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{\*\pnseclvl5\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8
\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \qc \li0\ri0\sa120\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2441181 
\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\b\f1\fs32\insrsid9441909 CRACKING CARTELS}{\b\f1\fs32\insrsid7961495 
\par }{\b\f1\fs32\insrsid9441909 
\par }\pard \qc \li0\ri0\sa120\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid9441909 {\b\f1\insrsid9441909\charrsid9441909 Discussion Draft
\par Comments Welcome}{\b\f1\fs32\insrsid9441909 
\par }{\b\f1\fs32\insrsid9441909\charrsid6586182 
\par }\pard \qc \li0\ri0\sa120\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2441181 {\b\f1\insrsid7961495\charrsid6586182 International and Australian Developments
\par }{\b\f1\insrsid1005616\charrsid6586182 
\par }{\b\f1\insrsid2441181\charrsid6586182 International Co-operation}{\fs32\insrsid2441181\charrsid6586182 
\par }\pard \qj \li0\ri0\sa120\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid2441181 {\insrsid12649229\charrsid6586182 
\par }\pard \qc \li0\ri0\sl480\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid9985930 {\b\f1\insrsid9985930\charrsid6586182 By
\par }{\b\f1\insrsid12649229\charrsid6586182 Bob Baxt, Partner Elect Freehills
\par }\pard \qj \li0\ri0\sa120\widctlpar\brdrt\brdrs\brdrw10\brsp20 \aspalpha\aspnum\faauto\adjustright\rin0\lin0\rtlgutter\itap0\pararsid12649229 {\insrsid12649229\charrsid6586182 
\par }\pard \qj \li0\ri0\sa120\sl360\slmult1\widctlpar\brdrt\brdrs\brdrw10\brsp20 \aspalpha\aspnum\faauto\adjustright\rin0\lin0\rtlgutter\itap0\pararsid5996519 {\insrsid12649229\charrsid6586182 I am grateful for the opportunity to participate in this}{
\insrsid7232570\charrsid6586182  conference, }{\insrsid14293654\charrsid6586182 which }{\insrsid7232570\charrsid6586182 I believe }{\insrsid14293654\charrsid6586182 is }{\insrsid7232570\charrsid6586182 the fi
rst of its kind to be held in Australia under the auspices of our competition regulator.}{\insrsid12649229\charrsid6586182 
\par }{\b\f1\insrsid4198810\charrsid6586182 Overview
\par }{\insrsid5644124\charrsid6586182 Having been involved in a number of }{\insrsid6586182 cartel }{\insrsid5644124\charrsid6586182 matters over the last year and a half where international co-operation has been critical}{\insrsid14293654\charrsid6586182 ,}{
\insrsid5644124\charrsid6586182  I can offer what I hope will be useful}{\insrsid6586182  indication}{\insrsid78885 s }{\insrsid5644124\charrsid6586182 from the point of view of an Australian practitioner}{\insrsid6586182  of issue}{\insrsid78885 s}{
\insrsid6586182  which arise in expediting}{\insrsid4198810\charrsid6586182  successful \'93settlement\'94 of an international cartel investigation}{\insrsid5644124\charrsid6586182 . }{\insrsid4198810\charrsid6586182 
The following points (some of which may be obvious to some of you) }{\insrsid6586182 may be}{\insrsid4198810\charrsid6586182  worth noting.}{\insrsid7232570\charrsid6586182 
\par {\listtext\pard\plain\s93 \cf6\lang3081\langfe1033\langfenp1033\insrsid5644124\charrsid6586182 \hich\af0\dbch\af0\loch\f0 1\tab}}\pard\plain \s93\qj \fi-709\li709\ri0\sa120\sl360\slmult1\widctlpar
\jclisttab\tx709\aspalpha\aspnum\faauto\ls40\adjustright\rin0\lin709\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\insrsid5644124\charrsid6586182 The Australian }{\insrsid7235133\charrsid6586182 
Leniency Program which was inaugurated in July }{\insrsid7291958\charrsid6586182 2003 is not backed by legislation.}{\insrsid4937692\charrsid6586182  Accordingly}{\insrsid15470457\charrsid6586182 ,}{\insrsid4937692\charrsid6586182 
 any arrangements that are reached with the regulator, }{\insrsid12259023\charrsid6586182 in this case the Australian Competition and Consumer Commission (the ACCC)}{\insrsid14293654\charrsid6586182 ,}{\insrsid14226025\charrsid6586182  mus
t be based on contractual or }{\insrsid1913908\charrsid6586182 other arrangements ( I shall return to this).}{\insrsid5644124\charrsid6586182 
\par {\listtext\pard\plain\s93 \cf6\lang3081\langfe1033\langfenp1033\insrsid1913908\charrsid6586182 \hich\af0\dbch\af0\loch\f0 2\tab}}{\insrsid1913908\charrsid6586182 Australia does not have a criminal code for dealing with the kind of }{
\insrsid4198810\charrsid6586182 c}{\insrsid1913908\charrsid6586182 artel behaviour }{\insrsid78885 that is the subject of}{\insrsid7748913\charrsid6586182  }{\insrsid6586182 other}{\insrsid7748913\charrsid6586182  papers at this }{\insrsid6586182 
conference}{\insrsid7748913\charrsid6586182 . We know that Australia is planning to introduce criminal sanctions for certain types of }{\insrsid4198810\charrsid6586182 c}{\insrsid7748913\charrsid6586182 
artel behaviour and it will be important to ascertain just how that fits in with the criminal regimes that operate in other jurisdiction}{\insrsid6586182 s}{\insrsid7748913\charrsid6586182  }{\insrsid6586182 with }{\insrsid7748913\charrsid6586182 
which Australia has co-operative agreements in place.}{\insrsid7961495\charrsid6586182  In additi
on Australia has yet to establish sentencing guidelines in this area that are meaningful. It will be important for these to be developed in consultation with agencies in other jurisdictions. The ne}{\insrsid6586182 x}{\insrsid7961495\charrsid6586182 
t task will be to ensure that these}{\insrsid6586182 , once implemented by the ACCC, are given careful attention}{\insrsid7961495\charrsid6586182  by our courts. }{\insrsid1913908\charrsid6586182 
\par {\listtext\pard\plain\s93 \cf6\lang3081\langfe1033\langfenp1033\insrsid7748913\charrsid6586182 \hich\af0\dbch\af0\loch\f0 3\tab}}{\insrsid7748913\charrsid6586182 The rules of procedure and}{\insrsid14293654\charrsid6586182 ,}{
\insrsid7748913\charrsid6586182  }{\insrsid3955161\charrsid6586182 in particular}{\insrsid14293654\charrsid6586182 , the}{\insrsid3955161\charrsid6586182  rules in relation to confidentiality }{\insrsid4198810\charrsid6586182 
of information provided to the ACCC (}{\insrsid6586182 and other regulators}{\insrsid4198810\charrsid6586182 ) }{\insrsid3955161\charrsid6586182 and }{\insrsid4198810\charrsid6586182 the concept of legal }{\insrsid3955161\charrsid6586182 
professional privilege}{\insrsid15288467\charrsid6586182  which operate}{\insrsid4198810\charrsid6586182 s}{\insrsid15288467\charrsid6586182  in Australia}{\insrsid14293654\charrsid6586182 ,}{\insrsid15288467\charrsid6586182 
 raise different problems to those which }{\insrsid4198810\charrsid6586182 I understand }{\insrsid15288467\charrsid6586182 impact on the operation of the profession in the US}{\insrsid6586182 ,}{\insrsid15288467\charrsid6586182  Canada}{\insrsid6586182 
 and elsewhere}{\insrsid15288467\charrsid6586182 . I know }{\insrsid14293654\charrsid6586182 a }{\insrsid15288467\charrsid6586182 little less about the }{\insrsid2688517\charrsid6586182 situation in Europe and in other jurisdictions}{
\insrsid14293654\charrsid6586182 . However}{\insrsid2688517\charrsid6586182  the existence of different rules operating to protect communications between client and lawyer on the one hand, and client and lawyer and the regulator (}{
\insrsid3175584\charrsid6586182 in our case the ACCC) on the other}{\insrsid1913957\charrsid6586182 , may result in striving for different \'93arrangements\'94}{\insrsid1797933\charrsid6586182  to structure the way in which leniency is sought.}{
\insrsid7961495\charrsid6586182  These \'93arrangements\'94, and the interpretation of the law in this area will be vital in minimising the impact of follow-on suits which are }{\insrsid6586182 now }{\insrsid7961495\charrsid6586182 
becoming very popular in Australia as well (they have be}{\insrsid6586182 en}{\insrsid7961495\charrsid6586182  popular in overseas jurisdiction}{\insrsid15751769\charrsid6586182 s}{\insrsid7961495\charrsid6586182  for many years). }{
\insrsid7748913\charrsid6586182 
\par {\listtext\pard\plain\s93 \cf6\lang3081\langfe1033\langfenp1033\insrsid16262585\charrsid6586182 \hich\af0\dbch\af0\loch\f0 4\tab}}{\insrsid16262585\charrsid6586182 The nature of the \'93safe harbour\'94
