Partnering with clients to provide on-demand contract lawyers, giving in-house legal teams the confidence to be agile.
Competition law plays a central role in regulating business with few areas of economic activity beyond its reach. It governs anti-competitive and unfair market practices, mergers and acquisitions, product liability, natural monopoly regulation and third-party access to facilities of national significance.
Recognised as one of five 'elite' competition practices in Australia (Global Competition Review's GCR 100, 2011, 2012, 2013, 2014, 2015, 2016 and 2017), MinterEllison advises on a significant proportion of Australian and New Zealand merger clearances each year.
Our competition partners are consistently rated among the leaders in their field. As one of the largest competition practices in the Asia-Pacific region, we have the capacity to fully understand the relevance of overseas developments and issues. We advise clients operating in the Asia-Pacific, and Asian regulatory authorities, on cross-jurisdictional regulatory and competition law issues, working seamlessly with Minter Ellison Rudd Watts in New Zealand on trans-Tasman matters.
MinterEllison’s International Trade group provides support across the full range of issues relating to the regulation of imports, exports and foreign investment together with advice on international issues relating to sanctions, anti-bribery and corruption. Our experience ranges from customs issues and anti-dumping through to support with matters arising under the rules of the World Trade Organization (WTO) and Free Trade Agreements (FTAs). This highly-regarded team has been ranked by leading international legal directory Chambers Global as an Australian market leader and described as 'the foremost in the region for advice on international issues and trade policy'.
MinterEllison's experts contributed to the chapter on class actions in Australia to the Practical Law Collective Actions Global Guide.
MinterEllison has made a submission to the Senate inquiry into the Competition & Consumer Amendment (Misuse of Market Power) Bill 2016.
The High Court has today found in favour of the ACCC in its appeal to re-instate a finding by the Federal Court that Flight Centre Travel Group attempted to engage in price fixing. In reaching this decision, the majority of the Court have found that a principal and an agent can compete with each other, but it will depend on the facts and surrounding circumstances in each case.
New laws came into operation that allow small businesses to challenge the validity of unfair terms in standard form business-to-business contracts
The Commonwealth Government has announced a complete overhaul of its student loan scheme for vocational education and training. It has scrapped the 'VET FEE-HELP Scheme' which has been plagued with controversy and intends to replace it with a new scheme named 'VET Student Loans'.
The Treasurer Scott Morrison has today released exposure draft legislation as part of the Government's response to the Final Report of the Competition Policy Review from the panel chaired by Prof Ian Harper.
On 28 July 2016, the Tribunal released reasons for its recent determination to authorise Sea Swift's proposed acquisition of certain shares and assets relating to Toll Marine Logistics' business in the Northern Territory and Far North Queensland.
On 1 July 2016, the Australian Competition Tribunal granted authorisation to Sea Swift's proposed acquisition of certain shares and assets relating to Toll Marine Logistics' (TML) business in the Northern Territory and Far North Queensland
Increased deal activity is likely in Australia's health and aged care sector in 2016, driven by investment interest from China, Australian players targeting outbound opportunities through joint ventures and partnerships and consolidation in the aged and home care services areas.
The Federal Government continues in its implementation of the reforms to Australia's foreign investment regime. The relevant Bills have been introduced into Parliament and a report on them has been handed down by the Senate Economics Committee.
There is momentum behind the recognition of financial risks and opportunities associated with climate change and environmental, social and governance (ESG) factors in over the horizon investment decisions. This is driven not only by ethical shareholder groups but increasingly on the international scene by leading institutions who are proactively engaging with the associated valuation, risk management and disclosure issues. These changes shape debate around the investment of client funds in Australia (where there is no member-direction) and could be the tipping point that mainstream trustees and portfolio managers would be ill-advised to ignore.
The Australian Energy Market Commission (AEMC) has published a draft proposal to change the rules that govern rebidding in the national electricity market. The proposed amendments would replace the existing rule which requires offers, bids and rebids to be made in good faith, with a new rule that prohibits offers, bids and rebids that are false, misleading or likely to mislead; and require rebids to be made as soon as practicable after a generator or market participant becomes aware of the change in material conditions or circumstances that has prompted the rebid.
