Following a review (the Harper Review) of Australia’s competition legislation and regulation, instigated in 2013, significant changes have been made to the nation’s competition law. The changes are a result of recommendations submitted to government by the Review in 2015. The Government has accepted most of the review’s recommendations and legislation has recently passed to give these changes effect.
A broad range of amendments include those affecting: cartels, price signalling and concerted practices, exclusionary provisions, third line forcing, resale price maintenance, merger authorisations and non-merger authorisations, notifications and class exemptions, access and evidentiary provisions.
The objective of the changes is to prohibit the misuse of market power while permitting some practices previously prohibited provided that the practice does not substantially lessen competition.
The Treasury website includes background on the Review and for more information on changes, see here.