 that is provided by regulators in different countries to organisations that are \'93first in the door\'94}{\insrsid14293654\charrsid6586182 ,}{\insrsid16262585\charrsid6586182  in relation to leniency applications }{\insrsid14293654\charrsid6586182 has}{
\insrsid16262585\charrsid6586182  a major impact }{\insrsid14293654\charrsid6586182 o}{\insrsid16262585\charrsid6586182 n how }{\insrsid1851562\charrsid6586182 issues concerning co-operation with the regulator on
 a national and an international basis may be perceived. Whilst some countries provide concessional relief to later \'93sinners\'94 who reveal all, in Australia}{\insrsid1797013\charrsid6586182  the scenario is relatively unclear and untested.}{
\insrsid7961495\charrsid6586182 
\par }\pard\plain \qj \li720\ri0\sa120\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin720\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\insrsid4198810\charrsid6586182 Th}{\insrsid7961495\charrsid6586182 
ere are no doubt other}{\insrsid4198810\charrsid6586182  issues}{\insrsid7961495\charrsid6586182  that }{\insrsid6586182 participants }{\insrsid7961495\charrsid6586182 will highlight}{\insrsid4198810\charrsid6586182 .}{\insrsid7961495\charrsid6586182  }{
\insrsid16262585\charrsid6586182 
\par }\pard\plain \s93\qj \li0\ri0\sa120\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\insrsid1797013\charrsid6586182 In my presentation}{
\insrsid14293654\charrsid6586182 ,}{\insrsid1797013\charrsid6586182  I will not be discussing any detail of the international }{\insrsid78885 cooperation}{\insrsid10889225\charrsid6586182  }{\insrsid1797013\charrsid6586182 
agreements and how they may be interpreted.}{\insrsid7961495\charrsid6586182  As an annexure to this paper I have prepared a list of the most important Australian agreements which I understand are in place at this time. This }{
\insrsid15751769\charrsid6586182 list may}{\insrsid6586182 ,}{\insrsid15751769\charrsid6586182  however}{\insrsid6586182 ,}{\insrsid7961495\charrsid6586182  not be  up-to-date.}{\insrsid1797013\charrsid6586182  }{\insrsid15751769\charrsid6586182 
\par As a result of a number of matters I have been working on over the last year and a half I have prepared a more detailed draft discussion paper elaborating on these matters (with
 the assistance of law clerks and practitioners in Australia and elsewhere) and one day I may be in a position to publish this paper. }{\insrsid13721850\charrsid6586182  At this stage, however, the development of the law is still }{
\insrsid13775410\charrsid6586182 very much in the formative stages}{\insrsid14293654\charrsid6586182 .}{\insrsid13775410\charrsid6586182  }{\insrsid14293654\charrsid6586182 W}{\insrsid13775410\charrsid6586182 hilst there are many points of discussi}{
\insrsid78885 on that can be raised it may be}{\insrsid13775410\charrsid6586182  premature to fly to}{\insrsid14293654\charrsid6586182 o}{\insrsid13775410\charrsid6586182  many kites in th}{\insrsid14293654\charrsid6586182 is}{
\insrsid13775410\charrsid6586182  context going forward.}{\insrsid1797013\charrsid6586182 
\par }{\b\f1\insrsid4270814\charrsid6586182 The Inciden}{\b\f1\insrsid10889225\charrsid6586182 ce}{\b\f1\insrsid4270814\charrsid6586182  of }{\b\f1\insrsid11094531\charrsid6586182 Cartel}{\b\f1\insrsid4270814\charrsid6586182  Behaviour}{
\f1\insrsid4270814\charrsid6586182 
\par }{\insrsid816006\charrsid6586182 Having been a regulator myself (it seems now like many years ago}{\insrsid5264806\charrsid6586182 ,}{\insrsid816006\charrsid6586182  but it is only in fact thirteen years since I stepped down as chairman of}{
\insrsid5264806\charrsid6586182  the Trade Practices Commission}{\insrsid15751769\charrsid6586182  the forerunner of the A}{\insrsid12127185\charrsid6586182 CCC}{\insrsid816006\charrsid6586182 ) I am constantly bemused }{\insrsid3029942\charrsid6586182 
by the surprise expressed by both journalists and others at the uncovering of }{\insrsid10889225\charrsid6586182 c}{\insrsid3029942\charrsid6586182 artel behaviour}{\insrsid12471447\charrsid6586182 . During my period as }{\insrsid6586182 C}{
\insrsid12471447\charrsid6586182 hairman of the Trade Practices Commission}{\insrsid10039300\charrsid6586182 ,}{\insrsid12471447\charrsid6586182  the }{\insrsid15751769\charrsid6586182 statutory }{\insrsid12471447\charrsid6586182 
penalties for breaching the relevant legislation }{\insrsid2043795\charrsid6586182 did not carry any criminal sanction }{\insrsid10039300\charrsid6586182 at all }{\insrsid2043795\charrsid6586182 (}{\insrsid10039300\charrsid6586182 which remains }{
\insrsid2043795\charrsid6586182 the current position}{\insrsid10889225\charrsid6586182 , but not for much longer}{\insrsid2043795\charrsid6586182 )}{\insrsid3105744\charrsid6586182 .}{\insrsid2043795\charrsid6586182  }{\insrsid3105744\charrsid6586182 F}{
\insrsid10039300\charrsid6586182 urthermore}{\insrsid3105744\charrsid6586182 ,}{\insrsid10039300\charrsid6586182  }{\insrsid2043795\charrsid6586182 the maximum penalty }{\insrsid15751769\charrsid6586182 that could have}{\insrsid10889225\charrsid6586182 
 be}{\insrsid15751769\charrsid6586182 en}{\insrsid10889225\charrsid6586182  imposed }{\insrsid2043795\charrsid6586182 against a corporation for breaching }{\insrsid10242595\charrsid6586182 a price fixing provision or similar }{
\insrsid10889225\charrsid6586182 c}{\insrsid10242595\charrsid6586182 artel activity was }{\insrsid10039300\charrsid6586182 only }{\insrsid10242595\charrsid6586182 $250,000}{\insrsid14513878\charrsid6586182 . }{\insrsid12127185\charrsid6586182 
I and my colleagues at the Trade Practices Commission}{\insrsid14513878\charrsid6586182  certainly found that persons were}{\insrsid10039300\charrsid6586182 ,}{\insrsid14513878\charrsid6586182  perhaps}{\insrsid10039300\charrsid6586182 ,}{
\insrsid14513878\charrsid6586182  not as anxious or as willing to comply }{\insrsid78885 with the legislation as they appear to be}{\insrsid14513878\charrsid6586182  now}{\insrsid10039300\charrsid6586182 ,}{\insrsid14513878\charrsid6586182 
 where the maximum penalty }{\insrsid10039300\charrsid6586182 has }{\insrsid6586182 been }{\insrsid10039300\charrsid6586182 increased to }{\insrsid14513878\charrsid6586182 $10 million (}{\insrsid10039300\charrsid6586182 Australian }{
\insrsid13310344\charrsid6586182 Courts still do not impose those maximum penalties}{\insrsid10889225\charrsid6586182  \endash  This is a point of contrast and comparison that warrants some discussion at this session}{\insrsid13310344\charrsid6586182 ).}{
\insrsid2819330\charrsid6586182  }{\insrsid6586182 
\par }{\insrsid2819330\charrsid6586182 Compliance programs are now being pursued more vigorously and seriously but there is }{\insrsid10039300\charrsid6586182 still }{\insrsid2819330\charrsid6586182 a significant gap in }{\insrsid10889225\charrsid6586182 
the implementation of compliance}{\insrsid12127185\charrsid6586182  programmes}{\insrsid10889225\charrsid6586182 .}{\insrsid12127185\charrsid6586182 
 This is despite the fact that in Australia we also have the Commonwealth Criminal Code which came into effect at the end of 2000 and which makes compliance even more important that its ever been in the past.}{\insrsid10889225\charrsid6586182  A}{
\insrsid2819330\charrsid6586182 ccountants talk about an expectation gap and I think the ACCC could similarly talk about an expectation gap \endash  the expectation that people would comply more vigorously and rigorously with the Trade Practices Act.}{
\insrsid4270814\charrsid6586182 
\par }{\insrsid7431835\charrsid6586182 There are still many instances of }{\insrsid10889225\charrsid6586182 c}{\insrsid7431835\charrsid6586182 artel behaviour in this country. }{\insrsid12127185\charrsid6586182 Graeme }{\insrsid15346863\charrsid6586182 Samuel}
{\insrsid12127185\charrsid6586182  and the ACCC have certainly been playing up this as an area of }{\insrsid2784985\charrsid6586182 vigorous}{\insrsid12127185\charrsid6586182  enforcement. My personal experience }{\insrsid6586182 indeed }{
\insrsid12127185\charrsid6586182 suggests that this is an area of significant emphasis by the ACCC. }{\insrsid7431835\charrsid6586182 Sometimes the }{\insrsid2784985\charrsid6586182 c}{\insrsid7431835\charrsid6586182 
artel and similar activity does not result in the kind of significant damage to consumers as one would imagine. Certainly }{\insrsid4341987\charrsid6586182 consumers are not as willing to bring civil litigation to re