Two recent appellate decisions of the Full Federal Court have clarified the application of Australian competition law to distribution arrangements between principals and their agents. The decisions of the Full Federal Court in ACCC v ANZ Bank and Flight Centre v ACCC have confirmed that principals and agents will not be viewed as competitors where they are supplying different products.
This article first published in "Hot Topics" in International Antitrust Law (May 2015) discusses how the Federal Court of Australia has dismissed an anti-competitive conduct case against Pfizer (ACCC v Pfizer [2015] FCA 113, 25 February 2015), finding that Pfizer did not breach the Australian legal prohibition on misuse of market power.
The Australian Competition and Consumer Commission alleged in the case that Pfizer misused its market power in breach of section 46 of the Competition and Consumer Act 2010 when it offered significant discounts and rebates on sales of Pfizer's own generic version of atorvastatin direct to pharmacies before Pfizer's blockbuster cholesterol lowering drug, Lipitor came off patent in May 2012.
China's State Council has issued plans for three new Pilot Free Trade Zones in Guangdong, Tianjin and Fujian, and the expansion of its Shanghai Pilot Free Trade Zone. It also updated its foreign investment negative list and announced trial procedures for national security review of foreign investment in all free trade zones. The expansion of China’s free trade zone program is set to advance the country’s financial reform journey and improve its ability to compete with more established rivals in the Asia-Pacific region.
A recent decision has clarified that the Federal Court is unable to receive submissions on an appropriate penalty (or range of penalties) from the Australian Competition and Consumer Commission (ACCC). This represents a significant change to the settlements process under the Competition and Consumer Act 2010 (Cth) (CCA) and, because it affects all current or contemplated negotiations with the ACCC, is likely to have a chilling effect on future settlements.
The Commonwealth Government has released an exposure draft of legislation which, if enacted, would extend the unfair terms regime in the Australian Consumer Law (ACL) to small business contracts.
With the focus of competition regulators worldwide on cartel activity and the range of countries moving to criminal sanctions focus on cartels will not decline in the foreseeable future.
Professor Harper and his panel will surely become known as the 'Wizards of Oz' if all the changes to competition law and policy recommended in the Final Report of the Competition Policy Review are actually made.
The National Development and Reform Commission (NDRC) and the Ministry of Commerce (MOFCOM) released the new Foreign Investment Industries Guidance Catalogue on March 10, 2015 (“2015 Version”) which will supersede the current 2011 Version from April 10, 2015.
The Federal Court of Australia has dismissed the ACCC's anti-competitive conduct case against Pfizer, finding that Pfizer did not breach the prohibition on misuse of market power. Nor did it engage in unlawful exclusive dealing.
Recent publicity surrounding the exclusion or divestiture of stocks in carbon-intensive industries shows that leading investors are reviewing the financial risks (and opportunities) associated with climate change. However, with debate on climate change often pitched around ideological poles, many superannuation fund trustees are struggling to translate these developments into prudent governance practice, consistent with their statutory and general law duties. This article looks beyond the political debate to consider what recent developments on climate change mean for the legal obligations of fund trustees, and the implications for boardroom practice. In doing so, they note that focus on the outcomes of investment (or divestment) decisions may have obscured the key legal issue – that of diligent process.
Partner Paul Schoff and Special Counsel Sarah Barker produced an overview of the sweeping changes to Australian competition laws recommended in Draft Report of Competition Policy Review in the Antitrust Newsletter December 2014. The article summarises the key recommendations in the Draft Report in relation to competition law reform such as cartel laws, price signalling, vertical practices and 'third-line forcing', misuse of market power and merger clearance.
Legal Consultant Russell Miller wrote an insightful article, "Cartels: a first priority for the ACCC" in the Commercial Law Quartlerly September - November 2014 issue. He provides commentary on the case against cartels, the current state of ACCC action, small business and cartel action, the exceptions and defences of a party engaged in cartel conduct, the substantial consequences of cartels and the ACCC immunity policy that can protect the first party to a cartel.
