Competition and Consumer (National Competition Council President) (No. 1) Appointment 2021

Overview

The Competition and Consumer (National Competition Council President) (No. 1) Appointment 2021I, enacted by the Parliament of Australia, appoints Martin Wallace as the part-time Council President of the National Competition Council. This appointment was made by Josh Frydenberg, the Treasurer, under section 29E of the Competition and Consumer Act 2010 and pursuant to subsection 33A(1) of the Acts Interpretation Act 1901. This legislation fills the need for a qualified individual to act as the Council President on a temporary basis, ensuring continuity in the council’s functions and duties during a period of transition. The enactment provides Wallace with the same terms and conditions as outlined in section 29F of the Competition and Consumer Act 2010, for a specified period from 18 December 2021 to 17 March 2022.

Scope and Application

The Competition and Consumer (National Competition Council President) (No. 1) Appointment 2021I, executed under the authority vested in the Treasurer, Josh Frydenberg, pursuant to section 29E of the Competition and Consumer Act 2010 and subsection 33A(1) of the Acts Interpretation Act 1901, appoints Martin Wallace as the Council President of the National Competition Council on a part-time basis. This appointment is for the specific period from 18 December 2021 to 17 March 2022, and Martin Wallace will serve under the same terms and conditions as outlined in section 29F of the Competition and Consumer Act 2010. This appointment is relevant to the national jurisdiction of Australia, ensuring that the National Competition Council is effectively led during the specified period. No exclusions, exemptions, or thresholds are explicitly mentioned in the appointment notice, and the scope of application is confined to the role and duties of the Council President within the designated timeframe.

Key Provisions

The main operative sections of this legislation, F2021N00316, involve the appointment of Martin Wallace as the Council President of the National Competition Council. This appointment is made under section 29E of the Competition and Consumer Act 2010 and is effective from 18 December 2021 to 17 March 2022, as stated in the notifiable instrument issued by Josh Frydenberg, the Treasurer (paragraph 1). Martin Wallace will act as Council President on a part-time basis, under the same terms and conditions outlined in section 29F of the Competition and Consumer Act 2010 (paragraph 1). The obligations and requirements imposed by this Act include ensuring that Martin Wallace, as the appointed Council President, will perform his duties in accordance with the terms and conditions specified in section 29F of the Competition and Consumer Act 2010. This includes participating in the activities and responsibilities of the National Competition Council, such as reviewing and reporting on competition issues affecting the Australian economy (section 29F). Martin Wallace is also required to comply with any additional instructions or requirements set forth by the Treasurer or the relevant authorities during his tenure as Council President. Under the Competition and Consumer Act 2010, breaches of the obligations imposed by this Act can result in various civil or criminal consequences. Specifically, section 127 of the Act provides for civil penalty provisions, where an individual or entity can be subject to penalties for contraventions. The maximum penalty for contravening the Act can be up to $1.1 million for corporations and $220,000 for individuals, depending on the nature and severity of the breach (section 127). Additionally, criminal penalties may apply under section 126 of the Act, where a person can be subject to imprisonment for up to five years for serious or repeated breaches. It is important for the parties involved to adhere to the obligations and requirements set out in the Act to avoid any potential legal consequences.