On 20 December 2017, the then Treasurer issued a new direction to the ACCC to monitor the prices, costs and profits relating to the supply of petroleum products and related services. This is the second industry report under the new direction.
Important reforms to section 46 of the Act took effect on 6 November 2017. Under these reforms a firm with a substantial degree of market power is prohibited from engaging in conduct that has the purpose, effect or likely effect of substantially lessening competition in a market.
These interim guidelines sets out how the ACCC proposes to interpret s. 46 and describes the general approach we will take in investigating alleged contraventions of the provision.
On 6 November 2017 important reforms to the Act took effect which prohibit parties from engaging in a concerted practice that has the purpose, effect, or likely effect of substantially lessening competition.
We have prepared guidelines on the authorisation process for non-merger conduct to help businesses and their advisers lodge applications for authorisation, and interested parties to provide submissions in response to applications.