Peter Costello

Media Releases

Small Business Win on Trade Practices Act Reform

NO.113

Joint Press Release by the Treasurer and the Minister for Small Business and Tourism

SMALL BUSINESS WIN ON TRADE PRACTICES ACT REFORM

The Government is delighted with the passage today of the Trade Practices Legislation Amendment Bill (No 1) 2005 (the Dawson Bill).

The Government has worked closely with small businesses to bring about benefits for small business that flow from the Dawson Bill, benefits that include:

  • a simpler process for collective bargaining, making this process simpler and less costly;
  • a more transparent and certain system for mergers;
  • stronger powers for the Australian Competition and Consumer Commission;
  • significantly higher penalties for those who engage in anti-competitive conduct; and
  • retaining the per-se prohibition in relation to third line forcing.

The Government looks forward to working with small business on the next stage of its Trade Practices Act 1974 (TPA) reform to strengthen the misuse of market power provisions and unconscionable conduct provisions of the TPA.

This Bill was defeated in the Senate one year ago by a combination of the ALP, Democrats and Greens. It is a major breakthrough today for it to be passed. I acknowledge the work of Senator Boswell and Family First in making this possible.

CANBERRA
19 October 2006

Contact:

Renae Stoikos Treasurer’s Office 02 6277 7340
Kevin Lowe  Minister Bailey’s Office 02 6277 7450

19 Oct 2006

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