Penalties and remedies
No law is workable unless there is a means to ensure that firms and individuals comply with it. This role principally rests with a national independent statutory agency, the ACCC. The ACCC is responsible for educating businesses and the public about their rights and obligations under the law; investigating possible breaches of the law; and taking enforcement action if necessary to deal with those breaches.
Australia's competition laws include a comprehensive range of penalties and remedies. This is designed to:
- encourage compliance with the law
- provide the ACCC with the ability to effectively enforce the law
- allow private action to be taken to require compliance with the law and to recover loss caused by illegal conduct.