The legislative framework and competition policy in Australia

Allan Fels AO

Antitrust Chronicle

Allan Fels AO, ‘The legislative framework and competition policy in Australia’ (24 August 2022) Antitrust Chronicle

Abstract

This article reviews the legislative framework which underlies Australian competition law and policy. First, the Australian Constitution plays a key although often unrecognized role in preventing interstate restrictions on competition. Second, Australia’s famed National Competition Policy which comprehensively reviewed and removed unnecessary legislative and other government restrictions on competition over a ten-year period from the mid-1990s is now largely dormant. Third, Australia’s Competition and Consumer Act 2010 continues to provide a sound framework for the application of competition and consumer law but requires improvement including the introduction of a divestiture power, greater simplicity, the introduction of compulsory pre-merger notification and, in light of court interpretations of the merger law, a refinement of its statutory provisions.