A business guide to avoiding becoming involved in, or a victim of, cartel behaviour has been launched by the Australian Competition and Consumer Commission Chairman, Mr Graeme Samuel, in Melbourne today.
Speaking to the American Chamber of Commerce, Mr Samuel said Cartels: what you need to know "will be of great interest to every business in the country ahead of the new regime of criminal sanctions and massively increased fines.
"It's also a document which should leave business in no doubt about the determination of the ACCC to do all we can to eradicate the bid-rigging, price-fixing and market sharing which is a cancer on our economy.
"The ACCC has had a number of successes against cartels, and whilst this is pleasing, we would much prefer that businesses and executives comply with the law in the first place".
The publication will help businesses to understand their rights and obligations in regard to the Trade Practices Act 1974 and cartel conduct. In particular, it provides information about:
- the behaviour that constitutes a cartel;
- how to avoid becoming the victim of a cartel;
- what to do if you suspect you are the victim of a cartel;
- the penalties attached to cartel conduct; and
- the ACCC's leniency policy for cartel conduct.
"Businesses should read the publication and put its advice into action to ensure your business doesn't become a victim of this behaviour, or a perpetrator".
The ACCC also intends to publish cartel information packages specifically targeted at small businesses and consumers.