cover alleged damages (the absence of triple damages suits }{\insrsid10039300\charrsid6586182 and }{\insrsid4341987\charrsid6586182 the }{\insrsid10039300\charrsid6586182 particular }{\insrsid4341987\charrsid6586182 costs rule }{
\insrsid14042910\charrsid6586182 \endash  loser pays all! }{\insrsid4341987\charrsid6586182 which operate in this country }{\insrsid14042910\charrsid6586182  }{\insrsid10039300\charrsid6586182 may play a part in that unwillingness}{\insrsid11339016 .}{
\insrsid2784985\charrsid6586182  }{\insrsid11339016 N}{\insrsid2784985\charrsid6586182 evertheless the incidence of follow-on suits, referred to earlier, has increased in this country}{\insrsid4341987\charrsid6586182 ).}{\insrsid2784985\charrsid6586182  }
{\insrsid7431835\charrsid6586182 
\par }{\b\f1\insrsid10901751\charrsid6586182 International }{\b\f1\insrsid11094531\charrsid6586182 Cartel}{\b\f1\insrsid10901751\charrsid6586182 s \endash  make sure you get your cl}{\b\f1\insrsid5996519\charrsid6586182 aims for leniency in everywhere}{
\b\f1\insrsid10901751\charrsid6586182 
\par }{\insrsid10901751\charrsid6586182 On a }{\insrsid2784985\charrsid6586182 number}{\insrsid10901751\charrsid6586182  of occasions I have been involved in }{\insrsid14042910\charrsid6586182 advising on c}{\insrsid10901751\charrsid6586182 
artel arrangements where parties who }{\insrsid1533605\charrsid6586182 have }{\insrsid10901751\charrsid6586182 op}{\insrsid13057842\charrsid6586182 erate}{\insrsid1533605\charrsid6586182 d}{\insrsid13057842\charrsid6586182 
 on an international basis, but where }{\insrsid5264806\charrsid6586182 their }{\insrsid13057842\charrsid6586182 operations in this part of the world (Australia, New Zealand and to a lesser extent}{\insrsid5264806\charrsid6586182 ,}{
\insrsid13057842\charrsid6586182  }{\insrsid14042910\charrsid6586182 South East }{\insrsid13057842\charrsid6586182 Asia}{\insrsid10039300\charrsid6586182 )}{\insrsid11623034\charrsid6586182  }{\insrsid1533605\charrsid6586182 were }{
\insrsid11623034\charrsid6586182 not so significant}{\insrsid5264806\charrsid6586182 ,}{\insrsid11623034\charrsid6586182  }{\insrsid1533605\charrsid6586182 have }{\insrsid11623034\charrsid6586182 fail}{\insrsid1533605\charrsid6586182 ed}{
\insrsid11623034\charrsid6586182  to ensure that they }{\insrsid1533605\charrsid6586182 have sought }{\insrsid11623034\charrsid6586182 leniency everywhere that such }{\insrsid14042910\charrsid6586182 a policy }{\insrsid1533605\charrsid6586182 was }{
\insrsid11623034\charrsid6586182 available. }{\insrsid14042910\charrsid6586182 I}{\insrsid11623034\charrsid6586182 t is }{\insrsid14042910\charrsid6586182 apparently }{\insrsid11623034\charrsid6586182 not so unusual (}{\insrsid1985973\charrsid6586182 
although it is less usual than the other scenario) to find that parties engaged in }{\insrsid2784985\charrsid6586182 c}{\insrsid5264806\charrsid6586182 artel }{\insrsid1985973\charrsid6586182 
behaviour have lodged an application for leniency in a number of countries but }{\insrsid9792460\charrsid6586182 have }{\insrsid1985973\charrsid6586182 failed to }{\insrsid11339016 \'93}{\insrsid1985973\charrsid6586182 pick up}{\insrsid11339016 \'94}{
\insrsid1985973\charrsid6586182  the South East Asian }{\insrsid2784985\charrsid6586182 and the }{\insrsid14042910\charrsid6586182 Pacific }{\insrsid1985973\charrsid6586182 Region. }{\insrsid14042910\charrsid6586182 (}{\insrsid1985973\charrsid6586182 
Of course, the fact that we have a leniency program of an official nature in Australia is}{\insrsid5264806\charrsid6586182  very useful,}{\insrsid1985973\charrsid6586182  }{\insrsid1533605\charrsid6586182 as }{\insrsid1985973\charrsid6586182 
some of the countries in the region do not have leniency programs in operation}{\insrsid9792460\charrsid6586182 ,}{\insrsid1985973\charrsid6586182  and therefore}{\insrsid9792460\charrsid6586182 ,}{\insrsid1985973\charrsid6586182  different arrangements }
{\insrsid14042910\charrsid6586182 may }{\insrsid1985973\charrsid6586182 have to be put in place}{\insrsid1127693\charrsid6586182  to ensure that adequate protection is obtained}{\insrsid14042910\charrsid6586182 )}{\insrsid1127693\charrsid6586182 . }{
\insrsid11339016 
\par }{\insrsid1127693\charrsid6586182 Working with }{\insrsid2784985\charrsid6586182 various}{\insrsid1127693\charrsid6586182  law firms in other jurisdictions and with the regulators is a critical and vital issue and should be addressed very early in the }{
\insrsid11339016 relevant matter}{\insrsid1127693\charrsid6586182 .}{\insrsid14042910\charrsid6586182  As regulators}{\insrsid5587639\charrsid6586182  do }{\insrsid14042910\charrsid6586182 exchange information under treaties and cooperative arrangements }
{\insrsid78885 the failure to put in }{\insrsid14042910\charrsid6586182 a claim in}{\insrsid5587639\charrsid6586182  a}{\insrsid2784985\charrsid6586182  particular country}{\insrsid5587639\charrsid6586182  can be very embarrassing. }{
\insrsid9052995\charrsid6586182  In addition directors of companies (and other officers) who fail to ensure that leniency is applied for in every relevant jurisdiction may be in br
each of their duty of care. Angry shareholders whose companies have been fined heavily may wish to seek their \'93pound of flesh\'94 from the delinquent director.}{\insrsid10901751\charrsid6586182 
\par }{\insrsid1127693\charrsid6586182 It is my view that }{\insrsid7813327\charrsid6586182 greater co-operation should occur between the regulators }{\insrsid14642644\charrsid6586182 in these countries}{\insrsid9792460\charrsid6586182 .}{
\insrsid14642644\charrsid6586182  }{\insrsid9792460\charrsid6586182 Co-operation should occur through both the }{\insrsid14642644\charrsid6586182 formal }{\insrsid9792460\charrsid6586182 procedures that are }{\insrsid14642644\charrsid6586182 
encouraged through the various }{\insrsid9792460\charrsid6586182 existing }{\insrsid14642644\charrsid6586182 treaties }{\insrsid9792460\charrsid6586182 and through more informal channels}{\insrsid11339016 .}{\insrsid9792460\charrsid6586182  }{
\insrsid11339016 But they all need }{\insrsid14642644\charrsid6586182 to create a more efficient and effective method of co-operation in }{\insrsid11339016 dealing with }{\insrsid9052995\charrsid6586182 c}{\insrsid14642644\charrsid6586182 artel matters.}{
\insrsid13003775\charrsid6586182  }{\insrsid11339016 W}{\insrsid9052995\charrsid6586182 here there are exchanges between regulators}{\insrsid11339016 ,}{\insrsid9052995\charrsid6586182  which the parties are happy to encourage}{\insrsid11339016 ,}{
\insrsid9052995\charrsid6586182  this should be \'93regulated\'94, if possible, by protocols (as to which see later).}{\insrsid1127693\charrsid6586182 
\par }{\b\f1\insrsid5587639\charrsid6586182 Some }{\b\f1\insrsid9792460\charrsid6586182 Critical Issues \endash  the paperless process
\par }{\insrsid6515540\charrsid6586182 What are some of the critical issues }{\insrsid10819591\charrsid6586182 that I have come across in relation to the co-operation between regulators?}{\insrsid13721718\charrsid6586182 
 Perhaps the most interesting and important relates to what is a relatively new phenomenon in the Australian context \endash  the paperless process that }{\insrsid8399534\charrsid6586182 has been highlighted by Gary Spratling and Jarrett Arp}{
\insrsid4001968\charrsid6586182 :}{\insrsid78885  }{\insrsid11275632\charrsid6586182 see }{\insrsid78885 Spratling & Arp,}{\i\insrsid1533605\charrsid6586182  \lquote }{\i\insrsid8399534\charrsid6586182 The international leniency revolution}{
\i\insrsid4001968\charrsid6586182 \rquote }{\i\insrsid12670733\charrsid6586182  }{\insrsid12670733\charrsid6586182 paper presented to the American Bar Association 2003 Annual Meeting August 12 2003}{\i\insrsid12670733\charrsid6586182 ; }{
\insrsid12670733\charrsid6586182 see also}{\i\insrsid12670733\charrsid6586182  }{\insrsid2233488\charrsid6586182 Mansfield, Baer and Spratling}{\i\insrsid15408339\charrsid6586182  }{\i\insrsid4001968\charrsid6586182 \lquote }{
\i\insrsid7283919\charrsid6586182 T}{\i\insrsid15408339\charrsid6586182 he EU Leniency Program: the need for procedural reform}{\i\insrsid4001968\charrsid6586182 \rquote }{\i\insrsid2042824\charrsid6586182  presented }{\insrsid2042824\charrsid6586182 
