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ARTICLE · 22 JULY 2009

Joint Ventures And The New Cartel Laws

Norton Rose Fulbright Australia
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This Friday 24 July 2009, will see significant amendments to the Trade Practices Act come into effect that re-write the rules for many joint ventures and other arrangements between competitors.

AustraliaAntitrust/Competition Law
Calum Henderson
Calum Henderson
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This Friday 24 July 2009, will see significant amendments to the Trade Practices Act come into effect that re-write the rules for many joint ventures and other arrangements between competitors. With criminal prosecutions and possible prison sentences at stake, all corporate counsel and senior managers should familiarise themselves with these changes.

In short, the new cartel legislation provides that any arrangement between competitors that has the purpose or effect of fixing prices (for sales or purchases), sharing markets, controlling output and co-operating on bids is a criminal offence. Even where the necessary intent is absent, severe civil penalties may still be imposed on companies and individuals.

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