The collusion of two or more corporations can result in anti-competitive conduct. This occurs when two usual competitors fix the price of their goods or services by forming a ‘contract, arrangement or understanding’. This is ‘horizontal’ coordinated conduct, meaning that retail competition between two corporations for the same goods or service is eliminated. The consumer subsequently suffers as a result of having to pay higher retail prices for those particular goods or services.
To achieve and regulate consumer protection, fair trade and competition within Australia, the Competition and Consumer Act 2010 (Cth) (“CCA”) implements consumer safeguards by governing the relationship between retailers, suppliers and consumers. This promotes a healthy and stable
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These provisions protect consumers and fair trade in Australia by acting as a firm of deterrence.
4. Conclusion
The CCA endeavours to protect the welfare of Australians through the regulation of competition. The provisions set forth in Part IV Div I protect by imposing high monetary penalties in order to deter corporations from engaging in anti-competitive conduct.
To achieve a well-balanced and healthy economy that encourages both fair competition and consumer protections, the corporation and the consumer must be aware of the relevant market they are trading in to ensure they do not breach any legislative provisions.
PART TWO
5. Australian Competition and Consumer Commission v Visy Holdings Pty Ltd (No 3)
The decision in Australian Competition and Consumer Commission v Visy Holdings Pty Ltd (No 3) [2007] FCA 1617 (“Visy Case”) was an important and defining case concerning cartel prohibitions in Australia, changing anti-competitive conduct sentencing precedents.
5.1 Background of the Visy
The role of law reform has responded rather effectively to a certain extent in protecting the rights of consumers. This is evident in the legal responses introduced to address issues of credit, marketing innovation and technology. These law amendments has effectively increase the protection of the rights of consumers to a certain extent, however loopholes still exist. Due to the increasing range of goods and services continues to grow and the failure of existing laws, the role of law reform has been significant in protecting the rights of consumers. Consumer laws were created to prevent deceitful activities, or unfair business practices, as well as serving a protection for weaker parties who are unable to protect themselves. However, laws were later reformed to enable customers to transact with confidence and protect suppliers, consumers from inappropriate business conduct and to reflect changed community values and circumstances.
Corporations functioning within the jurisdiction of the Australian Commonwealth are governed and regulated by the provisions of the Corporations Act, 2001. Common law principles developed through judicial
In the case of Woolworths and Coles, both businesses are being investigated by the Australian Competition and Consumer Commission (ACCC) for abusing their market power by intimidating suppliers to reduce the price of products so they can buy them for cheap. Due to Woolworths and Coles
“Processor Editorial Article - Antitrust Laws: Not Just For The Big Boys.” Editorial.Processor 19 Nov. 2004: 27+. Processor.com. Web. 29 Nov. 2011 .
- Helps decreases inflammation in the body, which helps to prevent diseases, build a strong immune system, and treat current disease
Apart from Antitrust laws, there are several other laws that promote fair business practices. The Robinson-Patman Act prohibits price discrimination. This act ...
This essay will examine key aspects of the recent implementation of the Australian Consumer Law (ACL) 2011, which is the largest overhaul in Consumer Law in Australia in the past twenty five years. The ACL replaces 20 existing State and Territory laws into one national law , the legislation was enacted in two main parts as Schedule 2 of the renamed Trade Practices Act 1974 (Cth) (TPA) - Competition and Consumer Act 2010 (Cth) (CCA) . Aforementioned this essay it will outline the key benefits of the implementation of the act. Furthermore it will critique the Act, whilst exploring the objectives of the legislation.
Anti-trust laws are laws which prohibit anti-competitive behavior and unfair business practices. Their purpose is to make sure that businesses and consumers cannot be abused by powerful firms that hold or wish to hold a monopoly in the market. They also take into account certain ethical standards, and therefore can be considered quite subjective. Many specific strategies are outlawed by anti-trust laws, including price fixing (agreement on prices of uniform goods or services), predatory pricing (setting a low price in order to knock off competitors), and vendor lock-in (virtually forcing a consumer to buy from a certain supplier).
them with oxygen, give them a larger physical stoicism, tend to relieve us from being a nervous, dyspeptic set,
Sport has consistently grown and influenced society for hundreds of years. As is the case in many countries around the world, in Australia sport has proved to be a useful tool to promote social integration and build national identities. As a developed country with a structured political and economic system, sport organizations began to develop with the support of the Australian government in funding and infrastructure. Prior to British colonization, Aboriginals were the first to inhabit Australia instituting athletic events based on survival tasks. The environment in which they lived required a high level of physical ability in order to survive. The growth of sport in Australia is notably due to several significant sports moments that have influenced the country’s craving for more sports and high demand for success. The structure of Australian sports organizations help to develop high level of national pride. Track and Field has been one of the most tenured sports in Australia and has assisted in shaping the country’s sports culture. Australia has a long history of sport with a great deal support and success both in international competition and in the growth of domestic sport organizations.
Competition law in the European Union has developed from being an uncertain preoccupation of a few economists, lawyers and officials to one of the leading competition law system in the globe. Nonetheless, in agreement with most commentators, there are inherent flaws within the EU Commission’s procedures. This paper aims to provide an account of concerns in the current system, drawing comments from scholars and EU officials in order to demonstrate both benefits and shortcomings of the system. An overview of the legal and policy debate of the current EU Competition enforcement will be presented as the introduction. Policy concerns such as prosecutorial bias and self-incrimination in enforcement powers will be the main subjects for the purpose of this paper, followed by analysis of the EU commission structure, in particular checks and balances and the hearing process, both of which have been claimed being incompatible with the ECHR. A comparison with the US Antitrust system will also be paralleled through out this essay in order to demonstrate a clearer examination. This essay will conclude with the Commission’s flaws that have effected on the upcoming UK competition law reforms.
When people think of predatory pricing, two main laws come to the minds of most...
The competition and consumer act aims to discourage price discrimination in the business environment if the discrimination could substantially reduce competition. An example of price discrimination would be Apple with the distribution of IPhone 5c around the world, the prices vary from $500-$1,500(local currency). The IPhone 5c is less-profitable for Apple but still the price range has a big gap e.g., in Singapore the iPhone costs $948, but in the UK it costs $529 . There are three types of price discrimination (first degree, second degree and third degree) and they all discriminate differently. The price discrimination in business will increase revenue, they will attract more consumers and will enable companies to stay in business. The consequences for price discrimination is that the manufacture/business will get sued by consumers for price discrimination especially when paying higher prices, decline in consumer surplus, there may be administrative costs of separating the markets etc. However, Price discrimination has a lot of impacts on consumers and business owner 's around the world but most importantly it affects people that have been discriminated over the price for the same
A non competition agreement in an employment contract is a contract between the employee and employer that says the employee cannot work for competitors of the employer for a certain amount of time after the employee has left the company. The best way to determine if the courts have something enforceable is with this question, does the “agreement reasonably balance the employer’s legitimate business interests with the employee’s freedom to choose his or her employment” (Fryberger). These agreements are here to protect the employer’s confidential information and most importantly, the entirety of the business. These non competition agreements help keep the employer in business, but there are certain circumstances that the courts will not enforce these agreements, such as if the agreement is too unreasonable and does not allow the individual to make a living, this could mean the duration of time they are restricted for and/or restrictions on where they can’t work in that geographic
...ur; in such cases, competition authorities must act to fight unlawful practices that are detrimental for the economic welfare.