at the International Cartel Workshop 2004 New York 6 February.}{\i\insrsid8399534\charrsid6586182 
\par }{\insrsid7283919\charrsid6586182 T}{\insrsid12597031\charrsid6586182 here was }{\insrsid9052995\charrsid6586182 initial }{\insrsid12597031\charrsid6586182 criticism of the ACCC}{\insrsid4001968\charrsid6586182 \rquote s}{\insrsid12597031\charrsid6586182 
 leniency policy }{\insrsid7283919\charrsid6586182 by US practitioner}{\insrsid9052995\charrsid6586182 s}{\insrsid7283919\charrsid6586182  }{\insrsid12597031\charrsid6586182 because }{\insrsid4001968\charrsid6586182 of the requirement that }{
\insrsid12597031\charrsid6586182 the application for leniency be notified by fa}{\insrsid5264806\charrsid6586182 csimile}{\insrsid12597031\charrsid6586182 . This has been suggested by Spratling and others}{\insrsid4001968\charrsid6586182 ,}{
\insrsid12597031\charrsid6586182  as }{\insrsid2688718\charrsid6586182 potentially }{\insrsid12597031\charrsid6586182 undermining the paperless process}{\insrsid11339016 .}{\insrsid9510768\charrsid6586182  }{\insrsid11339016 This}{
\insrsid9510768\charrsid6586182  is clearly }{\insrsid4001968\charrsid6586182 an }{\insrsid9510768\charrsid6586182 important dimension }{\insrsid4001968\charrsid6586182 in}{\insrsid9510768\charrsid6586182  the way these matters are pursued in the US}{
\insrsid78885  and}{\insrsid9510768\charrsid6586182  Canada}{\insrsid78885 .}{\insrsid9510768\charrsid6586182  }{\insrsid78885 Similar issues are }{\insrsid9510768\charrsid6586182 now being moulded into the way in which the UK and Europe}{\insrsid78885 
 are adopting}{\insrsid9510768\charrsid6586182  the paperless process.}{\insrsid2042824\charrsid6586182 
\par }{\insrsid7684020\charrsid6586182 Why is the paperless process so important? The answer }{\insrsid4001968\charrsid6586182 is, }{\insrsid7684020\charrsid6586182 in essence}{\insrsid4001968\charrsid6586182 ,}{\insrsid7684020\charrsid6586182  }{
\insrsid9052995\charrsid6586182 because of the rise }{\insrsid16256190\charrsid6586182 in follow-}{\insrsid2688718\charrsid6586182 on suits and }{\insrsid7684020\charrsid6586182 the relative ease (comparatively speaking) }{\insrsid2688718\charrsid6586182 
experienced by }{\insrsid7684020\charrsid6586182 third parties }{\insrsid2688718\charrsid6586182 obtaining }{\insrsid7684020\charrsid6586182 access to }{\insrsid2688718\charrsid6586182 \'93}{\insrsid7684020\charrsid6586182 confidential}{
\insrsid2688718\charrsid6586182 \'94}{\insrsid7684020\charrsid6586182  information provided to the }{\insrsid11339016 relevant regulator in}{\insrsid7684020\charrsid6586182   settlement negotiations in penalty cases }{\insrsid2688718\charrsid6586182 and }
{\insrsid11339016 in}{\insrsid2688718\charrsid6586182  }{\insrsid16256190\charrsid6586182 similar cases}{\insrsid8394785\charrsid6586182  in other jurisdictions}{\insrsid11339016 . This information is critical to such follow-on suits. }{
\insrsid7684020\charrsid6586182 
\par }{\b\f1\insrsid8394785\charrsid6586182 Obtaining \'93confidential\'94 information from regulators}{\b\f1\insrsid10975901\charrsid6586182 
\par }{\insrsid10975901\charrsid6586182 The ACCC}{\insrsid4001968\charrsid6586182 ,}{\insrsid10975901\charrsid6586182  }{\insrsid4001968\charrsid6586182 as }{\insrsid11339016 many }{\insrsid10975901\charrsid6586182 
participants to this conference will no doubt be aware, has very wide powers for obtaining information from parties where the ACCC forms the view that they may assist in relation to a potential breach to the law. In addition}{
\insrsid4001968\charrsid6586182 , the}{\insrsid10975901\charrsid6586182  examinations of officials results in the production of }{\insrsid4001968\charrsid6586182 a }{\insrsid10975901\charrsid6586182 
transcript which may not be protected from third party scrutiny.
\par The question of whether third parties could legitimately }{\insrsid8394785\charrsid6586182 access the information obtained by the ACCC as a result of }{\insrsid10975901\charrsid6586182 section }{\insrsid14820943\charrsid6586182 155 notice}{
\insrsid4001968\charrsid6586182 , }{\insrsid14820943\charrsid6586182  by }{\insrsid11339016 issuing}{\insrsid14820943\charrsid6586182  of }{\insrsid4001968\charrsid6586182 a }{\insrsid14820943\charrsid6586182 subpoena in litigation}{
\insrsid4001968\charrsid6586182 ,}{\insrsid14820943\charrsid6586182  was considered by the High Court of Australia }{\insrsid417388\charrsid6586182 in 1982 in }{\i\insrsid417388\charrsid6586182 Pioneer Concrete (Victoria)}{
\i\insrsid3093214\charrsid6586182  Pty Ltd v TPC}{\insrsid3093214\charrsid6586182 . Parties had applied for information pursuant to section 155}{\insrsid11683923\charrsid6586182 AA(1)}{\insrsid4001968\charrsid6586182 .}{\insrsid11683923\charrsid6586182 
 Gibbs CJ held that the voluntary communication by the TPC of information }{\insrsid6099388\charrsid6586182 that it obtained in response to a subpoena would be an abuse }{\insrsid14090962 of }{\insrsid6099388\charrsid6586182 power by the ACCC}{
\insrsid4001968\charrsid6586182 .}{\insrsid6099388\charrsid6586182  }{\insrsid4001968\charrsid6586182 However, }{\insrsid6099388\charrsid6586182 Mason J disagreed and ruled that a party}{\insrsid5591339\charrsid6586182 
 could subpoena transcripts of examinations under section 155. (See Mason J}{\insrsid4001968\charrsid6586182 ,}{\insrsid5591339\charrsid6586182  }{\i\insrsid5591339\charrsid78885 Pioneer Concrete}{\insrsid4001968\charrsid6586182 ,}{
\insrsid5591339\charrsid6586182  at page 43 \endash  936). The only qualification he made to such a ruling }{\insrsid15605314\charrsid6586182 was that the material obtained was not being used for improper purposes \endash 
 e.g. beyond the powers envisaged }{\insrsid13176361\charrsid6586182 being exercised by the ACCC or in contempt of a particular court direction.}{\insrsid10975901\charrsid6586182 
\par }{\insrsid13176361\charrsid6586182 Where an individual is being examined }{\insrsid5264806\charrsid6586182 by the ACCC under a section 155}{\insrsid13176361\charrsid6586182 (1)(c) notice}{\insrsid5264806\charrsid6586182 ,}{
\insrsid13176361\charrsid6586182  the transcript produced of }{\insrsid5264806\charrsid6586182 that }{\insrsid13176361\charrsid6586182 examination is generally not protected }{\insrsid2716729\charrsid6586182 
by any obligation of confidentiality. Perhaps parties should }{\insrsid6163566\charrsid6586182 negotiate arrangements with the ACCC which would prevent the examinees from divulging relevant information}{\insrsid14090962 .}{\insrsid6163566\charrsid6586182 
 }{\insrsid14090962 B}{\insrsid6163566\charrsid6586182 ut }{\insrsid5135049\charrsid6586182 who would have the legal right to develop that protocol? Generally speaking}{\insrsid13312227\charrsid6586182 ,}{\insrsid5135049\charrsid6586182  the individuals }
{\insrsid930754\charrsid6586182 retain different counsel to those representing the company }{\insrsid5772454\charrsid6586182 which is }{\insrsid930754\charrsid6586182 the subject of the investigation by the ACCC. Furthermore, the}{
\insrsid5772454\charrsid6586182 re remains a}{\insrsid930754\charrsid6586182  question }{\insrsid5772454\charrsid6586182 as to }{\insrsid930754\charrsid6586182  whether the ACCC }{\insrsid5772454\charrsid6586182 itself }{\insrsid930754\charrsid6586182 
would be prohibited from disclosing information it obtains from an }{\insrsid2652476\charrsid6586182 examinee. Although the case of }{\i\insrsid2652476\charrsid6586182 Johns v The Australian Securities Commission}{\insrsid2652476\charrsid6586182 
 (1993) 178 CLR 408 suggests that the ACCC would be bound by the same obligati}{\insrsid13312227\charrsid6586182 ons that }{\insrsid14090962 were}{\insrsid13312227\charrsid6586182  imposed on the }{\insrsid14090962 relevant regulator in that case}{
\insrsid13312227\charrsid6586182 , t}{\insrsid9444276\charrsid6586182 he matter has yet to be tested in a specific case.}{\insrsid13176361\charrsid6586182 
\par }{\b\f1\insrsid5772454\charrsid6586182 The role of Legal Professional Privilege
\par }{\insrsid1536397\charrsid6586182 Does }{\insrsid14090962 the operations of }{\insrsid1536397\charrsid6586182 legal professional privilege }{\insrsid14182315\charrsid6586182 change the 
