Federal Register of Legislation - Australian Government

Primary content

A Bill for an Act to amend the Competition and Consumer Act 2010, and for related purposes
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Registered 07 Mar 2014
Introduced Senate 06 Mar 2014
Table of contents.

2013‑2014

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

 

Presented and read a first time

 

 

 

 

Competition and Consumer Amendment (Misuse of Market Power) Bill 2014

 

No.      , 2014

 

(Senator Xenophon)

 

 

 

A Bill for an Act to amend the Competition and Consumer Act 2010, and for related purposes

  

  


Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedule(s)......................................................................................... 2

Schedule 1—Competition and Consumer Act 2010                                          3

 

 


A Bill for an Act to amend the Competition and Consumer Act 2010, and for related purposes

The Parliament of Australia enacts:

1  Short title

                   This Act may be cited as the Competition and Consumer Amendment (Misuse of Market Power) Act 2014.

2  Commencement

                   This Act commences on the day after this Act receives the Royal Assent.

3  Schedule(s)

                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1Competition and Consumer Act 2010

  

1  After section 80AC

Insert:

80AD  Divestiture where contravention of section 46

Circumstances when this section applies

             (1)  This section applies if the Court finds, or has in another proceeding instituted under this Part found:

                     (a)  that a corporation that has, or is taken to have, a substantial degree of power in a market has contravened subsection 46(1); or

                     (b)  that a corporation that has a substantial share of a market has contravened subsection 46(1AA).

Reduction of corporation’s market power

             (2)  The Court may, on the application of the Commission or any other person, by order, give directions for the purpose of securing, within 2 years of the order being made, a reduction in the corporation’s power in, or share of, the market.

When application must be made

             (3)  An application under subsection (2) may be made at any time within 3 years after the date on which the contravention occurred.

Order by consent

             (4)  Where an application under subsection (2) has been made, the Court may, if the Court determines it to be appropriate, make an order by consent of all the parties to the proceedings, whether or not the Court has made the findings referred to in subsection (1).

Alternative to order under subsection (2)

             (5)  Where an application is made under subsection (2) for an order to give directions for the purpose of securing a reduction in the corporation’s power in, or share of, the market, the Court may, instead of making the order, accept, upon such conditions (if any) as the Court thinks fit, an undertaking by the corporation to take particular action to reduce the corporation’s power in, or share of, the market.

Section does not limit Court’s powers.

             (6)  This section does not limit the Court’s powers under any other provision of this Act.