General Electric ("GE") worldwide is active in ensuring compliance to the laws and regulations of the jurisdictions in which the businesses operate. Our compliance with the price exploitation guidelines ("Guidelines") issued by the Australian Competition and Consumer Commission ("Commission") represents another platform in our broad compliance program within Australia.
In February 2000 the staff of Golden Miles Pty Ltd made oral representations regarding the price of properties after the implementation of the Goods and Services Tax (the GST). In summary Golden Miles Pty Ltd made oral representations that the price of specific apartments would increase by 10% because of the introduction of the GST.
The purpose of this statement is to record publicly the commitment of Estee Lauder to observe and comply with Part VB of The Trade Practices Act 1974 and not to engage in price exploitation in relation to the introduction of the new Goods and Services Tax introduced by A New Tax System (Goods and Services Tax) Act 1999.
Sydney Airports Corporation Limited ("Sydney Airports") is making a public commitment to comply with the law governing The New Tax System and with the ACCC's GST Price Exploitation Guidelines. Sydney Airports' core business is the management and operation of Sydney (Kingsford-Smith) Airport which itself comprises four business units: Aviation, Retail, Property, Commercial Trading.
The Public Compliance Commitment provided by BOC Gases Australia Ltd details the approach taken by BOC in implementing price changes under the New Tax System. BOC Gases supplies a wide range of industrial gases, specialty gases, welding & safety equipment and gas related products to a wide range of business and private consumers.
Lend Lease Corporation Limited is a major participant in the real estate investment management, property development, project management and construction industries.