answer? It is unlikely that any documents or transcripts obtained by the ACCC under section 155 of the TPA would be protected by legal professional privilege }{\insrsid6554344\charrsid6586182 from discovery by third parties.}{
\insrsid10494256\charrsid6586182  The Full Federal Court in }{\i\insrsid4994123\charrsid6586182 TPC v Ampol Petroleum (Vic) Pty Ltd}{\insrsid4994123\charrsid6586182  (1994) }{\insrsid78885 127 ALR 533 has suggested}{\insrsid10629639\charrsid6586182 
 that the }{\insrsid14090962 transcript etc}{\insrsid10629639\charrsid6586182 
 of an examination of a witness under section 155 would not be the subject of protection governed by legal professional privilege (see in particular Davies J at page 538 of that case).}{\insrsid1536397\charrsid6586182 
\par }{\b\f1\insrsid5772454\charrsid6586182 Access to documents arising from leniency applications
\par }{\insrsid10813986\charrsid6586182 In addition to the right to obtain infor}{\insrsid13312227\charrsid6586182 mation by virtue of section 155}{\insrsid10813986\charrsid6586182 AA}{\insrsid13312227\charrsid6586182 ,}{\insrsid10813986\charrsid6586182 
 the Commonwealth Freedom of Information }{\insrsid1187597\charrsid6586182 Act }{\insrsid5772454\charrsid6586182 (}{\insrsid1187597\charrsid6586182 1982}{\insrsid5772454\charrsid6586182 )}{\insrsid1187597\charrsid6586182 
 opens up the possibility that parties could obtain }{\insrsid1931684\charrsid6586182 information given to the ACCC under a leni
ency application. Section 11(1) of the Freedom of Information Act provides that any person who has a legally and forceful right to obtain access in accordance with the legislation }{\insrsid5857669\charrsid6586182 will be able to obtain access to \'93}{
\insrsid13312227\charrsid6586182 (}{\insrsid5857669\charrsid6586182 a}{\insrsid13312227\charrsid6586182 )}{\insrsid5857669\charrsid6586182  document of an agency, other than an e
xempt document; or (b) an official document of a minister, other than an exempt document}{\insrsid13312227\charrsid6586182 \'94}{\insrsid5857669\charrsid6586182 .}{\insrsid11677347\charrsid6586182  }{\insrsid6642338\charrsid6586182 Although }{
\insrsid5772454\charrsid6586182 the ACCC tends not to grant access to such documents}{\insrsid6642338\charrsid6586182 , some }{\insrsid11677347\charrsid6586182 FOI application}{\insrsid6642338\charrsid6586182 s}{\insrsid11677347\charrsid6586182 
 may well result in the release of }{\insrsid6642338\charrsid6586182 critical}{\insrsid11677347\charrsid6586182  document}{\insrsid6642338\charrsid6586182 s}{\insrsid11677347\charrsid6586182  }{\insrsid3552437\charrsid6586182 by virtue of a court order}{
\insrsid6642338\charrsid6586182 .}{\insrsid3552437\charrsid6586182  }{\insrsid10629639\charrsid6586182 
\par }{\insrsid6642338\charrsid6586182 In relation to FOI requests, t}{\insrsid3552437\charrsid6586182 he courts have been even more generous in this area than they have been in the past.}{\insrsid3820729\charrsid6586182 
 In a recent Federal Court decision involving access }{\insrsid6642338\charrsid6586182 to information }{\insrsid3820729\charrsid6586182 by news reporters  }{\insrsid6642338\charrsid6586182 (see }{\i\insrsid16467932\charrsid6586182 Williams v Forgie}{
\insrsid16467932\charrsid6586182  (2003) [FCN991]}{\insrsid6642338\charrsid6586182 )}{\insrsid16467932\charrsid6586182  Heerey J granted the Herald and Weekly Times leave to inspect outlines of evidence, statements }{\insrsid3083378\charrsid6586182 
of contention to fact and law an}{\insrsid6642338\charrsid6586182 d}{\insrsid3083378\charrsid6586182  affidavits filed in a matter involving a professional footballer. In }{\insrsid6642338\charrsid6586182 his honour\rquote s}{
\insrsid3083378\charrsid6586182  view access to such documents should be allowed }{\insrsid14244955\charrsid6586182 unless }{\insrsid7275936\charrsid6586182 the interests of justice require }{\insrsid6642338\charrsid6586182 a }{
\insrsid7275936\charrsid6586182 different conclusion.}{\insrsid3552437\charrsid6586182 
\par }{\b\f1\insrsid16256190\charrsid6586182 Access to ACCC documents in penalty cases
\par }{\insrsid16256190\charrsid6586182 One of the tricky issues that face parties that negotiate penalty settlements with the regulator (in our case of course the ACCC but the issue is going to be important in other areas of law such as under the }{
\i\insrsid16256190\charrsid14090962 Corporations Act}{\insrsid14090962 )}{\insrsid16256190\charrsid6586182 , is that some courts have been willing to allow third }{\insrsid15346863\charrsid6586182 parties}{\insrsid16256190\charrsid6586182 
 to gain access to documents that may have been prepared for the regulator. }{\insrsid5312213\charrsid6586182 So, for example}{\insrsid16256190\charrsid6586182 , in }{\i\insrsid16256190\charrsid6586182 Australian Competition and Consumer Commission }{
\i\insrsid5312213\charrsid6586182 and }{\i\insrsid16256190\charrsid6586182 AB}{\i\insrsid14090962 B}{\i\insrsid16256190\charrsid6586182  Power Transmission Pty Ltd}{\insrsid16256190\charrsid6586182  }{\insrsid5312213\charrsid6586182 
([2003]) F.C.A 626 the Federal Court of Australia ruled that certain documents, including affidavits, draft statements of facts and other relevant papers }{\insrsid14090962 had}{\insrsid5312213\charrsid6586182 
 been prepared by a party in the course of co-oper
ating with the ACCC in order to reach a settlement agreement on penalty, were not protected from access by a relevant third party. Other courts have resisted attempts to obtain such documentation but in light of cases such as }{
\i\insrsid5312213\charrsid6586182 Williams v Forgie}{\insrsid5312213\charrsid6586182  this is an area of practice that is attracting a considerable amount of attention.  }{\insrsid16256190\charrsid6586182 
\par }{\b\f1\insrsid8394785\charrsid6586182 Interesting US developments
\par }{\insrsid7275936\charrsid6586182 The US law in relation to paperless process and leniency applications is far more complex than anything we have yet developed in Australia. Apart from the 
fact that there are different legal professional privilege rules in the US }{\insrsid16080331\charrsid6586182 (the work product doctrine is one that immediately comes to mind }{\insrsid728653\charrsid6586182 
as well as the grand jury procedure in the US in relation to criminal sanctions)}{\insrsid6642338\charrsid6586182 ,}{\insrsid728653\charrsid6586182  }{\insrsid6642338\charrsid6586182 t}{\insrsid9007116\charrsid6586182 he generosity of the US courts, a
s illustrated by the Vitamins Antitrust litigation (January}{\insrsid11275632\charrsid6586182  23,}{\insrsid9007116\charrsid6586182  2002)}{\insrsid6642338\charrsid6586182 ,}{\insrsid9007116\charrsid6586182 
 provides a stark example of how documents which }{\insrsid8279497\charrsid6586182 were }{\insrsid2325029\charrsid6586182 thought }{\insrsid6642338\charrsid6586182 to be }{\insrsid2325029\charrsid6586182 
safe from third party access became available to third parties that wished to serve.}{\insrsid7275936\charrsid6586182 
\par }{\insrsid6172671\charrsid6586182 The }{\i\insrsid6172671\charrsid6586182 Vitamins}{\insrsid6172671\charrsid6586182  case involved an international group of vitamin companies who collaborated, }{\insrsid6642338\charrsid6586182 by }{
\insrsid6172671\charrsid6586182 meeting systemically to fix prices with an elaborate set of rules, forging agreements about the precise amount of vitamins that would be sold by each company and establishing sales targets for spec
ific vitamins. (David Segal, \lquote Record Fine for Vitamin Cartel; Foreign Firms Fixed Prices, U.S. Says\rquote  }{\i\insrsid6172671\charrsid6586182 The Washington Post}{\insrsid6172671\charrsid6586182 
, 21 May 1999, p A01) Many of the companies involved sought leniency from the relevant competition regulators and}{\insrsid6642338\charrsid6586182 ,}{\insrsid6172671\charrsid6586182  as a result}{\insrsid6642338\charrsid6586182 ,}{
\insrsid6172671\charrsid6586182  provided
 the regulators with incriminating evidence of their conduct. However, unfortunately for the defendants, Chief Judge Thomas Hogan ruled that the information provided to the regulators for the purposes of obtaining leniency was discoverable in proceedings 
brought by third party applicants.
