Treasury Laws Amendment Bill 2024
The Competition and Consumer Committee and Corporations Committee (the Committees) of the Business Law Section of the Law Council of Australia welcome the opportunity to jointly participate in the consultation being undertaken by the Competition Review (Taskforce) on the Treasury Laws Amendment Bill 2024: Acquisitions exposure draft (Exposure Draft) to amend the Competition and Consumer Act 2010 (Cth) (CCA).
The Committees support the policy objectives of improved certainty, predictability, and – in some circumstances – speed and efficiency of Australia’s merger control process to promote the CCA’s objective of enhancing the welfare of Australians. We also recognise the strong policy direction given by Government that Australia’s informal merger process should be replaced with a mandatory and suspensory regime centred around the ACCC as an administrative decision maker (cf. enforcement through the Federal Court).
The proposed reforms will constitute a fundamental realignment of our merger regime.
Read the full submission below.
Last Updated on 20/08/2024
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