Antitrust Law Daily Wrap Up, ANTITRUST NEWS: ACCC supports recommendations of Competition Policy Review Panel, (Mar 31, 2015)

By Greg Hammond, J.D.

The Australian Competition and Consumer Commission (ACCC) welcomed today the release of the Competition Policy Review Panel’s final report, which sets forth pro-competitive reforms that could significantly enhance economic productivity.

“The Panel’s recommendations to expose more sectors of the Australian economy to competition show the considerable scope for reform,” stated ACCC Chairman Rod Sims. “The ACCC particularly supports the Report’s findings on roads, shipping, intellectual property and parallel imports.”

Chairman Sims also noted that the ACCC supports proposals to render the misuse of market power provision workable, to create a prohibition on concerted practices, to improve merger assessment processes, and to simplify the Act, making it easier for businesses to understand their obligations under the Competition and Consumer Act 2010.

The Chairman raised areas of concern, however, noting that the changes should not weaken Australia’s cartel laws, and that some changes require further consideration of finer details.

“While the report’s recognition of the need for continuing advocacy in support of competition and the need for a market studies power is pleasing, we need to further consider why we do not follow the approaches being taken to these issues in other countries where they are functions of the competition regulator,” Sims said.

News: Antitrust