Two new amendments to Australian competition law have passed Parliament following recommendations from the Harper Competition Policy Review 2015.
The Competition and Consumer Amendment (Competition Policy Review) Bill makes a number of changes to existing competition law. One of the changes includes an amendment to price signalling laws, which previously only applied to banks but which now applies to all corporations that engage in a ‘concerted practice’ that has the purpose, effect or likely effect of substantially lessening competition under section 45 of the Competition and Consumer Act 2010 (Cth).
Additionally, the Competition and Consumer Amendment (Misuse of Market Power) Bill 2017 (Cth) was passed on 23 August 2017 and introduces the ‘purpose or effects test’ which replaces the current ‘purpose’ test. A corporation will breach the misuse of market power provision where it has a substantial degree of market power and it engage in conduct with the ‘purpose, effect or likely effect’ of substantially lessening competition.
If you need advice regarding your compliance with competition and consumer law in Australia, please don’t hesitate to contact me at or call me at 1300 033 934 for a no-obligation quote.