Welcome to our new-look Australian Competitive Edge. This publication features the latest commentary and analysis of competition law and market regulation. We'll continue to provide the information you need to help navigate the implications of the latest law and policy changes.
Is there need for a new competition institution, the Australian Council for Competition Policy, to provide leadership and drive implementation of the evolving competition policy agenda? This issue was debated at the CPR conference.
At the CPR International Conference, distinguished panellists debated issues for the implementation of competition principles in human services – health, education and welfare delivery. They raised concerns around the application of competition principles to human service delivery.
At the Competition Policy Review conference, attendees discussed the CPR panel's recommendation that the regulatory functions of the ACCC be spun off into a new national access and pricing regulator.
In a panel session at the CPR International Conference, partner Paul Schoff discussed the practical workability of the panel's recommendations. This article summarises three of the key areas that were raised.
The Draft Report of the Competition Policy Review released yesterday aims to set the pathway for resuscitating productivity growth in Australia, shining a light on areas of the economy in need of reform. It focuses on what is needed to promote productivity enhancing choice, diversity and innovation and focussing on areas such as health, planning laws, power and road transport.
Regulators around the world remain focused on the impact of cartels on business, and the Australian Competition and Consumer Commission is no exception. It is essential that companies remain vigilant about competition compliance. Recent cases illustrate the importance of combating cartels and the role of effective immunity policies in helping to sustain a competitive business environment.
The People's Bank of China has released the Administrative Measures for the Foreign Exchange Purchase and Sale Business Provided by Banks which will come into force on 1 August 2014. The Measures will clarify the definition of Business and adjust the supervision and management model to provide banks with greater autonomy and a simplified process to market entry and exit.
Last month the Chinese Ministry of Commerce published the Notice of Improvements on Foreign Investment Examination Management, introducing the capital subscription system into the registration of foreign invested enterprises. The Notice is specifically targeted at eliminating the statutory registered capital requirements previously imposed on FIEs.
Competition in the Australian grocery retail industry has been a focus of Australian media, politics, and regulatory activity for several years. This article describes the dynamics of the industry in Australia, details the competition concerns, and outlines how the government and the Australian Competition and Consumer Commission have responded to these concerns
Yesterday the High Court delivered its highly anticipated decision in Williams v Commonwealth of Australia. The court unanimously held that the legislation is invalid in its operation with respect to a funding agreement between the Commonwealth and Scripture Union Queensland for the provision of chaplaincy services in schools.
The Commonwealth Treasury has released a consultation paper proposing to extend to small businesses the same protection from unfair contract terms as have been given to consumers. The rationale for such an extension is that 'small businesses ... are commonly presented with standard form contracts and, like consumers, can lack the time and legal or technical expertise to critically analyse these contracts, and the power to negotiate.' (p1, Consultation Paper).
A recent decision by the High Court of Australia has clarified the rules on misleading or deceptive advertising under the Australian Consumer Law. The case strongly reinforces that selective emphasis and fine print disclaimers - advertising strategies that have been a mainstay to date - are risky.
An Issues Paper has been released as part of the government's competition law and policy review announced by Minister for Small Business, Bruce Billson in December 2013. Panellists have since been appointed and a wide-ranging Terms of Reference released in late March 2014.
In a December 2013 judgment, the Federal Court of Australia found that a major Australian travel agent attempted to enter into price fixing arrangements with several international airlines. These judgments have created uncertainty about the application of Australia's cartel laws where suppliers distribute products through multiple channels. Partner Paul Schoff reports on the recent decision of the Federal Court of Australia.
The Ministry of Commerce issued the Guideline on Overseas Intellectual Property Rights for Enterprises for trial implementation on 8 February 2014. The Guideline aims to encourage Chinese enterprises to proactively protect their rights by providing greater protection for Intellectual Property Rights for overseas investments, and through mechanisms designed to promptly resolve IP disputes.