\par The defendants\rquote  argument that the \lquote unique privileges available in foreign countries insulate[d] their documents from discovery in those countries}{\insrsid8279497\charrsid6586182 \rquote }{\insrsid6172671\charrsid6586182 
. (Gerald Satarelli and James Morsch, }{\insrsid10168177\charrsid6586182 \lquote }{\insrsid6172671\charrsid6586182 \'93We\rquote re safe as long as we meet outside the US\'94 and other }{\insrsid8394785\charrsid6586182 \'93}{
\insrsid6172671\charrsid6586182 fairy tales}{\insrsid8394785\charrsid6586182 \'94}{\insrsid6172671\charrsid6586182  about the scope of the US antitrust laws\rquote  (2002) }{\i\insrsid6172671\charrsid6586182 Corporate Counsel}{
\insrsid6172671\charrsid6586182  at }{\insrsid10168177\charrsid6586182 p}{\insrsid11103185\charrsid6586182 age }{\insrsid6172671\charrsid6586182 5)}{\insrsid6642338\charrsid6586182 .}{\insrsid6112143\charrsid6586182  The plaintiffs successfully argued }{
\insrsid7892658\charrsid6586182 that the defendants waived any attorney-client or work product privilege because the submissions made to foreign authorities were not compelled or confidential. (The plaintiffs}{\insrsid1799606\charrsid6586182 
 argued that they were not compelled or confidential because they were submitted in connection with a leniency program or because no sanction was attached to a failure to respond to a fore
ign governmental request for information. Also there was no reasonable expectation that the information would be kept confidential)}{\insrsid10168177\charrsid6586182 .}{\insrsid6060016\charrsid6586182  Chief Judge Hogan, noting that \lquote 
this Circuit distinguishes actions motivated by self-interest from those that are effectively involuntary\rquote , (}{\i\insrsid6060016\charrsid6586182 Vitamins}{\insrsid6060016\charrsid6586182  case at p 68}{\insrsid15421321\charrsid6586182 .)}{
\insrsid13450175\charrsid6586182  agreed with the plaintiffs that \lquote compelled\rquote  requires a court order or equally \lquote extraordinary circumstances\rquote .}{\insrsid6642338\charrsid6586182  }{\insrsid13450175\charrsid6586182 (Ibid at p 67)}
{\insrsid6642338\charrsid6586182 .}{\insrsid13775737\charrsid6586182  The defendants\rquote  broader argument that \lquote compelled\rquote  could refer to a company\rquote s voluntary response to a governmental authority\rquote 
s request for information in aid of an antitrust investigation}{\insrsid6642338\charrsid6586182 ,}{\insrsid13775737\charrsid6586182  where a failure to comply}{\insrsid7151265\charrsid6586182 
 with the request will inevitably result in a demand that may have serious consequences for the company }{\insrsid6642338\charrsid6586182 (}{\insrsid7151265\charrsid6586182 including }{\insrsid10168177\charrsid6586182 \lquote }{
\insrsid7151265\charrsid6586182 adversely affecting its claim for leniency}{\insrsid10168177\charrsid6586182 \rquote }{\insrsid7151265\charrsid6586182 , or }{\insrsid10168177\charrsid6586182 \lquote }{\insrsid7151265\charrsid6586182 
result[ing] in the imposition of fines}{\insrsid10168177\charrsid6586182 \rquote }{\insrsid7151265\charrsid6586182  (Ibid)}{\insrsid10168177\charrsid6586182 )}{\insrsid7151265\charrsid6586182  was not adopted by the court.}{
\insrsid6172671\charrsid6586182 
\par }{\insrsid7151265\charrsid6586182 Chief Judge Hogan also found that there was nothing }{\insrsid6642338\charrsid6586182 in }{\insrsid7151265\charrsid6586182 \lquote statute or regulation, practice or procedure, or agreement expressly or specifically guar
anteed\rquote  which guaranteed that the defendants\rquote  submissions would be kept confidential by the foreign government authorities from third parties.}{\insrsid11237729\charrsid6586182  (Ibid at p 77). It was his view that the \lquote interests of 
\'85 foreign governmental authorities are not more important than the interests of the United States in open discovery and enforcement of the antitrust laws.\rquote  (Ibid at p 82).}{\insrsid7151265\charrsid6586182 
\par }\pard\plain \qj \li0\ri0\sa120\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\b\f1\insrsid5312213\charrsid6586182 
Co-operation between agencies to prevent access by third parties
\par }\pard\plain \s93\qj \li0\ri0\sa120\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\insrsid7697653\charrsid6586182 
Civil suits that are brought by persons who are able to obtain this information has led to an almost paranoid approach to leniency applications}{\insrsid8394785\charrsid6586182 .}{\insrsid7697653\charrsid6586182  }{\insrsid8394785\charrsid6586182 C}{
\insrsid7697653\charrsid6586182 o-operation between the various government agencies}{\insrsid8394785\charrsid6586182  has at times been }{\insrsid9962483\charrsid6586182 \'93strained\'94}{\insrsid7697653\charrsid6586182 
. Some are more willing to meet the demands of US attorneys for a paperless process to minimise the impact of these }{\insrsid10168177\charrsid6586182 \lquote }{\insrsid7697653\charrsid6586182 follow on suits}{\insrsid10168177\charrsid6586182 \rquote }{
\insrsid6642338\charrsid6586182 .}{\insrsid7697653\charrsid6586182  }{\insrsid6642338\charrsid6586182 O}{\insrsid7697653\charrsid6586182 thers}{\insrsid6642338\charrsid6586182 ,}{\insrsid7697653\charrsid6586182  such as}{\insrsid9962483\charrsid6586182 
, I understand some of the members of the European Union}{\insrsid6642338\charrsid6586182 ,}{\insrsid7697653\charrsid6586182  tend to be more circumspect and conservative. }{\insrsid2829360\charrsid6586182  }{\insrsid14090962 
\par }{\insrsid2829360\charrsid6586182 I understand that the ACCC has adopted a very proactive role in dealing with applications in the US for acc
ess to papers that it may have received in the context of settlement negotiations etc. Some US courts have been sympathetic to the ACCCs proactive stance; in other cases the ACCC has failed to prevent access being obtained at least when the cases were arg
ued at first instance.  This is a matter that will no doubt continued to attract considerable attention. }{\insrsid14371155\charrsid6586182 
\par }{\b\f1\insrsid10696177\charrsid6586182 Challenging immunities}{\f1\insrsid10696177\charrsid6586182 
\par }{\insrsid10696177\charrsid6586182 It is important that parties which wish to gain immunity from }{\insrsid2565314\charrsid6586182 regulators seek to lodge }{\insrsid1119851\charrsid6586182 their }{\insrsid2565314\charrsid6586182 
particular applications or make their approaches as quickly as possible. I have been involved }{\insrsid4330729\charrsid6586182 in a matter where a company was to}{\insrsid1119851\charrsid6586182 o}{\insrsid4330729\charrsid6586182 
 slow to lodge its application in one country }{\insrsid3046532\charrsid6586182 but was able to gain \'93first entry\'94 in Australia and New Zealand. The company that had gained immunity }{\insrsid9962483\charrsid6586182 in other countries }{
\insrsid3046532\charrsid6586182 was later to lose that immunity as a result of }{\insrsid354601\charrsid6586182 the regulator forming the view that the compa}{\insrsid78885 ny had obtained immunity because it had provided}{\insrsid354601\charrsid6586182 
 false or misleading information. Whilst it may be }{\insrsid9962483\charrsid6586182 in a sense }{\insrsid354601\charrsid6586182 too late for the company that has gained immunity in }{\insrsid9962483\charrsid6586182 the }{\insrsid354601\charrsid6586182 
other jurisdictions }{\insrsid9962483\charrsid6586182 (such as Australia) }{\insrsid354601\charrsid6586182 but not in the major jurisdictions (}{\insrsid13507233\charrsid6586182 in this case the North American and European scenario)}{
\insrsid9962483\charrsid6586182 , where they may have been }{\insrsid78885 pernalised}{\insrsid1329927\charrsid6586182  it is nevertheless important }{\insrsid14090962 for thos}{\insrsid15798150 e}{\insrsid14090962  companies }{
\insrsid1329927\charrsid6586182 to maintain the attitude that }{\insrsid78885 they will}{\insrsid1329927\charrsid6586182  co-operate with the relevant regulators }{\insrsid539710\charrsid6586182 to }{\insrsid14090962 minimise penalties. They should }{
\insrsid15798150 also }{\insrsid539710\charrsid6586182 assist  the regulators }{\insrsid15798150 in their }{\insrsid7686267 pursuit}{\insrsid15798150  of }{\insrsid539710\charrsid6586182  cases }{\insrsid15798150 flowing from the relevant disclosure. }{
\f1\insrsid10696177\charrsid6586182 
\par }{\b\f1\insrsid12008180\charrsid6586182 Various treaties between organisations}{\insrsid12008180\charrsid6586182 
