Competition and Consumer Act 2010

Anti-competitive price signalling and information disclosures

The new provisions in the Competition and Consumer Act 2010 initially apply only to the banking sector, and only in relation to the taking of money on deposit and making advances of money or loans.

Anti-competitive conduct

Section 45 of the Competition and Consumer Act prohibits contracts, arrangements, understandings or concerted practices that have the purpose, effect or likely effect of substantially lessening competition in a market, even if that conduct does not meet the stricter definitions of other anti-competitive conduct such as cartels.

Fees & forms

Your application for authorisation or notification should be in a form approved by the ACCC and accompanied by the relevant fee unless a waiver is in place.

Exclusive dealing

Broadly speaking, exclusive dealing occurs when one person trading with another imposes some restrictions on the other’s freedom to choose with whom, in what, or where they deal. Exclusive dealing is against the law only when it substantially lessens competition.

Legislation

The ACCC is an independent statutory authority that enforces the Competition and Consumer Act 2010 (previously the Trade Practices Act 1974) and other legislation.