Australian competition law update ?>

Australian competition law update

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In an attempt to avoid going a whole year without a blog update, let’s review what’s been happening since the last post in June 2018 … Criminal charges ramp up The ACCC has announced three new criminal prosecutions in relation to cartel conduct in the past 12 months (these are prosecuted by the Commonwealth Department of Public Prosecutions): (11 April 2019) against money transfer business, Vina Money Transfer, and five individuals for allegedly fixing the Australian dollar / Vietnamese dong…

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It’s all happening in Australian competition law ?>

It’s all happening in Australian competition law

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It’s all happening in Australian competition law. In the last blog post I noted that the Harper reforms to Australia’s competition law had commenced. That was six months ago.  I’ve fallen a tad behind on the blog … here’s a brief re-cap of key events over the past six months, with some more detailed posts to follow over the next few weeks: Digital Platform Inquiry On 4 December 2017 the Australian Treasurer, Scott Morrison, directed the ACCC to conduct an…

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Breaking news
Harper reforms commence ?>

Harper reforms commence

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With no warning the Harper Reforms have commenced. Commencement is proclaimed! Last Thursday the Governor General proclaimed that today (6 November 2017) was the day that Schedule 1 of the Competition and Consumer Amendment (Competition Policy Reform) Act 2017 would commence. Commencement of that Schedule triggers commencement of all the others as well as commencement of the misuse of market power reforms in the Competition and Consumer Amendment (Misuse of Market Power) Act 2017. Silence is golden …? The Harper…

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Parliament House Australia
Harper competition reforms now passed ?>

Harper competition reforms now passed

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Last week Parliament passed the most significant reforms to Australia’s competition laws in more than two decades. The legislation The Competition and Consumer Amendment (Competition Policy Review ) Bill 2017 (CPR Bill) includes the majority of reforms recommended in the 2015 Harper Report. The related Competition and Consumer Amendment (Misuse of Market Power) Act 2017 (MMP Act), became law on 23 August this year.  As the name suggests, it contains the reforms to the misuse of market power provisions. However, commencement of those…

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Reasons out in Tabcorp ?>

Reasons out in Tabcorp

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The reasons for judgment have been released in the Tabcorp/Tatts judicial review matter – sooner than expected. Of the ACCC’s three grounds of judicial review only the first succeeded; the Court held that the Tribunal erred in not assessing certain detriment alleged by the ACCC. The ACCC’s Grounds of Appeal The ACCC’s three grounds of appeal were that: that the Tribunal was wrong to reason that it could only conclude the acquisition would result in a detriment if it found there…

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Federal Court sends Tabcorp/Tatts deal back to the Tribunal ?>

Federal Court sends Tabcorp/Tatts deal back to the Tribunal

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The Federal Court yesterday upheld the ACCC’s application for Judicial Review, setting aside the decision of the Australian Competition Tribunal on 22 June 2017 to authorise the proposed merger between Tabcorp at Tatts. The matter has now been referred back to the Tribunal. The reasons for decision have been embargoed from release (both to parties and the public) while solicitors for the parties determine whether it contains commercial in confidence material that requires redaction; the solicitors have no more than…

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Documents
ACCC to increase focus on evidence-gathering in merger cases ?>

ACCC to increase focus on evidence-gathering in merger cases

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ACCC Chairman, Rod Sims, yesterday delivered a speech at the annual Law Council of Australia’s Business Law Section Competition and Consumer Committee Workshop. He addressed three broad issues: the ACCC’s compliance and enforcement mix investment in the ACCC’s criminal cartel unit merger enforcement He also made two key announcements: that the ACCC is commencing a new review of its cartel immunity and cooperation policy in light of recent experience with criminal cartel investigations; and that the ACCC will be taking…

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First criminal cartel conviction: some initial thoughts ?>

First criminal cartel conviction: some initial thoughts

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In brief Yesterday (3 August 2017) the Federal Court convicted and fined Nippon Yusen Kabushiki Kaisha (NYK) for cartel conduct.  The fine is significant in that it represents the first time that a corporation has been convicted and fined under the criminal cartel laws, introduced in Australia in 2009. The cartel conduct the subject of the proceeding was said to have occurred since 1997 but, because Australia’s criminal cartel laws were only introduced in 2009, the charge related only to…

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First criminal cartel fine: $25 million ?>

First criminal cartel fine: $25 million

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First criminal cartel fine The Federal Court today convicted Nippon Yusen Kabushiki Kaisha (NYK) of criminal cartel conduct and ordered it to pay a fine of $25m (Commonwealth Director of Public Prosecutions v Nippon Yusen Kabushiki Kaisha [2017] FCA 876). This was the first successful prosecution under Australia’s criminal cartel provisions which have been in place since 2009. The fine includes a significant discount (50%) for an early guilty plea, cooperation and contrition). Quick summary and background In 2016, following…

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ACCC appeals Tribunal’s Tabcorp/Tatts merger authorisation ?>

ACCC appeals Tribunal’s Tabcorp/Tatts merger authorisation

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The ACCC has applied to the Federal Court for a judicial review of the Australian Competition Tribunal’s recent Tabcorp/Tatts merger authorisation decision. Background I outlined the Tribunal’s Tabcorp decision in an earlier blog (Tribunal Clears Tabcorp/Tatts Merger (ACL Blog, 30 June 2017)) and provided some more detailed information and case extracts on my my Tabcorp case page). Briefly the Tribunal has the power to authorise a proposed merger/acquisition (s 95AT) on public benefit grounds, provided satisfied that the ‘proposed acquisition would…

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