Thursday, March 8, 2012
Posted by D. Daniel Sokol
Bill Dee (Compliance and Complaints Advisory Service) explains The Australian Approach to Competition Law Compliance Programs. ABSTRACT: Competition law in Australia is set out in the Competition and Consumer Act 2010 which essentially picked up the competition law provisions of its precursor legislation, the Trade Practice Act 1974.
The enforcement agency in Australia is the Australian Competition and Consumer Commission ("ACCC"), which argues the case for a breach of the competition law in the Australian Federal Court. The Court determines whether a breach has been established and, when it has, determines the appropriate penalty. These are the two players, then, when it comes to compliance law and the role of compliance programs.