Legal Consultant Russell Miller AM has written "A Framework for the Competition Policy for the Regional Comprehensive Economic Partnership negotiations" in preparation for the BOAO Forum in Asia.
He provides an insight into world trade, multilateral agreements and FTAs, the objective of Competition Policy, core competition rules, universal application of competition laws, administering rules and the broader perspective of competition policy.
The Federal Government has released the final report of the Productivity Commission's inquiry into the National Access Regime in particular Part IIIA of the Competition and Consumer Act 2010. While there are no changes to the regulatory framework or institutional arrangements, the report does recommend a package of reforms designed to ensure the scope of the Regime is confined to those exceptional circumstances.
Customer testimonials about goods or services have become increasingly common, particularly via social media. In December last year, the ACCC released a guide to handling online reviews and review platforms, providing an insight into it's view on the scope of a business' obligations plus a list of best practice recommendations.
On 28 December 2013, the Standing Committee of the National People's Congress announced the fourth set of amendments to the PRC Company Law, which will take effect on 1 March 2014. The amendments are intended to encourage investment and relax the requirements necessary to establish a company in China.
Two recent judgments of the Federal Court have highlighted the potential for Australian competition law to impact on distribution arrangements between principals and their agents. The more recent judgment, in the ACCC's case against Flight Centre, means that such arrangements may need to be reviewed to ensure they do not fall foul of the prohibitions on price fixing under the Competition and Consumer Act 2010.
In a recent Federal Court decision, Justice Greenwood has found that contracts for the acquisition of flyash from power stations in South East Queensland between 2002 and 2006 contravened the anti-competitive conduct provisions of the then Trade Practices Act 1974 (TPA) (now Competition and Consumer Act 2010).
The new Federal Government proposes to conduct a ‘root and branch’ review of the Competition and Consumer Act 2010 (which replaced the Trade Practices Act from 1 January 2011) to ensure a ‘level playing field’ for big and small business.
A recent decision by the ACCC demonstrates that authorisation requires public benefits to flow from the specific conduct sought to be authorised.
This note places MFN clauses among price relationship agreements and identifies the key competition law issues which need to be considered before they are used.
Recent enforcement activity by the US Federal Energy Regulatory Commission (FERC) has highlighted the risks to electricity market participants who seek to manipulate energy markets for financial gain.
How companies should use social media continues to be a vexed issue for management and boards. Organisations can face serious reputational repercussions if they fail to properly manage online dialogue with customers and other stakeholders, and they may also attract legal liability. In our view, a tailored approach taking into account legal and non-legal areas of risk, the social media landscape in which the company operates, and available resources is a sensible strategy.
The first court decision applying the cartel provisions of the Competition and Consumer Act 2010 has set the bar for establishing per se liability worryingly low. Significantly for M&A practitioners, the case calls into question the traditional risk assessment of 'back to back' or 'partial follow on' transactions from a bid-rigging perspective, including those that occur offshore. With an appeal by Bradken lodged in April, it seems 'at least possible' the Federal Court will revisit the low bar applied to satisfaction of the competition condition in this case - and the outcome will be one to watch.
The Standing Council on Energy and Resources has announced reforms to the regime for limited merits review of decisions affecting prices for electricity networks and gas pipelines under the National Gas Law and National Electricity Law. These reforms will place greater emphasis on the need to prove that varying the regulator's decision will produce an overall outcome that is ‘materially preferable’ in promoting the long term interests of consumers.
The High Court of Australia held that Google was not liable for representations made by advertisers in sponsored links on Google's search results pages. The case concludes a five year court battle between the Australian Competition and Consumer Commission (ACCC) and Google Inc. (Google) over misleading representations displayed in sponsored links on Google's search results pages.
Comprehensive legislative changes to enhance and expand Hong Kong's unfair business practices and consumer protection framework, passed in 2012, will come into effect on 19 July 2013. We provide an overview of these major changes and explain how the new expanded consumer protection regime will operate in Hong Kong.
