The government’s move to legislate significant amendments to competition laws in a bid to deter anti-competitive conduct has been called a huge win, for small businesses in particular. The amendment will help address anti-competitive conduct and protect the competition process rather than the interests of individual players in the market.
In mid-August the Competition and Consumer Amendment (Misuse of Market Power) Bill 2017 was passed to implement a key recommendation of the Harper Competition Policy Review to strengthen Section 46 of the Competition and Consumer Act 2010. The 2015 Harper Review had found that the misuse of market power law was not reliably enforceable and did not effectively target and deter anti-competitive conduct.
The reformed Section 46 will prohibit a corporation from engaging in conduct with the purpose, effect or likely effect of substantially lessening competition in a market in which it directly or indirectly participates.
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