentary have been updated.
- Introduction to Banking Law – A long-envisaged introductory discursive chapter has been added.
- Fair Trading Act 1986 – Both the discursive introduction and the section-by-section annotations have been reviewed, with recent case law added.
- Real Estate Agents Act 2008, Motor Vehicle Sales Act 2003 and Auctioneers Act 2013 – Annotation of key sections has been provided for the first time in each Act, closing long-standing gaps in the commentary.
- Consumer Guarantees Act 1993 – The discursive introduction and section-by-section commentary have been updated.
- Responsible Lending Code (July 2024) and Code of Banking Practice (November 2025) — both kept fully current.
What’s next
The pace of change shows no sign of slowing with three reforms on the horizon:
The Fair Trading Amendment Bill – this is a package of reforms, to be widely consulted on, in the related consumer protection areas of penalties and enforcement, scam disruption and product safety settings.
The Commerce (Promoting Competition and Other Matters) Amendment Bill – this is the first major update of competition rules in nearly 20 years, designed to modernise competition settings and give businesses a clearer understanding of conduct that restricts competition and falls foul of the law.
The Commerce (Commerce Commission Reform) Amendment Bill – aimed at strengthening the Commerce Commission’s governance, decision-making and mandate, with structural changes to bolster its Board and drive organisational change.
With this year’s reforms reshaping so much of the commercial law landscape, there’s never been a better time to have trusted, up-to-date commentary at your fingertips.
For up-to-date commercial law commentary, subscribe to Westlaw New Zealand.
Thanks to Roger Thornton, Senior Legal Editor and the commercial expert author team:
Barry Allan – Research Affiliate and former Associate Professor, Faculty of Law, University of Otago
Jodi Gardner – Professor of Law and Brian Coote Chair of Private Law, Faculty of Law, University of Auckland
Linda Howes – Barrister and Solicitor
Rebecca Rose – Barrister and Arbitrator, Bankside Chambers
Peter Underwood – Senior Lecturer, Faculty of Law, University of Auckland
Daisy Williams – Barrister, Shortland Chambers
Joshua Yuvaraj – Senior Lecturer, Faculty of Law, University of Auckland
