Who enforces competition law in Australia?

The Australian Competition and Consumer Commission (ACCC) is an independent Commonwealth statutory authority whose role is to enforce the Competition and Consumer Act 2010 and a range of additional legislation, promoting competition, fair trading and regulating national infrastructure for the benefit of all Australians …

What is a civil penalty Australia?

A civil penalty is a pecuniary penalty imposed by the court in civil proceedings (as distinct from a fine in criminal proceedings). In matters involving Commonwealth agencies, the penalty is usually payable to the Commonwealth.

What is the Australian Competition Law?

Australian competition law regulates how companies and people do business in Australia. The governing legislation is the Competition and Consumer Act 2010 (Cth) (Act), which contains rules proscribing certain anti-competitive conduct between competitors, suppliers and customers.

WHO is concerned by competition law?

The FTC’s competition mission is to enforce the rules of the competitive marketplace — the antitrust laws. These laws promote vigorous competition and protect consumers from anticompetitive mergers and business practices.

What is the maximum penalty for false or misleading conduct?

$500, 000
The maximum penalty for each offence is $500, 000 for an individual. Body corporates can be charged whichever is greater: $10 million, or. three times the value of the benefit received, or.

What are some of the consequences and fines of breaching the Competition and Consumer Act 2010?

The maximum penalties per breach of the ACL including unconscionable conduct, making false or misleading representations, and supplying consumer goods or certain services that do not comply with safety standards or which are banned: For corporations, will be the greater of: $10 000 000.

What are three possible consequences of breaching a mandatory code of conduct?

12.96 Under the Public Service Act, an agency head may impose one of the following penalties for a breach of the Code of Conduct: termination of employment; reduction in classification; re-assignment of duties; reduction in salary; deductions from salary, by way of fine, which is not to exceed 2% of the APS employee’s …

What is the difference between a civil penalty and a fine?

A parking ticket is an example of a civil penalty in that a fine is charged. A civil penalty is a monetary fine that is designed to compensate for harm. It is distinct from a criminal penalty, since its purpose is not designed to punish the person who the penalty is imposed on.

What does competition law prohibit?

Competition law – an introduction It bans anti- competitive agreements between firms such as agreements to fix prices or to carve up markets, and it makes it illegal for businesses to abuse a dominant market position.

What is the point of competition law?

The purpose of competition law is ensuring a fair marketplace for consumers and producers by prohibiting unethical practices designed to garner greater market share than what could be realized through honest competition.