In the media
ACCC highlights cartels, Indigenous consumer protection,
and agriculture in 2016 priorities
Chairman Rod Sims today announced the Australian
Competition and Consumer Commission's compliance and
enforcement priorities. In the area of competition law, the
ACCC will continue to take a strong line on cartel conduct,
anti-competitive conduct and practices, and where they can, misuse
of market power (23 February 2016).
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Retailers of Adjustable Beds and Mobility Products Fined
for Misleading Conduct
In an ACCC Media Release, it has been revealed that
retailers Clews Holdings Pty Ltd, which supplies Seniors Plus
products, and D Burnz Investments Pty Ltd (D Burnz), which supplies
Better Living Australia products, have each paid $20,400 in
penalties following the issue of two infringement notices to each
company by the ACCC (23 February 2016). More...
Airlines, taxis charging excessive credit card fees face
crackdown under new ACCC powers
The laws equip the ACCC with new powers to enforce the
ban on excessive surcharging, including the ability to gather
information from those involved in the payments process and the
authority to issue infringement notices against those engaging in
excessive surcharging (22 February 2016).
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The four contract clauses which show you're getting
screwed
The Australian Competition and Consumer Commission says
businesses need to closely review contracts in light of new laws
offering small businesses protection against unfair contracts which
were passed last week. The laws take effect on November 12, 2016,
following a 12-month transition period (18 February 2016).
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ACCC v Australian Egg Corporation Limited [2016] FCA 69:
Respondents Found Not Guilty of Alleged Cartel Conduct
In a recent decision handed down by
the Federal Court of Australia, it has been found that: Australian
Egg Corporation Limited (AECL); Farm Pride Foods Ltd (Farm Pride);
and Ironside Management Services Pty Ltd (trading as Twelve Oaks
Poultry) (Twelve Oaks Poultry) did not attempt to induce a
cartel arrangement, as alleged in proceedings brought by the
Australian Competition and Consumer Commission (ACCC) (16 February
2016). More...
Productivity Commission review into the efficiency and
competitiveness of the superannuation system
The Turnbull Government is today releasing the Terms of
Reference for the first two stages of a Productivity Commission
review into the efficiency and competitiveness of the entire
superannuation system (17 February 2016).
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Small businesses scammed out of $2.2 million: ACCC
figures
Scammers and unscrupulous businesses continue to target
small businesses with data released by the Australian Competition
and Consumer Commission today showing small businesses have been
scammed out of $2,284,798 over the last six months (16 February
2016).
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Petrol prices: ACCC asks service stations to explain
high fuel prices
The competition regulator has asked Australia's major
petrol retailers to explain their high retail margins, after its
latest report found motorists were not fully benefiting from crude
oil price falls (15 February 2016).
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ASIC permanently bans financial adviser Darren
Wise
In determining to ban Mr Wise from financial services,
ASIC also took into account misleading and deceptive conduct by Mr
Wise, involving the sale of a client's securities without their
authorisation or knowledge(15 February 2016).
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In practice and courts, published reports
Productivity Commission: review into the efficiency and
competitiveness of the superannuation system – Terms of
Reference
The Productivity Commission is tasked to (i)develop
criteria to assess the efficiency and competitiveness of the
superannuation system and (ii) develop alternative models for a
formal competitive process for allocating default fund members to
products. The PC Terms of Reference can be found on the Productivity
Commission website.
Australian Competition and Consumer
Commission: Biannual Small business in focus report
This report, the eleventh in the series, highlights some
of the ACCC's key work in the small business and franchising
sectors between 1 July and 31 December 2015. It also contains the
latest small business and franchising complaints data (16 February
2016).
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ACCC Small business in focus report
The ACCC has released its July-December 2015 Report on Small business,
franchising and industry codes. The majority of complaints
received by small business for that period relate to misleading
conduct/false representations, consumer guarantees and product
safety. Next on the list are competition issues, topped by misuse
of market power, with 262 complaints from small business (up 30 on
2014 figures), exclusive dealing, with 212 complaints received and
other competition issues generating 165 complaints.
Cases
Ambergate Limited v CMA Corporation Limited
(Administrators Appointed) [2016] FCA
94
TRADE PRACTICES – applicant alleged misleading and
deceptive conduct – applicant claimed reliance on public
statements for purchases of shares in company – applicant
claimed reliance on later public statements to retain shares in
company – public statements connected with the issuing of
shares is the provision of "financial services": section
52 of Trade Practices Act 1974 (Cth) not applicable
– section 12DA of the Australian Securities and
Investments Commission Act 2001 (Cth) applied – section
1041H of the Corporations Act 2001 (Cth) applied –
public statements made before the share purchases not misleading or
deceptive – statements after the purchases of shares
misleading and deceptive – applicant did not demonstrate it
would have sold shares – applicant did not prove a resulting
loss. More...
Legislation
Commonwealth
Competition and Consumer Amendment (Payment Surcharges)
Bill 2015
Passed the Senate 22/02/2016 The ban on excessive card
surcharging will take effect this year. If the ACCC forms the
view that a merchant has engaged in excessive surcharging, they may
issue an infringement notice including a penalty for listed
corporations of up to 600 penalty units, currently $108,000, for
each alleged contravention.
More...
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
