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4 Principles guiding exercise of powers under Act


The Regulator, Minister, and any other person exercising a power under this
Act must be guided by the purpose of this Act and the following principles:
(a) the likely benefits of therapeutic products should outweigh the likely risks

associated with them, and their regulation should be proportionate to those


benefits and risks:
(b) regulation of therapeutic products should support—
(i) the timely availability of those products; and
(ii) open and well-functioning markets for those products; and
(iii) innovation, including opportunities for Māori; and
(iv) choice of, and equity of access to, therapeutic products for Māori and

other population groups:


(c) there should be co-operation with overseas regulators and, if appropriate,

alignment with international standards and practice.

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