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.

Contact Us

To book a no obligation appointment with our accountant please call (03) 6344 3899 or send us a message online.

General Advice Warning

Information provided in this article is general in nature only and does not constitute personal advice. The information has been prepared without taking into account your personal objectives or needs. Before acting on any information in this article you should consider the appropriateness of the information having regard to your objectives and needs.

%d bloggers like this: