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
The law against misuse of market power has changed. It is now easier for a corporation with market power to
breach the law.
Companies with market power now need to consider the purpose and effect of their activities on competition.
Find out more about market power
Penalties
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.
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