Those who breach Australia's competition and consumer
protection laws face serious consequences. In addition to damaging
their reputation and 'brand', a breach of the laws can mean
significant fines and other financial liability for those involved.
If you intentionally participate in price fixing or other cartel
type behaviour with your competitors, you can even be sent to
jail.
It's not just the 'big end of town' that needs to
consider how these laws will affect them. Landlords, shopping
centre owners and property developers - indeed, anyone involved in
the property industry - need to understand the legal boundaries
within which they must operate.
The Competition and Consumer Act 2010 (formerly the
Trade Practices Act 1974) contains a number of
prohibitions on anti-competitive behaviour, misleading conduct and
unfair conduct. Here, special counsel Brett Bolton explains what
these prohibitions mean and why you need to be aware of them.
