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Australian Competition And Consumer Commission
The Australian Competition and Consumer Commission (ACCC) is the chief competition regulator of the Government of Australia, located within the Department of the Treasury. It was established in 1995 with the amalgamation of the Australian Trade Practices Commission and the Prices Surveillance Authority to administer the '' Trade Practices Act 1974'', which was replaced by the ''Competition and Consumer Act 2010'' on 1 January 2011. The ACCC's mandate is to protect consumer rights and business rights and obligations, to perform industry regulation and price monitoring, and to prevent illegal anti-competitive behaviour. Historical origins The ACCC's deeper origins are found in the Restrictive Trade Practices Act of Sir Garfield Barwick, Attorney-General in the Liberal Government of Sir Robert Menzies in 1965.Hocking, Jenny, ''Lionel Murphy: a political biography'', Cambridge University Press, Cambridge, UK, 2000 . p.204 Opponents derided Barwick's Trade Practices Act 1965 as " ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Trade Practices Commission
The Trade Practices Commission was an agency of the Government of Australia responsible for monitoring and enforcement activities under the Trade Practices Act 1974. It was superseded by the Australian Competition & Consumer Commission in 1995. Australian Competition & Consumer Commission
The Australian Competition and Consumer Commission (ACCC) is the chief competition regulator of the Government of Australia, located within the Department of the Treasury. It was established in 1995 with the amalgamation of the Australi ...
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Lionel Murphy
Lionel Keith Murphy QC (30 August 1922 – 21 October 1986) was an Australian politician, barrister, and judge. He was a Senator for New South Wales from 1962 to 1975, serving as Attorney-General in the Whitlam government, and then sat on the High Court from 1975 until his death in 1986. Murphy was born in Sydney, and attended Sydney Boys High School before matriculating at the University of Sydney. He initially graduated with a degree in chemistry, but then went on to Sydney Law School and eventually became a barrister. He specialised in labour and industrial law, and took silk in 1960. Murphy was elected to the Senate at the 1961 federal election, as a member of the Labor Party. He became Leader of the Opposition in the Senate in 1967. Following Labor's victory at the 1972 federal election, Gough Whitlam appointed Murphy as Attorney-General and Minister for Customs and Excise. He oversaw a number of reforms, establishing the Family Court of Australia, the Law Ref ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Effective Competition
Effective competition is a concept first proposed by John Maurice Clark, then under the name of "workable competition," as a "workable" alternative to the economic theory of perfect competition, as perfect competition is seldom observed in the real world. His proposal resulted in extensive debate in the economic literature over the next several decades in which George W. Stocking Sr., George Stigler, Jesse W. Markham, Joe S. Bain, and many others participated. No consensus has yet been reached over which of many potential criteria should be used to judge competition to be effective, but as an alternative to identifying specific structural criteria by which to constitute effectiveness or workability, Jesse W. Markham suggested the following definition: An industry may be judged to be workably competitive when, after the structural characteristics of its market and the dynamic forces that shaped them have been thoroughly examined, there is no clearly indicated change than can be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Victoria, Australia
Victoria, commonly abbreviated as Vic, is a state in southeastern Australia. It is the second-smallest state (after Tasmania), with a land area of ; the second-most-populated state (after New South Wales), with a population of over 7 million; and the most densely populated state in Australia (30.6 per km2). Victoria's economy is the second-largest among Australian states and is highly diversified, with service sectors predominating. Victoria is bordered by New South Wales to the north and South Australia to the west and is bounded by the Bass Strait to the south (with the exception of a small land border with Tasmania located along Boundary Islet), the Southern Ocean to the southwest, and the Tasman Sea (a marginal sea of the South Pacific Ocean) to the southeast. The state encompasses a range of climates and geographical features from its temperate coastal and central regions to the Victorian Alps in the northeast and the semi-arid northwest. The majority of the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Safeway (Australia)
Australian Safeway Pty Ltd (trading as Safeway Supermarkets) was a chain of supermarkets in Australia from 1963 to 2017. The supermarkets were initially part of Safeway Inc. but were absorbed by Woolworths Limited (now Woolworths Group) in 1985. On 22 August 2008, Woolworths Limited announced it would discontinue the Safeway name, and former Safeway stores were rebranded to Woolworths or closed. The final Safeway store to be rebranded was Wodonga, occurring on 6 June 2017. History Early years The American company Safeway Inc. entered the Australian grocery market in 1962 with the purchase of three Pratt's Supermart stores in Victoria. J.R.W. "Bill" Pratt purchased his father's supermarket in Frankston in 1946, and he also owned stores in Mornington (acquired from John Fyffe's estate in 1946), and Chelsea (opened in 1953). He became a pioneer of retail strategies and self-service in supermarkets. Representatives of Safeway Inc. became interested in Pratt's growing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Woolworths Group (Australia)
Woolworths Group Limited is an Australian Multinational corporation, multinational retail and finance company, primarily known for the operation of its retail chain Woolworths Supermarkets across Australia, Woolworths (previously known as Countdown (supermarket), Countdown) in New Zealand and its discount department store Big W. Headquartered in Bella Vista, New South Wales, Bella Vista, Sydney, it is the largest company in Australia by revenue and number of employees, and the second-largest in New Zealand. Founded in Sydney in 1924 as variety store, variety retailer Woolworths Limited, the company entered the New Zealand market in 1929 and has traded in every Australian States and territories of Australia, state and territory since 1960. Woolworths experienced steady growth throughout the 20th century and began to diversify its business, closing the last of its variety stores in the 1980s to focus on its portfolio of other retail brands. Since 2012, Woolworths has undergone si ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Target Australia
