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.
This Public Compliance Commitment records our commitment across all our Australian businesses to:
- comply with the Trade Practices Act 1974, in particular Part VB of the Act;
- not engage in price exploitation in relation to the New Tax System;
- comply with the price exploitation guidelines as expanded in the commitment;
- pass on to consumers any net cost benefits realised as a result of the New Tax System changes;
- advertise and display the GST-inclusive or GST-exclusive price (as relevant for customer category) in.a way that is not misleading or deceptive; and
- ensure there is an effective compliance program in place.
Final ACCC acknowledgment
General Electric Australia has completed it’s repricing associated with the New Tax System and has met the requirements of it’s Public Compliance Commitment agreement with the ACCC.