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ARTICLE · 27 OCTOBER 2017

Significant Reforms To Australian Competition Law Are About To Commence

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The most significant changes to Australia's competition law in over 40 years will take effect in the coming weeks.

AustraliaAntitrust/Competition Law
Lynsey Edgar
Lynsey Edgar
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The most significant changes to Australia's competition law in over 40 years will take effect in the coming weeks.

Background to the changes

  • In 2013, Tony Abbott announced a 'root and branch' review of competition policy, the first in more than 20 years.
  • A panel, led by Professor Ian Harper, produced its report on competition policy in 2015.
  • The government subsequently agreed that most of Harper's recommendations be adopted.
  • This week, amendments to Australia's competition laws passed Parliament.
  • The Treasurer has stated that the new laws will come into effect 'in the coming weeks'.

Key changes

Misuse of Market Power

  • New law: The new prohibition on misuse of market power prevents a firm with substantial market power from engaging in conduct that has the purpose or likely effect of substantially lessening competition in any market in which the company supplies or acquires goods or services.

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