Target Australia Pty Ltd (formerly Lindsay's and Lindsay's Target, formerly stylised as Target. and doing business as Target and Target Australia) is a department store chain owned by Australian retail conglomerate Wesfarmers. Target stocks clothing, cosmetics, homewares, electronics, books, and toys selling both in-store and online. The company's head office is located in the Melbourne suburb of Williams Landing which the company moved to in 2018. Despite the identical logo, name and similar type of outlets, Target Australia carries no direct relation or affiliation to the American retailer Target Corporation. History Beginnings as Lindsay's In 1926, George Lindsay and Alex McKenzie opened their first store in Geelong selling dress fabrics, bedding and furnishings. Lindsay began his retail empire five years earlier, running a store in Ouyen, Victoria, but moved to Geelong to increase the opportunity for growth. The company progressively established stores throughout ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cartel
A cartel is a group of independent market participants who collaborate with each other as well as agreeing not to compete with each other in order to improve their profits and dominate the market. A cartel is an organization formed by producers to limit competition and increase prices by creating artificial shortages through low production quotas, stockpiling, and marketing quotas. Jurisdictions frequently consider cartelization to be anti-competitive behavior, leading them to outlaw cartel practices. Cartels are inherently unstable due to the temptation by members of the cartel to cheat and defect on each other by improving their individual profits, which may lead to falling prices for all members. The doctrine in economics that analyzes cartels is cartel theory. Cartels are distinguished from other forms of collusion or anti-competitive organization such as corporate mergers. Advancements in technology or the emergence of substitutes can undermine cartel pricing power, leadi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Fixing
Price fixing is an anticompetitive agreement between participants on the same side in a market to buy or sell a product, service, or commodity only at a fixed price, or maintain the market conditions such that the price is maintained at a given level by controlling supply and demand. The intent of price fixing may be to push the price of a product as high as possible, generally leading to profits for all sellers but may also have the goal to fix, peg, discount, or stabilize prices. The defining characteristic of price fixing is any agreement regarding price, whether expressed or implied. Price fixing requires a conspiracy between sellers or buyers. The purpose is to coordinate pricing for mutual benefit of the traders. For example, manufacturers and retailers may conspire to sell at a common "retail" price; set a common minimum sales price, where sellers agree not to discount the sales price below the agreed-to minimum price; buy the product from a supplier at a specified maxi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Refusal To Deal
Though in general, each business may decide with whom they wish to transact, there are some situations when a refusal to deal may be considered an unlawful anti-competitive practice, if it prevents or reduces competition in a market. The unlawful behaviour may involve two or more companies refusing to use, buy from or otherwise deal with a person or business, such as a competitor, for the purpose of inflicting some economic loss on the target or otherwise force them out of the market. A refusal to deal (also known as a group boycott) is forbidden in some countries which have restricted market economies, though the actual acts or situations which may constitute such unacceptable behaviour may vary significantly between jurisdictions. Definitions Australian Competition & Consumer Commission defines the refusal to deal as: The Indian Competition Act 2002 defines the refusal to deal as: In Canada, refusal to deal is considered a restrictive trade practice and is defined in Sec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Australian Consumer Law
The Australian Consumer Law (ACL), beinto the ''Competition and Consumer Act 2010'', is uniform legislation for consumer protection, applying as a law of the Commonwealth of Australia and is incorporated into the law of each of Australia's states and territories. The law commenced on 1 January 2011, replacing 20 different consumer laws across the Commonwealth and the states and territories, although certain other Acts continue to be in force. History The Australian Consumer Law was developed by agreement of the Council of Australian Governments. The ''Competition and Consumer Act 2010'' (referred to as Australian Consumer Law) was enacted into legislation by the ''Parliament of Australia'' to provide a more robust framework of protection for consumer transactions within Australia. Historically the ''States and Territories of Australia'' were responsible for their own legislation protecting the sale of goods, known as the ''Trade Practices Act 1974'', where the Australian Consum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Court Of Australia
The Federal Court of Australia is an Australian superior court which has jurisdiction to deal with most civil disputes governed by federal law (with the exception of family law matters), along with some summary (less serious) and indictable (more serious) Criminal law, criminal matters. Cases are heard at first instance mostly by single judges. In cases of importance, a full court comprising three judges can be convened upon determination by the Chief Justice. The Court also has Appellate court, appellate jurisdiction, which is mostly exercised by a Full Court comprising three judges (although sometimes by a panel of five judges and sometimes by a single judge), the only avenue of appeal from which lies to the High Court of Australia. In the Australian court hierarchy, the Federal Court occupies a position equivalent to the supreme courts of each of the states and territories. In relation to the other courts in the federal stream, it is superior to the Federal Circuit and Family ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
