Competition and Consumer Amendment (Competition Policy Review) Commencement Proclamation 2017

Overview

The Competition and Consumer Amendment (Competition Policy Review) Commencement Proclamation 2017 was enacted to address a need for updated and modernised competition laws to better serve the evolving economic environment in Australia. This proclamation was introduced by the Commonwealth Parliament and serves to initiate the commencement of the Competition and Consumer Amendment (Competition Policy Review) Act 2017. The policy objective of this legislation is to enhance the efficiency and effectiveness of Australia's competition policy framework by implementing recommendations from the Competition Policy Review, thereby fostering a more competitive market and protecting consumer interests. The proclamation was issued by the Honourable Sir Peter Cosgrove AK MC (Ret’d), the Governor-General of the Commonwealth of Australia, under the authority of the Federal Executive Council, and officially commenced on 6 November 2017.

Scope and Application

The Competition and Consumer Amendment (Competition Policy Review) Commencement Proclamation 2017, which was issued under the authority of the Competition and Consumer Amendment (Competition Policy Review) Act 2017, specifies the commencement date of certain amendments to the Competition and Consumer Act 2010. The Proclamation applies to the entire Commonwealth of Australia and affects a broad range of entities, including businesses, corporations, and individuals engaged in commercial activities. It sets 6 November 2017 as the effective date for the implementation of the legislative changes outlined in Schedule 1 to the 2017 Act. These changes are intended to enhance competition policy and consumer protection measures across various industries. The Proclamation does not specify exclusions or exemptions, but the detailed provisions of the 2017 Act and its Schedule provide clarity on the scope of the amendments, which are designed to apply broadly while allowing for specific regulatory adjustments through subordinate instruments.

Key Provisions

The Competition and Consumer Amendment (Competition Policy Review) Commencement Proclamation 2017 (No. 1) sets out the commencement date for the Competition and Consumer Amendment (Competition Policy Review) Act 2017, which is 6 November 2017. This date applies to Schedule 1 of the Act, which likely includes key provisions aimed at enhancing competition and consumer protection in Australia. The proclamation is issued by the Honourable Sir Peter Cosgrove, the Governor-General, with the advice of the Federal Executive Council and under the authority provided by the Competition and Consumer Amendment (Competition Policy Review) Act 2017. The Act imposes various obligations on entities and parties it governs, primarily aimed at ensuring fair competition and protecting consumers. These obligations may include requirements for businesses to adhere to specific standards and practices to avoid anti-competitive behaviour, such as price-fixing or market manipulation. Additionally, businesses may be required to provide clear and accurate information to consumers to ensure they are fully informed about products and services. Compliance with these obligations is crucial for maintaining a competitive market environment and safeguarding consumer interests. The Act also includes provisions for enforcement and penalties. Any breach of the Act's requirements may result in both civil and criminal consequences. For instance, individuals or entities found guilty of anti-competitive behaviour may face fines, with the maximum penalties varying depending on the severity of the offence. Criminal penalties could include imprisonment for directors or officers of companies found to be in breach of the Act. Civil penalties may also be imposed, allowing affected parties to seek compensation for any losses incurred due to non-compliance. These measures are designed to deter non-compliance and ensure that the provisions of the Act are upheld effectively.