Sadly the law also when discussing said format shifting can not be for anything other NZ content as the government doesn't really have the right to dictate what is ok for people / content owners not based here. This is why some people still get infringment warnings for downloading copyright material.
What i did see is that the 4 big record labels are up on price fixing charges for online downloads the arguing point is that they all share info on what the other charges yet (which results in all basically agreeing similar pricing (generally 70cents + per song) whereas the 2nd biggest online music retailer which none of these companies will deal with only charges 25cents approx.
They just don't want to change the huge profit margins they have and as a result piracy is rife and slowly destroying (or so some say) the music industry. (personally i think they need to wake up and smell the coffee and get realistic with their pricing models to help combat piracy this way.
What i say has to be right if people in nz believe p0rn is 3x more acceptable than downloading copyrighted material.