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Competition
and Consumer Amendment (Misuse of Market Power) Bill 2014
Sponsor: Senator Xenophon
Introduced: Senate, 6 March 2014
1.93
This bill
proposes to amend the Competition and Consumer Act 2010 to provide the
Court with the power to give directions to order a corporation to reduce its
market share where the corporation has been found to have contravened sections
46(1) or 46(1AA) of the Act in relation to misuse of market power. The bill
allows the Court to direct a corporation to reduce its market share within two
years of the order being made on the application of the Australian Competition
and Consumer Commission or any other person.[1]
1.94
The bill is
accompanied by a statement of compatibility which states that it does not
engage any human rights.[2]
1.95 The
committee considers that the bill does not appear to give rise to human rights
concerns.
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