Misuse of market power law to be amended
The Australian Government has announced it plans to amend the misuse of market power provision (section 46) in the Competition and Consumer Act 2010 later this year.
The Harper Review into competition policy found Australia’s current misuse of market power provision is not reliably enforceable and permits anti-competitive conduct. The planned amendment, as recommended by the Review panel, will mean that businesses with substantial market power will be prevented from engaging in behaviour that harms the competitive process.
An effective misuse of market power provision is an important and necessary part of competition law, particularly for Australia’s more than two million small businesses which make up more than 97 per cent of all businesses.
For more information, read the joint media statement on the Prime Minister’s website: www.pm.gov.au.
New Australian Small Business & Family Enterprise Ombudsman Office now open for business
Ms Kate Carnell AO was recently appointed to the position of ASBFEO for a five-year period and has said she’s hoping to be a very strong advocate for the sector and to work closely with industry associations, small business and family enterprise.
The ASBFEO will be a:
- Commonwealth advocate for small businesses and family enterprises
- concierge for dispute resolution and mediation services for businesses, including franchises
- contributor to the development of small business Commonwealth laws and regulations.
For more information, visit the new ASBFEO website: www.asbfeo.gov.au.