On 28 April 2013, the State Administration of Foreign Exchange in China together with its local counterparts, issued the Measures for Administration of Foreign Debt and the Operating Guidelines for Administration of Foreign Debt Registration. The Measures and Guidelines are designed to simplify approval processes for and strengthen monitoring of foreign debts in China.
The Singapore International Arbitration Centre (SIAC) has announced a new governance structure and a revised edition of the SIAC Rules of Arbitration, effective from 1 April 2013. Clients should not underestimate the significance of these changes.
With a growing number of Chinese companies pursuing overseas opportunities, China's market watchdog , the PRC Ministry of Commerce (MOFCOM), has issued three administrative provisions/policies that are designed to regulate the behaviour of Chinese entities engaged in outbound investment.
The recent Information Commissioner decision in Dreamsafe Recycling Pty Ltd and Department of Education, Employment and Workplace Relations provides further guidance on what constitutes 'deliberative matter' and public interest factors against disclosure for the purposes of section 47C of the Freedom of Information Act 1982 (Cth).
Recent judgments by the Federal Court of Australia have emphasised that the application of a global compliance policy may not meet the necessary requirements to defend a breach of Australian law. This reinforces the need for multinationals to review universal international programs to ensure they specifically cater for domestic obligations.
In the second part of this Alert, we provide guidance on developing an effective competition compliance program to avoid breaches of the new Hong Kong Competition Ordinance.
In line with the national harmonisation of personal criminal liability for corporate fault, the Directors Liability Legislation Amendment Act 2013 (ACT) recently simplified and consolidated the position on executive liability in the ACT across a range of different legislation. There are now less offences for which an executive officer may be liable, and executive officers will no longer be presumed to be responsible for any offences committed by a corporation under the amended Acts.
This week the Australian Government released its hotly anticipated package of reforms in response to the Convergence Review and the Independent Inquiry into the Media and Media Regulation ('the Finklestein Inquiry'). The proposed changes will 'bolt on' additional regulation to the already complex media landscape and principally affect traditional news organisations.
After a long and contentious process, the Hong Kong Competition Ordinance was passed in 2012 and the foundations for its introduction are now being laid. Businesses should take proactive steps to prepare themselves for a significant change in Hong Kong's commercial landscape once the Competition Ordinance comes into full force.
In the final instalment of our three-part special edition of the Competition & Regulation newsletter, Part III: Anti-Competitive Conduct, we analyse the core commercial issues and developments in the areas of cartels, resale price maintenance, misuse of market power, exclusive dealing and merger clearance.
After years of major amendments to the competition provisions of the Competition and Consumer Act and unfair business provisions of the Australian Consumer Law, business may be forgiven for thinking there were few developments in 2012. Despite the absence of wholesale legislative reform, there were many issues to trip the unwary.
In this special three-part edition of the Competition & Regulatory Newsletter, we analyse the core commercial issues from 2012, and those to watch closely in 2013
Our special three-part edition of the Competition & Regulatory Newsletter continues this week with Part II: Penalties. In this issue we analyse the core commercial issues in penalties from 2012, and those to watch closely in 2013.
After years of major amendments to the competition provisions of the Competition and Consumer Act and unfair business provisions of the Australian Consumer Law, business may be forgiven for thinking there were few developments in 2012. In this special three-part edition of Competition & Regulation, we analyse the core commercial issues from 2012, and those to watch closely in 2013. Part I examines the Australian Consumer Law, including warranties against defects, management responsibility for compliance, and some of the critical cases that will establish new advertising rules.
The US Federal Energy Regulatory Commission's decision to require Barclays Bank to show cause why it should not be fined a record US$435 million for electricity market manipulation carries important lessons for participants in Australian energy markets.
Minter Ellison partners Anthony Lloyd, Paul Kallenbach and Paul Schoff have authored the Australian chapter of the new edition of Technology, Media and Telecommunications Review (John P Janka ed), published by Law Business Research in October 2012.
