Stay off the ACCC's radar
The 2024-25 priorities are relevant for public sector entities, private businesses and consumers to understand their legal rights and obligations. They are particularly useful when businesses are keen to ensure they are doing the right thing.
In her recent address, ACCC Chair Ms Cass-Gottlieb noted that 2024 marked the 50th anniversary of the Trade Practices Act – now the Competition and Consumer Act (CCA) – and reaffirmed the ACCC's commitment to enhancing the welfare of Australian consumer:
"We recognise the importance of strong enforcement outcomes in achieving specific and general deterrence of conduct prohibited by the Act and in ensuring that consumers, business and the wider community continue to have confidence in our market economy."
The maximum pecuniary penalties for CCA contraventions by corporations increased to $50 million and to 30 per cent of a corporation's annual turnover over the period the breach occurred (whichever is greater) for certain competition law and consumer law breaches. Maximum fines for individuals who engage in anti-competitive conduct and breaches of the consumer law protections have also increased from $500,000 to $2.5 million.
It is therefore important to be familiar with these compliance and enforcement priorities and know where to seek help.
How can we help?
Our team can assist you in understanding your legal rights and obligations, staying up to date with any impending changes to the law or providing advice that may address emerging issues by:
- undertaking an annual internal review of your entities' competition compliance policies. This would include reviewing existing and anticipated arrangements to identify any risks arising from the competition and consumer sectors that have been highlighted by the ACCC above
- ongoing investigations, inquiries and market studies that the ACCC is conducting and how to properly assist the ACCC with these
- conducting regular compliance training sessions on how to properly manage and identify anti-competitive behaviour.
If you have any questions or would like to get in touch, please contact a member of our team below.
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
