Introduction
In order for meeting the competition from other countries and companies, it is need for the Australia to have a super regulator, who can control and co-ordinate different activities, while analysing the economic performance of the country we can able to growth, but not in high rate. Most of the companies and other agencies are considered Australia as a land of opportunities. According to the report of Australian Institute of Criminology and the Australian National University, states the country is facing serious issues such as, Illicit Money Laundering and problems in the federal system, and ineffective policies taken by the companies. One of the main reason, in which the country is not performing, it is because of the lack strong
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In the case of Australian Competition and Consumer Commission, mainly focused in to the protection of small business groups in Australia, from the predatory pricing strategy and the ACCC have a support of law Trade Practices Act 1974. But the issues is concerned with the power of ACCC to make changes in the policy of anti-competitive behaviour, according to ACCC, they are so many companies who are using the market power in the negative way, so it has to be reduced with the support of law and other agreements, but still ACCC not received any positive sign from the court and government. And in the case of Australian Competition and Consumer Commission (Samuel 2004), they are also facing serious issues with legislative responsibilities. Every organization has the responsibility to disclose the financial matters to the consumers in the accurate and reliable way, but the power of Australian Competition and Consumer Commission to implement and force the companies to perform the function, is not granted in a proper way. On other hand, Australian Prudential Regulation Authority, they are facing the issues with related to the lack of manpower to solve the legal issues (Bailey 2003), and taking actions for protecting the companies from financial losses in an effective way (Moullakis et al 2004). Australian Prudential Regulation Authority failed in different times to protect the companies from the structural issues and financial
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
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.
The Australian Consumer Law (ACL) was established to protect consumers in any legal trading activities in Australia. A set of guarantees has also been introduced for those consumers who are acquiring goods and services from Australian suppliers, importers or manufacturers. The guarantees are intended to ensure that consumers will receive the goods or services they have paid for. If they have problems with the products and services they bought, they are entitled for remedies, such as repair, replacement, and refund.
The principle of the separation of powers is that, in order to prevent oppressive government, the three powers of government should be held by separate bodies—the Legislature, Executive and Judiciary—which can act as checks and balances on each other. (Locke, 1690) Australia’s system of separation of powers (SOP) is a hybrid of the UK Westminster system of government and the American federal and constitutional features of government. This system of government was chosen because they provide essential philosophical and theoretical bases for which separation is essential and although this system incorporates the best aspects of the UK and US systems, many crossovers have been incorporated as a result. Consequently this shows vulnerability in the Australian federal and state system exposing it to exploitation, and mistreatment.
"Australia." Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. N.p., n.d. Web. 2 Dec. 2013. .
When you think of the “land down under” you don’t really think of the kind of government they have. I chose to write about the Australian government because I really don’t hear much about Australia. It currently has a pretty interesting story to tell when it comes to their government. I became a bit interested in Australian politics when I saw a political animated cartoon on the internet that depicted Kevin Rudd, the last Prime Minister, on a news television show and it was quite humorous. I am going to give a quick history lesson on Australia then go into how the government formed and came to be. Then I will talk about the Australian constitution, the Australian arms of government, their federal system, political parties and Australia’s current Prime Minister.
Key players and their roles… Decisions about FP are made by the executive and the bureaucracy making it incompatible with the democracy that Australia is. The government can dominate foreign policy in a way that it cannot dominate domestic policy.
The decision for Australia to adopt the Federal system was on the principle of which the State’s governments wanted to keep their power. For this reason there was the separation of powers between the newly formed Commonwealth government and the existing State governments. At a constitutional level, there are rulings in which the powers are separated, these rulings due to disputes have slightly changed since 1901. These changes all fell towards the one government, the Commonwealth (Federal) government. However this was not just a landslide event, the Constitution of Australia set up this imbalance of powers between the Commonwealth and State governments. We will explore this further in the points discussed later in this essay.
Australia has had one of the most outstanding economies of the world in recent years - competitive, open and vibrant. The nation’s high economic performance stems from effective economic management and ongoing structural reform. Australia has a competitive and dynamic private sector and a skilled, flexible workforce. It also has a comprehensive economic policy framework in place. The economy is globally competitive and remains an attractive destination for investment. Australia has a sound, stable and modern institutional structure that provides certainty to businesses. For long time, Australia is a stable democratic country with strong growth, low inflation and low interest rate.(Ning)
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.
Bibliography: Turnbull, S. (1997). Corporate governance: its scope, concerns and theories. Corporate Governance: An International Review, 5 (4), pp. 180--205.
...ur; in such cases, competition authorities must act to fight unlawful practices that are detrimental for the economic welfare.
... organizational structure that needs to be maintained for its operations in Australia. As the suggestion has been of total ownership thus span of control is needed and these factors have been discussed in this report to illustrate how effective the organization can be in Australia.