Competition as the regulator

R M Bannerman

University of New South Wales Law Journal

R M Bannerman, ‘Competition as the regulator’ (1982) 5 University of New South Wales Law Journal 61

Abstract

This article examines the role and policy of the Trade Practices Act 1974 (Cth) in dealing with competition and the market place. The author argues that the thrust of the Act is not in fact regulatory but deregulatory. The Act is there to see that competitive forces are allowed free play and are not hindered by restrictive practices, collusive agreements between competitors and other such obstacles. Both the restrictive trade practices provisions and the consumer protection provisions of the Act merely provide a framework within which competition is to operate. The author argues that it is competition, rather than the Trade Practices Act, which regulates the market place. The author also submits that self-regulation deserves encouragement as it serves competition, is flexible to industry and consumer demands, increases efficiency and limits the need for official involvement and public expense.