Legislative program update

By Bruce Lloyd.

Key Points:

The Government has released a list of proposed trade practices related legislation for potential introduction into the Parliament in 2007.

Trade Practices Amendment (2007 Measures No. 1) Bill and Federal Court Amendment (Criminal Jurisdiction) Bill

• implements recommendations from the Dawson Review to introduce criminal penalties for serious cartel conduct;
• allows the Federal Court to effectively exercise indictable criminal jurisdiction to be conferred by the proposed amendments to the Trade Practices Act that will introduce criminal penalties for serious cartel conduct.

Trade Practices Amendment Bill (No. 1)

• amends the National Access Regime to give effect to certain provisions of COAG’s Competition and Infrastructure Reform Agreement: to limit merits review to the information submitted to the regulator; and to introduce binding time-limits for regulatory decisions.

Trade Practices Legislation Amendment Bill (No. 1)

• implements the government’s response to the Senate inquiry into "The Effectiveness of the Trade Practices Act 1974 in Protecting Small Business", and is expected to include changes to sections 46 (misuse of market power) and 51AC (unconscionability);
• provides for an additional Deputy Chairperson for the Australian Competition and Consumer Commission.

Trade Practices Legislation Amendment Bill (No. 3)

• amends section 53C of the Trade Practices Act, and section 12DD of the ASIC Act, requiring single total price disclosure (if ascertainable) where component pricing is used.

For further information, please contact Bruce Lloyd.