Businesses be warned... the clock for the ACCC's grace period for non-compliant warranties against defects stops on 30 September 2012. This article explains the provisions you need to be aware of to ensure continued compliance.
Infringement notices have become a standard enforcement tool of the ACCC. This article discusses the conduct and industries which have been the subject of infringement notices to date.
Australia's new 'price signalling' reforms came into force on 6 June 2012. However, their commencement has done little to stem the debate over whether cartel prohibitions under the Competition and Consumer Act 2010 are adequate to regulate anti-competitive price signalling.
The commencement of the warranty against defects regulations in January 2012 has renewed focus on the practical issues in applying the consumer guarantees regime under the Australian Consumer Law.
In this edition of Competition & Regulation, we look at:
The long-anticipated law against 'price signalling' under the Competition and Consumer Act comes into force today, Wednesday 6 June 2012. The laws apply to the deposit taking and advance activities of authorised deposit taking institutions and prohibit certain disclosures of information that substantially lessen competition.
On Friday 23 December 2011, Treasury released an exposure draft of the Competition & Consumer Amendment Regulations 2012. The draft regulations prescribe the goods and services to which the price signalling prohibitions under Part IV of the Competition and Consumer Act 2010 will apply from 6 June 2012.
Although the Australian Consumer Law prohibits 'unfair terms' in any standard form consumer contract after 1 July 2010, insurance contracts have to date been specifically exempted from the unfair terms regime. But now Treasury has released a consultation paper on options for ensuring that consumers who purchase insurance have an equivalent level of protection as applies to the purchase of other financial products and services – including the removal of those exemptions.
The ACCC's failed attempt to injunct the proposed purchase by Metcash of Franklins marks the first decided case on mergers under the Competition & Consumer Act 2010 since the AGL case. Emmet J's findings on the 'counterfactual analysis' required under section 50 have significant legal implications for other merger clearances and arguably lowers the bar for the ACCC to clear acquisitions with potentially anticompetitive effects. We look at whether the legal standard under section 50 has been set higher and opened the floodgates for more merger clearances.
On 24 August 2011, the Federal Court found that three Queensland commercial construction firms, TF Woollam & Son Pty Ltd (Woollam), JM Kelly (Project Builders) Pty Ltd (Kelly) and Carmichael Builders Pty Ltd (Carmichael) engaged in price fixing and misleading or deceptive conduct in contravention of the Trade Practices Act 1974 (now the Competition and Consumer Act 2010) by providing 'cover prices' in relation to a number of construction tenders. The court also made findings against managers at Woollam and Kelly.
In a high profile dispute over access to Chinese natural resources, a WTO panel on Tuesday 5 July found that China violated international trade rules by restricting the exportation of nine raw materials, refuting Beijing’s claim that these restrictions were based on environmental grounds.
Recent decisions of the Australian Competition Tribunal provide an opportunity to reflect on the efficiency and cost effectiveness of limited merits review under the National Electricity Law (NEL).
Information sharing between – and non-compete restrictions on – joint venturers are afforded certain protections under the Competition and Consumer Act 2010 (the Act).
A year has passed since amendments to the Trade Practices Act 1974 (now the Competition and Consumer Act 2010) gave the ACCC new enforcement tools in consumer protection cases. The first anniversary of these changes is a good time to reflect on how the ACCC has used its new powers, and what this may tell us about its future approach to consumer law enforcement.
In September 2010 the European Court of Justice (ECJ) confirmed that internal communications with in-house counsel are not protected by legal professional privilege (LPP), and may be inspected by the European Commission in cartel investigations. This decision reinforces the divergence between the EU position and that in Australia and New Zealand, where all confidential communications prepared for the 'dominant purpose' of obtaining legal advice are protected by LPP – regardless of whether that communication is with an external or in-house lawyer (acting in that capacity).
