The Australian Competition and Consumer Commission and the New Regime

Abstract

The Australian Competition and Consumer Commission (ACCC) is the national regulator in the new competition regime. It acts as the public guardian against anti‐competitive or unfair business activities. The ACCC's task is to promote competition where it is limited; to preserve competition where it is effective; and to safeguard the position of consumers in their dealings with business. Its efforts are directed primarily at fostering business compliance with the national competition and consumer law, the Trade Practices Act 1974. The commission tries to persuade, coax or cajole businesses into pursuing their interests within the legally defined boundaries of fair competition. Where that proves insufficient, the commission becomes the enforcer. The ACCC can coerce businesses — through court orders and penalties — into rectifying their behaviour where they operate outside the boundaries of the law. It also has the capacity to hold businesses publicly accountable for the prices they set. Underlying these ACCC functions is an ulterior objective: to enhance the material welfare of Australians by promoting, wherever practical, a more competitive and efficient economy.