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Lecture Fundamentals of business law (7/e): Chapter 15 - M.L Barron

Chapter 15 - Competition law. At the end of this chapter you should understand: the background to the passing of the Competition and Consumer Act 2010 (Cwlth) (CCA) and identify those responsible for its administration, the aims of the CCA, the definition of the terms ‘market’ and ‘competition’,. | This is the prescribed textbook for your course. Available NOW at your campus bookstore! Restrictive trade practices Chapter 15 Learning objectives At the end of this chapter you should understand: the background to the passing of the Competition and Consumer Act 2010 (Cwlth) (CCA) and identify those responsible for its administration the aims of the CCA the definition of the terms ‘market’ and ‘competition’ the restrictive trade practices prohibited by the CCA process of authorisation and notification under the CCA the roles of the Australian Competition and Consumer Commission, the Australian Competition Tribunal and the Federal Court of Australia enforcement procedures and the remedies available under the CCA. Introduction Some restrictive trade practices are prohibited by the Competition and Consumer Act 2010 (Cwlth). If businesses are found to have engaged in this type of anti-competitive conduct, the CCA provides for penalties and remedies for the infringement. Objectives of Competition and Consumer Act 2010 (Cwlth) To improve industry efficiency To promote competition in the market To provide consumer protection Administration of the legislation Australian Competition and Consumer Commission (ACCC) Responsible for bringing proceedings for contravention of restrictive trade practices provisions Grants authorisations, permitting conduct that might otherwise be in breach of the CCA Research, public information and guidance role Concepts of ‘market’ and ‘competition’ Market Includes all sellers competing for the same buyers Competition A mechanism that ensures consumer needs are provided at the cheapest costs by businesses through control of the use of society’s resources. Some of the practices are prohibited outright, but most of the practices are only illegal if the purpose or effect of the practice is to substantially lessen competition. Competition can only be identified by reference to a defined market, and so the concepts of ‘market’ and ‘competition’ are | This is the prescribed textbook for your course. Available NOW at your campus bookstore! Restrictive trade practices Chapter 15 Learning objectives At the end of this chapter you should understand: the background to the passing of the Competition and Consumer Act 2010 (Cwlth) (CCA) and identify those responsible for its administration the aims of the CCA the definition of the terms ‘market’ and ‘competition’ the restrictive trade practices prohibited by the CCA process of authorisation and notification under the CCA the roles of the Australian Competition and Consumer Commission, the Australian Competition Tribunal and the Federal Court of Australia enforcement procedures and the remedies available under the CCA. Introduction Some restrictive trade practices are prohibited by the Competition and Consumer Act 2010 (Cwlth). If businesses are found to have engaged in this type of anti-competitive conduct, the CCA provides for penalties and remedies for the infringement. Objectives of .