\par }{\insrsid9962483\charrsid6586182 As noted i}{\insrsid12008180\charrsid6586182 t is not my intention to discuss the relevant treaties that operate in this context.}{\insrsid5181289\charrsid6586182  }{\insrsid9962483\charrsid6586182 Some of Australia
\rquote s treaties in place at this time are set out in annexure to this paper.}{\insrsid5181289\charrsid6586182  }{\insrsid9962483\charrsid6586182 B}{\insrsid5181289\charrsid6586182 ecause }{\insrsid14704461\charrsid6586182 most }{
\insrsid9962483\charrsid6586182 c}{\insrsid14704461\charrsid6586182 artel behaviour operates }{\insrsid13461716\charrsid6586182 on an international basis, the utilisation of the interaction between regulators can be significant. }{\insrsid15798150 
\par }{\insrsid13461716\charrsid6586182 A leading commentator on }{\insrsid15953858\charrsid6586182 the proliferation of hard core }{\insrsid11094531\charrsid6586182 Cartel}{\insrsid15953858\charrsid6586182  activities, Jason Medinger }{
\insrsid6642338\charrsid6586182 (}{\insrsid15953858\charrsid6586182 in his article \'93}{\insrsid420279\charrsid6586182 Antitrust Leniency P}{\insrsid15953858\charrsid6586182 rograms\'94 Emery Law Journal }{\insrsid6642338\charrsid6586182 at page }{
\insrsid15953858\charrsid6586182 52}{\insrsid6642338\charrsid6586182 )}{\insrsid15953858\charrsid6586182  noted that the activities of relevant organisations }{\insrsid13109741\charrsid6586182 adminis
tering leniency policies and similar initiatives can utilise those to establish }{\insrsid9962483\charrsid15798150 clear and }{\insrsid15427925\charrsid15798150 certain incentives}{\insrsid9962483\charrsid6586182  }{\insrsid15427925\charrsid6586182 to }{
\insrsid15798150 c}{\insrsid11094531\charrsid6586182 artel}{\insrsid15427925\charrsid6586182  members as well as providing a valuable tool in fighting }{\insrsid15798150 il}{\insrsid15427925\charrsid6586182 legal }{\insrsid15798150 c}{
\insrsid11094531\charrsid6586182 artel}{\insrsid15427925\charrsid6586182  conduct.}{\insrsid5404227\charrsid6586182  They are also able to \'93achieve more effective deterrents by exacerbating the risk }{\insrsid9518383\charrsid6586182 
that offenders will be exposed by their very own }{\insrsid420279\charrsid6586182 co-conspirators (see Medinger}{\insrsid15798150 ,}{\insrsid420279\charrsid6586182  Antitrust Leniency Programs at page 1439)}{\insrsid1119851\charrsid6586182 \'94}{
\insrsid420279\charrsid6586182 . Spratling and Arp}{\insrsid6047316\charrsid6586182  in their article }{\insrsid6642338\charrsid6586182 (}{\insrsid6047316\charrsid6586182 referred to }{\insrsid6642338\charrsid6586182 above}{\insrsid15798150 )}{
\insrsid3546357\charrsid6586182  note}{\insrsid6047316\charrsid6586182  that leniency policies are \'93now viewed as a critical component of a modern, viable anti }{\insrsid11094531\charrsid6586182 Cartel}{\insrsid6047316\charrsid6586182 
 enforcement strategy\'94 (}{\insrsid670275\charrsid6586182 Spratling and Arp at page 15).}{\insrsid12008180\charrsid6586182 
\par }{\insrsid670275\charrsid6586182 Full disclosure is important in }{\insrsid6888047\charrsid6586182 seeking leniency from a }{\insrsid15798150 the relevant}{\insrsid6888047\charrsid6586182  regulator}{\insrsid1119851\charrsid6586182 ,}{
\insrsid6888047\charrsid6586182  }{\insrsid3546357\charrsid6586182 as }{\insrsid6888047\charrsid6586182 not only is there a chance that the application will be reviewed}{\insrsid3546357\charrsid6586182 ,}{\insrsid6888047\charrsid6586182  but }{
\insrsid3546357\charrsid6586182 there is also the danger that }{\insrsid6888047\charrsid6586182 the regulator turning its attention}{\insrsid1119851\charrsid6586182  on the \'93confessor\'94}{\insrsid3546357\charrsid6586182  may }{
\insrsid7365865\charrsid6586182 trigger follow on suits of a very significant fashion}{\insrsid12730533\charrsid6586182 .}{\insrsid670275\charrsid6586182 
\par }{\b\f1\insrsid11016816\charrsid6586182 Protocols
\par }{\insrsid11016816\charrsid6586182 In those countries where there is no formality in pursuing immunity, and the parties are not certain that immunity will stand them in good stead}{\insrsid15798150  vis a vis the regulator}{
\insrsid11016816\charrsid6586182  in terms of later developments, it is advisable for a protocol to be drafted with the claimant and the regulator. This may be a sensible way to proceed in any event.
\par I have been involved in drafting a number of protocols}{\insrsid6440856\charrsid6586182 .}{\insrsid11016816\charrsid6586182  }{\insrsid6440856\charrsid6586182 A}{\insrsid11016816\charrsid6586182 s the matters that I am involved in are still current it is 
}{\insrsid7109270 not appropriate to discuss them}{\insrsid11016816\charrsid6586182 . However, it will not surprise you to note that these protocols should be as comprehensive as possible}{\insrsid15798150 .}{\insrsid6440856\charrsid6586182  }{
\insrsid15798150 A}{\insrsid6440856\charrsid6586182 part from ensuring that information provided to the regulator is not to be released without permission, the protocol should also ensure that the regulator}{\insrsid11016816\charrsid6586182 
 will not utilise the information provided by the leniency seeker in later litigation against the leniency seeker}{\insrsid15798150 .}{\insrsid11016816\charrsid6586182  }{\insrsid15798150 T}{\insrsid6440856\charrsid6586182 he protocol
 should also try to protect as much as possible current directors and officers of}{\insrsid1133151\charrsid6586182  the relevant organisation. }{\insrsid11016816\charrsid6586182 
Of course, the relevant regulator will want to give itself as much flexibility as possible in pursuing former officers who are no longer with the organisation. }{\insrsid1133151\charrsid6586182 
\par }{\insrsid11016816\charrsid6586182 
The nature of the protocol should not only deal with the relationship between the leniency seeker and the relevant regulator but also structure the way in which the regulator can co-operate with other regulators in exchanging information in p
ursuit of the particular matter. After all in the context of the leniency application the relevant regulator will want to use the information obtained to mount appropriate litigation against the \'93guilty parties\'94
 (who have not had the benefit of immunity). The protocols would normally permit the regulator to use the information obtained in litigation and require the relevant leniency seeker and its officers to assist the regulator in litigation going forward.

\par Obviously any protocol that is negotiated between parties must be }{\insrsid1133151\charrsid6586182 negotiated in}{\insrsid11016816\charrsid6586182  good faith and on }{\insrsid1133151\charrsid6586182 the}{\insrsid11016816\charrsid6586182 
 basis that there will be no misleading or deceptive conduct. As I have noted earli}{\insrsid7109270 er in this brief paper there can be}{\insrsid11016816\charrsid6586182  }{\insrsid1133151\charrsid6586182 instances}{\insrsid11016816\charrsid6586182 
 where immunity has been removed as a result of non-disclosure or f}{\insrsid1133151\charrsid6586182 alse}{\insrsid11016816\charrsid6586182  info
rmation being provided. In this context the protocol should obviously try to protect the relevant parties from unauthorised disclosure by relevant regulators to third parties seeking access.
\par }{\insrsid1133151\charrsid6586182 The protocol might also set out in some detail the nature of the arrangements }{\insrsid15798150 to operate }{\insrsid1133151\charrsid6586182 when the }{\insrsid15346863\charrsid6586182 leniency}{
\insrsid1133151\charrsid6586182  seeker and its advisors reveal }{\insrsid15798150 (}{\insrsid1133151\charrsid6586182 in an oral fashion}{\insrsid15798150 )}{\insrsid1133151\charrsid6586182  the facts surrounding the particular cartel behaviour}{
\insrsid15798150  to the relevant regulator}{\insrsid1133151\charrsid6586182 . There can be some tricky issues here depending on how different rules }{\insrsid15346863\charrsid6586182 relating}{\insrsid1133151\charrsid6586182  to
 legal professional privilege might apply. Regulators may not only want to have note takers present (which the }{\insrsid15346863\charrsid6586182 leniency}{\insrsid1133151\charrsid6586182  seeker will }{\insrsid1389751 generally}{
\insrsid1133151\charrsid6586182  resist)}{\insrsid1389751 .}{\insrsid1133151\charrsid6586182  }{\insrsid1389751 T}{\insrsid1133151\charrsid6586182 he Regulator may also want legal counsel present. Tricky questions can arise as to whether any record }{
\insrsid7109270 (taped or otherwise) }{\insrsid1133151\charrsid6586182 can be kept of such meetings and if records are kept what status they have. 
