Competition law now includes a new prohibition against concerted practices. Concerted practices are not defined in the law but the ACCC says it includes many types of information sharing, including:
- through a third party
- where there is no obligation to use the information
- ‘one way’ communications
- between parties who are not competitors
Find out more about concerted practices
For corporations it is the greater of $10 million or 3 x the value of the benefit. For individuals it is $500,000 per contravention.