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David Jones is committed to complying with the Trade Practices Act 1974, including new legislation enacted by the Commonwealth Government to prevent business from exploiting the tax reform process to increase profits (Part VB of the Trade Practices Act 1974 - Price Exploitation in relation to A New Tax System).
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 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.