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.
The ACCC investigated National Mutual Health Pty Ltd trading as HBA, in relation to television advertising. The advertisements of concern were broadcast in Victoria during April and early May 2000. The advertisements of concern depicted the same scenario; one of 30 seconds duration and the other of 15 seconds duration.
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.