\par Other }{\insrsid1389751 relevant }{\insrsid1133151\charrsid6586182 questions}{\insrsid1389751  and clues}{\insrsid1133151\charrsid6586182  may include:
\par {\listtext\pard\plain\s96 \cf6\lang3081\langfe1033\langfenp1033\insrsid1133151\charrsid6586182 \hich\af0\dbch\af0\loch\f0 (1)\tab}}\pard\plain \s96\qj \fi-600\li600\ri0\sa120\sl360\slmult1\widctlpar
\jclisttab\tx600\aspalpha\aspnum\faauto\ls40\ilvl3\adjustright\rin0\lin600\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\insrsid1133151\charrsid6586182 what i}{\insrsid1389751 f}{\insrsid1133151\charrsid6586182  the ACCC 
}{\insrsid1389751 (or other }{\insrsid7686267 regulators}{\insrsid1389751 ) }{\insrsid1133151\charrsid6586182 decides that the relevant matter is not one that it wishes to }{\insrsid15346863\charrsid6586182 pursue}{\insrsid1133151\charrsid6586182 ?  }{
\insrsid1389751 Will (or can)}{\insrsid1133151\charrsid6586182  it issue a letter assuring the relevant party that it will not be prosecuted if later information }{\insrsid1389751 come to its attention}{\insrsid1133151\charrsid6586182 .}{
\insrsid7630717\charrsid6586182 
\par {\listtext\pard\plain\s96 \cf6\lang3081\langfe1033\langfenp1033\insrsid7630717\charrsid6586182 \hich\af0\dbch\af0\loch\f0 (2)\tab}what use can be made by the ACCC by the information it obtains in such an event \endash 
 for example if Australia happens to be the first country in which confession is made and regulators from other jurisdictions seek information from the }{\insrsid1389751 ACCC which had decided no}{\insrsid7686267 t to util}{\insrsid1389751 
ise in its own investigations.}{\insrsid7630717\charrsid6586182 
\par {\listtext\pard\plain\s96 \cf6\lang3081\langfe1033\langfenp1033\insrsid7630717\charrsid6586182 \hich\af0\dbch\af0\loch\f0 (3)\tab}}\pard \s96\qj \fi-600\li600\ri0\sa120\sl360\slmult1\widctlpar
\jclisttab\tx600\aspalpha\aspnum\faauto\ls40\ilvl3\adjustright\rin0\lin600\itap0\pararsid1389751 {\insrsid7630717\charrsid6586182 what status does the relevant protocol have in the event that one of the other pa
rties decides to back away from what is contained in the \'93agreements\'94? }{\insrsid1389751 This is particularly relevant because the }{\insrsid7686267 leniency}{\insrsid1389751  programme in Australia has no statutory backing. }{
\insrsid7630717\charrsid6586182 This is particularly relevant because the }{\insrsid15346863\charrsid6586182 leniency}{\insrsid7630717\charrsid6586182  program in Australia has no statutory backing. }{\insrsid1389751 
\par {\listtext\pard\plain\s96 \cf6\lang3081\langfe1033\langfenp1033\insrsid7630717\charrsid6586182 \hich\af0\dbch\af0\loch\f0 (4)\tab}}{\insrsid7630717\charrsid6586182 What arrangements should be negotiated in relation to publicity once the matter has been 
\'93concluded\'94.
\par }\pard\plain \qj \li0\ri0\sa120\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\insrsid1389751 Participants}{\insrsid7630717\charrsid6586182 
 will no doubt have other issues that }{\insrsid1389751 they}{\insrsid7630717\charrsid6586182  think are relevant in this context.
\par 
\par }{\b\insrsid7630717\charrsid6586182 Conclusions on ACCC co-operation}{\b\insrsid1389751 
\par }{\insrsid11957584\charrsid6586182 I have been very impressed at the ACCC\rquote s history of }{\insrsid11016816\charrsid6586182 
resisting, and resisting very strongly, attempts by third parties to obtain information in relation to leniency and related matters is well known. As a practitioner I have been }{\insrsid11957584\charrsid6586182 impressed}{
\insrsid11016816\charrsid6586182  by the ACCC\rquote s resistance to any claims for access and }{\insrsid11957584\charrsid6586182 this was not only by third parties but also Government agencies. I}{\insrsid11016816\charrsid6586182 
ts fierce determination to protect the confidentiality of information provided to it}{\insrsid11957584\charrsid6586182  has also been impressive}{\insrsid11016816\charrsid6586182 . I assume that other regulators operate under the same pri
nciples. However, as noted earlier, some of our judges }{\insrsid11957584\charrsid6586182 have been}{\insrsid11016816\charrsid6586182  a little more }{\insrsid11957584\charrsid6586182 \'93}{\insrsid11016816\charrsid6586182 liberal}{
\insrsid11957584\charrsid6586182 \'94}{\insrsid11016816\charrsid6586182  in allowing access to relevant information which can be used in follow-on suits.
\par }\pard\plain \s93\qj \li0\ri0\sa120\sl360\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid5996519 \fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\b\f1\insrsid11016816\charrsid6586182 Formal international co-operation
}{\f1\insrsid11016816\charrsid6586182 
\par }{\insrsid11016816\charrsid6586182 It may be useful to ensure that where the adviser is
 aware that his or her client is formerly seeking leniency or similar arrangements with a number of regulators, to negotiate arrangements to ensure that the regulators can work together not only in the context of any treaties that might operate, but in th
e context of protocols that may be developed involving both regulators and the third party. So, for example, I have been involved in matters where arrangements have been put in place o}{\insrsid7686267 f}{\insrsid11016816\charrsid6586182 
 an informal nature between our client, and }{\insrsid7686267 the }{\insrsid11016816\charrsid6586182 regulators both in Austr
alia and in other countries to ensure that the relevant arrangements are dealt with in the most efficient and effective manner. The willingness of regulators to co-operate in these matters}{\insrsid11957584\charrsid6586182  has been impressive }{
\insrsid11016816\charrsid6586182  I can speak highly of both the ACCC and the New Zealand Commerce Commission }{\insrsid11957584\charrsid6586182 which have tried to co-operate wherever possible.}{\insrsid11016816\charrsid6586182 .
\par }{\b\f1\insrsid11016816\charrsid6586182 Conclusions}{\f1\insrsid11016816\charrsid6586182 
\par }{\insrsid11016816\charrsid6586182 This is a brave new world for Australian }{\insrsid11957584\charrsid6586182 p}{\insrsid11016816\charrsid6586182 ractitioners and for their c}{\insrsid11957584\charrsid6586182 lients}{\insrsid11016816\charrsid6586182 
. When criminal sanctions are introduced in Australia (and maybe in New Zealand as well) the arrangements that I and other practitioners have been following in this co}{\insrsid11544710\charrsid6586182 ntext }{\insrsid3955550\charrsid6586182 
will almost certainly have to be reviewed. W}{\insrsid11544710\charrsid6586182 e as practitioners should be pressing the regulators and others to ensure that leniency guidelines and sentencing guidelines a
re developed on a more formal basis so a greater certainty can exist for our clients in going forward.}{\insrsid6103964\charrsid6586182  Such certainty will be of benefit to the regulator as well as the clients.}{\insrsid11016816\charrsid6586182 
\par }{\insrsid6103964\charrsid6586182 
\par 
\par }\pard \s93\qj \li0\ri0\sa120\sl480\slmult1\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0\pararsid10289190 {\insrsid13506072\charrsid6586182 \sect }\sectd 
\binfsxn11\binsxn11\psz9\pgnrestart\linex0\headery680\footery680\endnhere\titlepg\sectlinegrid326\sectdefaultcl\sectrsid2441181\sftnbj \pard\plain \qj \li1418\ri0\sa120\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin1418\itap0\pararsid868800 
\fs24\lang3081\langfe1033\cgrid\langnp3081\langfenp1033 {\b\f1\insrsid868800\charrsid6586182 ANNEXURE A: APPLICABLE TREATIES OR INTERNATIONAL AGREEMENTS
\par }{\b\f1\insrsid14036638\charrsid6586182 T}{\b\f1\insrsid868800\charrsid6586182 rilateral }{\b\f1\insrsid14036638\charrsid6586182 C}{\b\f1\insrsid868800\charrsid6586182 o-}{\b\f1\insrsid14036638\charrsid6586182 O}{\b\f1\insrsid868800\charrsid6586182 
peration }{\b\f1\insrsid14036638\charrsid6586182 A}{\b\f1\insrsid868800\charrsid6586182 greements:}{\insrsid868800\charrsid6586182 
\par }\pard \ql \li2127\ri0\sa120\widctlpar\aspalpha\aspnum\faauto\adjustright\rin0\lin2127\itap0\pararsid868800 {\b\insrsid14036638\charrsid6586182 Australia, }{\b\insrsid12270992\charrsid6586182 New Zealand and Taiwan.}{\insrsid868800\charrsid6586182  }{
\insrsid12270992\charrsid6586182 \line }{\i\insrsid868800\charrsid6586182 
Cooperation Arrangement Between the Australian Competition and Consumer Commission, the New Zealand Commerce Commission and the Taiwan Fair Trade Commission Regarding the Application of Competition and Fa}{\i\insrsid12270992\charrsid6586182 
ir Trading Laws}{\insrsid12270992\charrsid6586182 . \line 30 July  2002. (}{\insrsid12270992\charrsid6586182 h}{\insrsid868800\charrsid6586182 ttp://www.accc.gov.au/content/index.phtml/itemId/255435#h2_73}{\insrsid12270992\charrsid6586182 )}{
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