Waratah Towage Ltd - s.87B undertaking

Undertaking relates to the share and asset acquisition agreement between Waratah and the vendors all issued shares in Hunter Towage Services, and the purchase of the tug "Ballina" from BHP Transport. The ACCC will not intervene in the acquisition if Waratah agrees not to: increase tariff rates for harbour services beyond a specified amount; maintain discounts/rebates existing at Dec 1998; not introduce new charges re towage services; not increase existing charges re towage services. Waratah will provide ACCC with an annual audit report by an auditor nominated by the ACCC.