The Australian Competition and Consumer Commission has issued the fourth edition of the Summary of the Trade Practices Act 1974 which incorporates the 26 July 2001 amendments to the Act.
This publication is a plain language description of the provisions of the Act and other legislation under which the ACCC has powers and responsibilities.
The objective of the Act, as set out in the legislation, is to enhance the welfare of Australians through the promotion of competition and fair trading and providing for consumer protection.
“The Summary sets out, in plain English, what the ACCC’s function is”, Acting ACCC Chairman, Mr Rod Shogren, said today.
“It can be used by readers to gain a general understanding of the Act, but it is not intended to be used instead of the legislation itself”.
The Summary also sets out the additional responsibilities of the ACCC under other legislation.
Copies of the Summary of the Trade Practices Act 1974 can be obtained through the Publishing Unit of the ACCC for $10.