On 12 December 2010, the Government released an exposure draft bill (Exposure Draft) to amend the Competition and Consumer Act 2010 (which is still referred to as the Trade Practices Act 1974 until 1 January 2011)(Act)) to introduce two civil prohibitions on anti-competitive price signalling, as part of a broader package of banking reforms. This followed the introduction of a private member's bill by the Opposition at the end of November 2010.
The Australian Competition and Consumer Commission (ACCC) has begun flexing the new muscles it acquired in April 2010, as part of the Australian Consumer Law reforms, which allow it to issue 'infringement', 'substantiation' and 'public warning' notices to deal with suspected contraventions of the Trade Practices Act 1974 (TPA). This article provides an overview of when the new powers can be used, recent examples of use across a variety of industries, and a reminder of the practical implications for future commercial dealings.
Actions for misuse of market power contrary to section 46 of the Trade Practices Act 1974 (TPA) have been notoriously difficult to formulate, and even more difficult to successfully prosecute. However recent record penalties, and the ACCC's announcement that the investigation and enforcement of misuse of market power is a priority in its 2010-11 corporate plan, have drawn the potential application of this prohibition back into the spotlight.
Recent rulings handed down by the Australian Competition Tribunal in the long-running Pilbara railways declaration applications indicate that further review of Part IIIA is required.
Since the passage of the Trade Practices Amendment (Australian Consumer Law) Act (No.2) 2010 (ACL No. 2 Act) in June, business has been on notice that the current Trade Practices Act landscape for regulating consumer protection and unfair business practices will be overhauled from 1 January 2011, under the Australian Consumer Law. Now, with Treasury's release of a Consultation Draft of the Competition and Consumer (Australian Consumer Law) Amendment Regulations 2010 (ACL Regulations) on 24 September 2010, businesses and their advisors have a more complete picture of the obligations that will apply. This article provides an overview of where business' obligations will change from 1 January 2011, and where they will remain substantially the same.
The Trade Practices Amendment (Australian Consumer Law) Act (No 2) 2010 (the Act) introduces new notification requirements for suppliers that become aware that the use (or foreseeable misuse) of a consumer good has caused, or may have caused, serious injury, illness or death. The requirements, effective from 1 January 2011, form part of the suite of reforms to unify and expand Australia's consumer protection laws, under the new Australian Consumer Law.
Significant attention is currently being given to the reform of the implied warranty (consumer guarantees) and product safety regimes under the new Australian Consumer Law. However, little consideration has been given to an associated amendment to the consumer protection provisions that has the potential to significantly affect the structure and promotion of extended warranty products. This article examines that amendment, and the issues that need to be considered by manufacturers and retailers who offer extended warranty products, prior to 1 January 2011.
In this edition of Competition & Regulation we look at:
As the new national consumer law framework takes shape, the Australian Competition and Consumer Commission (ACCC) has gained further powers to enhance its enforcement armoury, with potentially wide implications for business representations in ordinary commercial conduct.
In 2005, the ACCC introduced its Immunity Policy, offering immunity from prosecution to the first eligible cartel participant to fulfil the Policy's conditions. Almost five years later, general awareness of, and experience with, the workings of the Policy have been relatively slow to develop. This has been largely due to the secrecy and confidentiality surrounding the process of applying for, and the granting of, immunity.
The Statement of Issues released recently by Australian Competition and Consumer Commission (ACCC) relating to the proposed acquisition of AXA Asia Pacific Holdings Limited (AXA) by two separate potential bidders, AMP Limited (AMP) and the National Australia Bank Limited (NAB), confirms a recent hardening of attitude for the competition regulator regarding acquisitions in the financial services and banking sector.
Over much of the last decade it has been widely reported that Australia's export infrastructure is in a state of crisis. The focus of these concerns has been the supply chain serving the multi-billion dollar coal export industry. Lengthy ship queues became a symbol for a lack of planning and investment in rail and port infrastructure. This issue lost much of its prominence as commodity prices tumbled and the demands on the supply chain eased. But prices are now rebounding and the ships are coming back. The concern then is whether effective steps have been taken to encourage the investment required to avoid a repeat of the conditions that prevailed in the middle of the decade.